Trade in agricultural products between Vietnam and the US reaches over 10 billion USD in 8 months of 2021

Within the framework of the working visit of President Nguyen Xuan Phuc and the high-ranking Vietnamese delegation at the United Nations General Assembly, in recent days, the Ministry of Agriculture and Rural Development of Vietnam has worked with a number of US partner agencies: Department of Agriculture (USDA), Grain Council (USGC); International Trade Commission (USITC), Office of Trade Representative (USTR).

TRADE OF VIETNAM - US AGRICULTURE PRODUCTS FAST

During the meetings, US agencies have assessed Vietnam as an extremely reliable partner when implementing trade commitments in the agricultural sector.

Over the past three years, Vietnam and the United States have made efforts to implement the Action Plan of the Trade and Investment Framework Agreement (TIFA) to open the market and create favorable conditions for trade in agricultural products of the two countries.

The Ministry of Agriculture and Rural Development of Vietnam has actively organized a series of meetings between enterprises importing and exporting agricultural products of the two countries. Vietnam and the US have been signed and seriously implemented since February 2020.

In the context of the complicated Covid-19 pandemic, in the first eight months of 2021, agricultural trade between the two countries reached US$10.9 billion, up 41.5% over the same period in 2021; in which, Vietnam's agricultural, forestry and fishery exports to the US reached US$ 9.3 billion, accounting for 29.1% of the total export market share of Vietnam's agricultural sector.

Up to this point, most of Vietnam's agricultural, forestry and fishery products are exported to the US in a very large amount, of which wood products alone have a turnover of 7-8 billion USD per year.

As for fruit, because this is a potentially hazardous commodity that needs to be quarantined, it is necessary to negotiate a control measure for each specific type of fruit.

Up to now, the US side has opened the market for a number of tropical fruits from Vietnam, applying the catfish equivalent recognition system.

In the coming time, the US side will continue to consider opening the market for Vietnam's pomelo and passion fruit, as well as consider applying an equivalence recognition system for seafood products in general.

In contrast, Vietnam has opened the market for fruit products with strengths of the US such as apples, grapes, pears, nectarines..., registration certificates for US meat and seafood exporters, certificates receive biotechnology products, exempt and reduce import tax for raw materials for animal feed.

Experts say that the agricultural products of Vietnam and the US are complementary, not competitive. The US is the number 1 market for many agricultural products exported from Vietnam, including seafood, cashew nuts, coffee, pepper, rubber and many kinds of fruits.

Meanwhile, the top agricultural products exported from the US to Vietnam are cotton, dairy inputs, furniture, corn, soybeans, flour... these are all important input products of the US. manufacturing and processing industries in Vietnam.

These are very clear proofs that the trade relationship in the agricultural sector between Vietnam and the US is complementary.

AGRICULTURE DEVELOPMENT COOPERATION

Along with the development of agricultural trade, the two sides also emphasized cooperation in science and technology in agriculture.

At the meeting with Mr. Hafemaister, US Deputy Secretary of Agriculture, Vietnam's Deputy Minister of Agriculture and Rural Development Le Quoc Doanh said: As a country seriously affected by climate change and weather. Vietnam welcomes the US to rejoin the Paris Agreement on climate change and strengthens its commitment to promoting global efforts to respond to climate change.

Deputy Minister Le Quoc Doanh expressed his desire to work closely with the US side in the application of new technological achievements of mankind in the agricultural field such as biotechnology, vaccine technology to prevent diseases in the world. livestock, sustainable agricultural production processes, biodiversity....

Deputy Minister Le Quoc Doanh also proposed that the US side support and introduce large companies to coordinate with Vietnam and the World Economic Forum (WEF) to implement the Public-Private Cooperation Initiative to build an Innovation Center. food innovation in Vietnam for Southeast Asia and the 100 million low-emissions practice farmers program.

Mr. Hafemaister, Deputy Secretary of the US Department of Agriculture, said that over the years, the US has supported and cooperated in the development of the livestock industry in Vietnam. The US also helps Vietnam in the process of transferring high-quality livestock genetic resources.

Many US livestock enterprises have provided technical support to Vietnamese partners, contributing to the development of the animal feed industry in Vietnam over the years. Thereby, contributing to the rapid growth of Vietnam's livestock industries such as pork, poultry, seafood and dairy.

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