A trade delegation led by the Vietnamese Minister of Agriculture signed several memorandums of understanding (MOUs) to purchase approximately 7.5 million metric tons of U.S. ag products on Monday.
The signings took place at the Iowa State Capitol in Des Moines between the Vietnam feed industry and private companies from the United States. The MOUs include up to 1 million metric tons of corn equaling roughly 40 million bushels.
Iowa Secretary of Agriculture Mike Naig says that the size and scope of the Vietnamese delegation that is visiting Iowa signals a desire to increase the scale of ag trade between the countries.
Do Duc Duy is the minister of agriculture and environment of Vietnam and led the delegation which also met with Iowa Governor Kim Reynolds on Monday.
Iowa Corn Promotion Board President Ralph Lents says that the Vietnamese delegation made its intentions of increasing trade with the U.S. clear by stopping in Iowa first.
Ryan Sauer is the vice president of market development with Iowa Corn and says that the signings at the capitol were a way to spotlight Iowa’s farmers.
The Vietnamese delegation also met with representatives from Iowa Soybean, Iowa Pork, and Iowa Beef during the roundtable discussion. Also in attendance was Hoang Trung, deputy minister of agriculture and environment of Vietnam.
