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Vietnam signs MOU with U.S. agribusinesses

Photo provided by Ohio Corn and Wheat.

Vietnam has signed a memorandum of understanding with several U.S. agribusinesses to boost trade opportunities.

Ohio Corn and Wheat’s director of market development Wendy Osborn says a Vietnamese delegation recently visited Ohio.

“We’re buying a lot of goods from Vietnam and they’re good trading partner, but they haven’t bought as many goods from the United States,” she says. “In order to find a solution for this, they have made the commitment to buy more US agricultural goods.”

North central Ohio famer Patty Mann says expanding trade with Vietnam could help boost profitability for several U.S. ag products.

“They were impressed with the size and the scale of our farms,” she says. “They were amazed at the equipment. We always talk about what a great quality product we grow, they want to see those products and meet the farmers that grow them.”

Vietnam is currently the 10th largest U.S. trading partner. The Vietnamese delegation is expected to purchase more than $2 billion in U.S. corn, soybeans, DDG’s, wheat, meat, and timber. 

The trade mission is currently visiting with leaders in Washington D.C. and Maryland to continue trade discussions.

AUDIO: Wendy Osborn and Patty Mann