Room for Vietnam-US farm produce trade remains huge: roundtable

27-Feb-2020 Intellasia | VNA | 6:02 AM Print This Post

Vietnam and the US still hold huge potential for cooperation in farm produce trade, and the two countries should not compete in trade but supplement each other, deputy minister of Agriculture and Rural Development Le Quoc Doanh has said.

The official made the remark while attending a roundtable with representatives of associations and firms of the US in Washington DC on February 24, aiming to bolster bilateral farm produce trade and raising the two-way trade growth.

He is leading a delegation of the Ministry of Agriculture and Rural Development (MARD) on a visit to the US from February 24-29, part of an action plan towards harmonious and sustainable trade balance of the two countries.

Speaking at the event, Doanh affirmed that the Vietnam-US relations over the years have thrived in various fields, including cooperation in agriculture and farm produce trade.

The US is the leading nation of the world in modern agricultural production, while Vietnam is restructuring agricultural sector in an efficient manner in tandem with market demand and boasts strengths in tropical products such as fruits and high quality seafood.

Therefore, businesses should capitalise on the chance to bolster bilateral farm produce trade, Doanh said.

The US is currently the third biggest trade partner of Vietnam, while Vietnam has become the 27th largest export market and 16th trade partner of the US.

At the roundtable, representatives of US sectors voiced their willingness to support and create optimal conditions for Vietnamese firms in the near future.

The two sides also exchanged information and pointed out difficulties, such as high costs of imported items and tariffs, and long transport duration, among others.

To address those bottlenecks, firms are advised to thoroughly study markets and export-import regulations of respective country, as well as frequently update information and participate in trade promotions held by the MARD and the US Department of Agriculture to seek business partners.

They should promptly report problems and send recommendations to the two agricultural agencies to find solutions and create favourable conditions for agro-forestry-fishery trade of the countries.

After Washington DC, the Vietnamese delegation will join activities in other US states of Iowa and Nebraska.

https://en.vietnamplus.vn/room-for-vietnamus-farm-produce-trade-remains-huge-roundtable/169185.vnp

 


Category: Business, Vietnam

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