Opportunities to export Vietnamese agricultural products to the US

Join hands to promote agricultural exports to the US

On January 4, in Ho Chi Minh City, the Vietnamese Brand Research and Development Center, the Union of Science and Technology Associations coordinated with the Vietnam Science and Technology Enterprise Association and other domestic and foreign agencies, units and associations, organized the "Vietnam - United States Trade Promotion Forum".

Attending the forum were Deputy Minister of Agriculture and Rural Development Phung Duc Tien; Deputy Minister of Science and Technology Hoang Minh and representatives of leaders of central agencies and departments; Representatives of local provinces and businesses.

According to Mrs. Phan Thi My Yen, President of the Center for Research and Development of Vietnamese Brands, General Secretary of the Vietnam Association of Science and Technology Enterprises, currently, Vietnamese agricultural and food products do not have high value, and the growth rate is not high. Production is still high, mainly crude exports.

Therefore, it is necessary to have a strategy and methodical investment to build a brand and a scientific production process to create products that meet quality standards, have a reputable brand and compete with other competitors' products.

"Through a survey of US supermarkets, we found that Vietnam's agricultural product resources have great potential, but most carry foreign brands. Vietnam mainly exports raw materials," Mrs. Yen said.

According to Deputy Minister of Agriculture and Rural Development Phung Duc Tien, "Vietnam - United States Trade Promotion Forum" is the most meaningful program at this time when Vietnam and the United States promote comprehensive trade cooperation, multilateral and bilateral, especially in the economic field. This is an opportunity for Vietnamese businesses to conveniently export goods to the US market, develop sales, increase business reputation, affirm their brands, and develop sustainably.

In 2023, despite facing many difficulties and challenges, with the attention of the Party Central Committee, the National Assembly, the Government, and especially the Prime Minister, Vietnamese agricultural products will reach the world level. Vietnam has strived to affirm its position by ranking 3rd in Southeast Asia and 13th in the world in imports and exports.

Vietnamese agricultural and food products are increasingly penetrating international markets widely, and export capacity is improving daily. World consumers increasingly trust Vietnamese-branded products. In particular, the United States is a large market with huge consumption power. However, penetrating this market is a challenge for Vietnamese businesses.

Last year, Vietnam's agricultural, forestry, and fishery exports reached over US$ 53 billion, of which agrarian exports reached over US$ 23 billion. The surplus reached US$ 12.07 billion, an increase of 43.7%, and is present in over 200 countries and territories. The US market reached US$ 10.9 billion and is the second export market of Vietnamese agricultural products, accounting for over 20%.

Deputy Minister Phung Duc Tien said that science and technology have contributed to increasing agricultural product productivity, output and quality. The impact of the 4.0 revolution has entered all lives, economies, and societies. Thanks to scientific and technological innovation, the application of mechanization, and biotechnology... the agricultural sector has had remarkable development.

In the coming time, the Ministry of Agriculture and Rural Development will continue to join hands with the Vietnam Science and Technology Business Association, local political systems, and businesses to promote agricultural exports to the US with high output, and the value will increase higher in the near future. This contributes to the growth of agriculture, which is truly the pillar of the economy.

2 million Vietnamese Americans - goodwill customers for Vietnamese agricultural products

From an expert perspective, Dr. Le Dang Doanh, Senior Economic Expert, said the opportunities for Vietnamese agricultural products are enormous. Many typical agricultural products of Vietnam, such as coffee and pepper, are not strong enough to produce them in the US. This is a chance.

"We must find ways to deeply process, connect with American businesses, attach our brand to their brand to share the benefits with them, then the more we export, the more they will support us." household and not encounter difficulties", Dr. Le Dang Doanh recommended.

According to Dr. Le Dang Doanh, Chinese goods exported to the US are taxed at 270%, but the same goods are labeled with a Vietnamese tax rate of 0%. Therefore, US agencies closely inspect, investigate and take sanctions for fraud in the origin of goods. Vietnamese businesses need to cooperate openly and transparently with American businesses to increase added value, which will be more profitable. At the same time, carefully review the law, green, clean, environmental, recycling, waste, and intellectual property conditions.

"2 million Vietnamese Americans will be very willing customers of Vietnamese agricultural products," said economist Le Dang Doanh.