USDA, U.S. food and agricultural companies making first trade mission to Vietnam from Sept. 26-29 to promote U.S. agricultural exports; two-way agricultural, fish, forestry trade with Vietnam reached nearly US$3.4B in 2010
September 22, 2011
– Acting Under Secretary for Farm and Foreign Agricultural Services Michael Scuse will lead USDA's first-ever agricultural trade Mission to Vietnam in the cities of Hanoi and Ho Chi Minh City from Sept. 26 to 29. Vietnam is one of the world's fastest-growing economies and an important market for U.S. agricultural products. Two-way agricultural, fish and forestry trade with Vietnam reached nearly $3.4 billion in 2010.
Fifteen U.S. companies representing a wide range of food and agricultural products will take part in the mission, which aims to promote U.S. agricultural exports to Vietnam. Throughout the mission, these companies will meet with nearly 150 Vietnamese producers, importers, buyers, distributors, and investors to develop trade relationships.
"U.S. farmers and ranchers are seeing record sales of farm goods abroad and looking forward to some of the best net incomes in decades thanks to global demand for the American brand," said Scuse. "Since 2006, no other major U.S. agricultural export market has grown as quickly as Vietnam. This is a significant and growing market for U.S. producers and a driver for the American economy, helping to support more than 28,000 jobs here in the United States through exports of American products. USDA trade missions have a successful track record of helping to support U.S. job creation and business opportunities for American food and agricultural companies. Establishing partnerships and creating opportunities for trade is how we will build an economy that continues to grow, innovate and out-compete the rest of the world."
While in Vietnam, Scuse will meet with Vietnamese government and agricultural officials, U.S. agribusiness, and visit agricultural production and development sites. He will also join U.S. Ambassador to Vietnam David Shear to open the USA Pavilion at Food and Hotel Vietnam (FHV)—one of Southeast Asia's premier food trade shows—on Sept. 28. The sold-out USDA-endorsed USA Pavilion will feature 28 exhibitors displaying a wide variety of food and agricultural products to an expected 8,000 visitors.
USDA recently forecast fiscal year 2011 and 2012 exports will reach a record $137 billion, $22 billion higher than the previous record set in 2008 and $28 billion above 2010. Strong agricultural exports contribute to the positive U.S. trade balance, create jobs, and boost economic growth. The Vietnam trade mission and U.S. participation in the FHV show support the strategic priorities of President Obama's National Export Initiative (NEI), which aims to double all U.S. exports by the end of 2014 and create millions of new American jobs.