Farm produce exports to US hit $11.1bln in 2023

Major demand exists for Vietnamese farm produce in the US, HCMC forum hears.

Exports of agriculture, forestry and fishery products to the US earned $11.1 billion in 2023, accounting for 21 per cent of the country’s total export value, Deputy Minister of Agriculture and Rural Development Phung Duc Tien has said.

The US is a major market and target of many exporters, so entering the country remains a challenge for Vietnamese enterprises, Deputy Minister Tien told a forum in Ho Chi Minh City on January 4 looking at how domestic firms can effectively exploit the US market given the two countries have upgraded ties to a comprehensive strategic partnership.

He advised local enterprises to strengthen the application of science and technology in the processing stage.

Ms. Phan Thi My Yen, Director of the Center for Vietnamese Trademark Research and Development at the Vietnam Union of Science and Technology Associations (VUSTA), said surveys conducted at US supermarkets revealed that there is significant demand for Vietnamese farm produce in the US but the majority of these products are being sold in the market under foreign brands.

She suggested that Vietnamese agricultural and food businesses pay greater attention to building their trademarks in a scientific manner while systematically investing in production to enhance product quality, which would boost their reputation and competitiveness and raise exports to the US.

Mr. Huynh Minh Triet from the Trade Office of the US Consulate General in Ho Chi Minh City said the US has encouraged Vietnamese enterprises to expand their investment and business in many areas of the country.

The US is the largest consumption market in the world and a “launch pad” for Vietnamese exports to other markets in the Americas, he added.

Source: Farm produce exports to US hit $11.1bln in 2023 – Vietnam Economic Times | VnEconomy