MARD Deputy Minister Le Quoc Doanh and President and CEO of USGC Ryan LeGrand witnessed the signing.
Addressing the event, Deputy Minister Doanh affirmed that Vietnam is one of the fastest growing animal feed markets in the world and a major importer of corn and grains.
Vietnam has grown from 16th place to third in the world in terms of corn imports in less than a decade. The country is also a potential customer of ethanol fuel, which is expected to widely use E5 bio-fuel and switch to E10 in the near future, according to Doanh.
According to Nguyen Do Anh Tuan, director of the International Cooperation Department of the MARD, Vietnam and the U.S. have a lot of potential and room for trade cooperation, especially in agricultural products.
Farm produce of the two countries are complementary to each other, he said, adding the two sides could enhance cooperation in science-technology and technology transfer between research units, enterprises towards promoting a green, sustainable and low-emission agriculture.
Ryan LeGrand said the U.S. and Vietnam have developed a plan towards a harmonious and sustainable trade balance with many specific solutions in the field of agriculture.
According to LeGrand, the item that helps to balance bilateral trade is ethanol fuel because Vietnam is a potential customer.
Under the MoU, the MARD and USGC will establish a technical cooperative relationship in the field of agriculture and animal feed, production and use of biofuels in Vietnam as well as enhance mutual understanding on relevant policies and regulations in accordance with Vietnam’s laws, regulations, policies and development goals.
USCG will help improve the capacity of Vietnamese managers, importers, and feed processing businesses in accessing new technologies, commercial forms and skills serving their production management.
It will also provide medical equipment such as COVID-19 test kits and COVID-19 treatment drugs for Vietnamese livestock enterprises.
Source: VNA