Secretary Mike Naig, IEDA Led Trade Mission to Vietnam, Philippines
April 3, 2023 (DES MOINES) - Iowa Secretary of Agriculture Mike Naig and a 15-member delegation have just returned from a trade mission to Vietnam and the Philippines. The mission, coordinated by the Iowa Economic Development Authority (IEDA), included representation from Iowa’s livestock and grain organizations as well as other agricultural associations. The purpose of the mission was to encourage trade development, bolster partnerships and identify opportunities to expand export markets.
In 2022, Iowa companies exported $227 million in agricultural goods to Vietnam and $273 million to the Philippines. Southeast Asia has considerable trade potential, and Vietnam, as one of the fastest growing feed markets in the world, and the Philippines, as the region’s second most populous country with a need for consistent food access, both offer trade and industry development opportunities.
Vietnam and the Philippines both ranked in the top 10 U.S. agricultural export markets in 2022. Vietnam was the second largest soybean meal market for U.S. exports in 2022, and the Philippines had become the major U.S. ethanol importer for the region as the ninth largest market in 2021. Beef and pork exports are also a key market while the region’s animal protein consumption is expected to increase by 20% over the next five years.
“Vietnam and the Philippines are already important trading partners for Iowa, but we have an opportunity to increase our market share because of their growing populations and our longstanding reputation as a dependable, proven, and consistent supplier of high-quality products,” said Secretary Naig. “Our global customers welcome the opportunity to meet with Iowa farmers, and these relationships will benefit us long-term as we seek to sell more Iowa corn, pork, soybeans, beef, biofuels and many other products.”
The Iowa ag delegation visited areas in and around Ho Chi Minh, Vietnam and Manila, Philippines, from March 24 – April 1. The business meetings included trade policy updates, information sessions on Iowa’s agricultural industry and business development discussions. The delegation included Iowa companies from the ag processing industry and representatives from the Iowa Beef Industry Council, Iowa Corn, Iowa Farm Bureau Federation, Iowa Pork Producers Association and the Iowa Soybean Association. IEDA worked with the U.S. Grains Council, U.S. Meat Export Federation and U.S. Soybean Export Council to identify business prospects for the mission.
IEDA’s International Trade Office connects Iowa companies with markets for their products and services, educates Iowa businesses on exporting and assists global companies wishing to establish or expand operations in Iowa. To find out more about these services or other trade missions, visit iowaeda.com.