Monday, April 09, 2007

Missouri targets Vietnam with exports

St. Louis Business Journal - April 9, 2007

The Missouri Department of Agriculture said Monday that Missouri companies are expected to ship more than $2 million in agriculture products in the coming months, as a result of activities initiated by the state's Taiwan Trade Office. One export target: Vietnam.

Last year, Missouri exported nearly $3.6 million in agricultural products, including wood, leather and processed foods, to Vietnam, according to U.S. Department of Commerce figures. The state's total exports to Vietnam in 2006 totaled nearly $9.8 million.

In 2006, the U.S. set a record for total agricultural products exported to Vietnam with more than $287 million compared to $103 million in 2002.

"About 10 years ago, Missouri's Taiwan Trade Office began initiating sales of Missouri's agricultural-related products and equipment in Vietnam because of their large population and rapidly growing economy," Tony Stafford, division director of the Agriculture Business Development Division at the Missouri Department of Agriculture, said in a statement. "Vietnam's growing manufacturing base is an ever-increasing market for products such as Missouri-grown cotton and Missouri hardwood logs and lumber. The manufacturing sector is also creating markets for Missouri-produced food ingredients, livestock feed ingredients and equipment."

U.S. exports of agricultural products to Vietnam more than doubled in January compared to the same month last year, according to the state's agriculture department. Monthly export figures for the state were not available.