The signing between Bình Sơn and ADM Asia-Pacific Trading Pte. Ltd. — VNA/VNS Photo Ngọc Quang

HÀ NỘI — Bình Sơn Refining and Petrochemical Joint Stock Company (BSR) on Tuesday signed memoranda of understanding with major US energy companies, marking a concrete step to expand bilateral cooperation in a sector seen as central to deepening Việt Nam–US economic ties.

BSR, under the witness of Acting Minister of Industry and Trade Lê Mạnh Hùng, signed MOUs with Chevron, Marquis Energy and ADM Asia-Pacific Trading Pte Ltd, focusing on crude oil supply for the Dung Quất Refinery, the potential supply of ethanol biofuel from the US and corn feedstock for ethanol production in Việt Nam.

The agreements come as Việt Nam and the US step up negotiations on a reciprocal, fair and balanced trade agreement aimed at establishing a stable and long-term framework for economic and trade cooperation. In this process, energy has been identified as a key sector supporting national energy security, expanding bilateral trade and contributing to a more balanced and sustainable trade relationship.

The Ministry of Industry and Trade said the signings underscore efforts to translate strategic cooperation between the two countries into concrete energy projects, helping to diversify supply sources, strengthen value chain linkages and open opportunities for long-term cooperation between companies from both sides.

BSR Director General Nguyễn Việt Thắng said the deals would help expand the company’s production and business, particularly through cooperation with US partners, while supporting sustainable development.

At the signing ceremony, Barbara Harrison, a representative of Chevron, said BSR was an important partner of the company, adding that Chevron hoped to continue supplying crude oil to ensure the Dung Quất Refinery operates safely and stably.

Meet with US Deputy Secretary of Agriculture, USABC

Acting Minister of Industry and Trade Lê Mạnh Hùng meets with US Deputy Secretary of Agriculture Stephen Vaden. — Photo moit.gov.vn

Hùng on the same day met US Deputy Secretary of Agriculture Stephen Vaden to discuss agricultural cooperation and bilateral trade on the sidelines of the sixth round of negotiations on a reciprocal and balanced trade agreement between the two countries.

The two sides held in-depth discussions on agricultural technology transfer.

Stressing that Việt Nam highly values US expertise in high-tech agriculture, including disease-resistant crops, sustainable water management and agricultural processing, Hùng proposed expanding expert exchanges, technology transfer, workforce training and the implementation of joint projects, particularly in ethanol production from corn and agricultural by-products.

On reciprocal tariff negotiations, Hùng said agricultural trade between Việt Nam and the US was complementary rather than directly competitive. He noted that Việt Nam had reduced import tariffs to zero on most US agricultural products and had signed a memorandum of understanding committing to purchase US$3 billion worth of US agricultural products during 2025–28.

Việt Nam’s imports of agricultural products from the US reached about $2 billion in 2025 alone, he added. On that basis, Việt Nam called on the US Department of Agriculture to support expanding the list of Vietnamese agricultural products eligible for zero reciprocal tariffs to improve access to the US market.

For his part, Stephen said the US was interested in issues including fruit market access, sanitary and phytosanitary measures and registration procedures for biotechnology products. He said the US planned to send two delegations to Việt Nam in March and November 2026 to promote agricultural trade and technology transfer, particularly in biotechnology.

On Monday, Hùng met executives from US energy, industrial and aviation companies under the US-ASEAN Business Council in Washington, stressing that Việt Nam wants to develop a stable, balanced and predictable economic and trade framework with the US.

Hùng said Việt Nam was ready to expand imports from the US, including high-tech equipment and aircraft, while prioritising cooperation in LNG, renewable energy, aviation, high technology and supply chains, and pledged to improve regulatory transparency and the investment climate for long-term US projects.

Hùng said the Vietnamese Government views the US business community as a long-term and trusted partner and pledged to strengthen policy dialogue and address business concerns within the legal framework to promote stable, substantive and sustainable economic and trade ties between Việt Nam and the US. — VNS