Vietnam is the world’s largest exporter of black pepper, accounting for over 50% of global production. Each year, Vietnam exports approximately 80,000 tonnes to the US, more than 60% of the US black pepper imports.
People enjoy beef "pho" - a traditional dish seasoned with typical Vietnamese spices at the event. (Photo: VNA)
Washington D.C. (VNA) - The Vietnam Embassy in the US and the American Spice Trade Association (ASTA) have recently co-hosted an event named “Navigating New Frontiers in Trade” in Washington D.C., to introduce Vietnam’s spice industry to local businesses and foster bilateral trade connections.
The event was attended by over 100 member companies of the ASTA, the Coffee and Cocoa Association, and import-export businesses of Vietnam, as well as representatives from the US Chamber of Commerce, the US-ASEAN Business Council, the US Grains Council, and commercial and agricultural attachés from ASEAN embassies in the US.
In his opening remarks, Vietnamese Ambassador Nguyen Quoc Dung emphasised that Vietnam is proud to be the world’s third-largest supplier and processor of spices, with an annual export value exceeding 1 billion USD (2024 data). The spice industry is promoting green production and developing raw material areas that meet the standards of major markets, demonstrating a commitment to food safety and sustainable development.
According to the ambassador, 2025 is especially meaningful as it marks the 30th anniversary of Vietnam–US diplomatic relations, with trade, including in the spice sector, serving as a key driving force. The US is currently one of the largest markets for Vietnamese spices, with black pepper as a flagship product and growing demand, opening numerous cooperation opportunities for businesses from both countries.
ASTA President Kerri Goad-Berrios emphasised that maintaining close relationships with spice-producing countries is crucial to the success of the US spice industry, and in fact, international cooperation is one of the core goals of the association.
The Vietnamese Trade Office in the US invited American businesses to the 2026 Vietnam International Spice and Pepper Outlook (VIPO), which is scheduled to be organised by the Ministry of Agriculture and Environment in Da Nang from March 3 to 5, 2026.
ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ Vietnam is the world’s largest exporter of black pepper, accounting for over 50% of global production. Each year, Vietnam exports approximately 80,000 tonnes to the US, more than 60% of the US black pepper imports. This highlights the significant role of Vietnamese spices, especially black pepper, in the US market./.
In the first seven months of 2025, Vietnam exported 145,046 tonnes of pepper worth 988 million USD. While export volume dropped 11.7% compared to the same period in 2024, value surged 29.3% thanks to higher average prices. Black pepper fetched 6,713 USD per tonne, up 47%, while white pepper reached 8,756 USD per tonne, up 41.2% year-on-year.
The Vietnam International Pepper and Spice Outlook 2025 (VIPO 2025) opened in Ho Chi Minh City on March 3, attracting more than 300 participants, who are experts, domestic and international producers and exporters, farmers, and representatives from localities.
A world leading spice exporter with a revenue of some 1.5 billion USD every year, Vietnam should bolster intensive processing and trade promotion to increase added values, experts have said.
Ho Chi Minh City, as the country’s largest economic and financial hub, is expected to take the lead in key areas such as capital markets, banking, and commodity trading. Meanwhile, Da Nang, with its strategic location and open-minded spirit, holds great potential to become a pioneer in sustainable finance, green finance, and digital financial services.
By aligning regulatory frameworks more closely with international practices, the Vietnamese Government expects to create a more transparent, efficient and investor-friendly market environment.
The Vietnam Investment and Finance Association (VIFA) in the UK has successfully organised the event “Financial Insights 2025” in London, aiming to strengthen financial and business ties between the two countries.
Equipped with the state-of-the-art Rolls-Royce Trent 700 engine, the A330 aircraft will immediately be put into operation on routes to Australia, Kazakhstan, India, Japan and Europe, offering passengers a modern and comfortable travel experiences.
To deliver on the goal, the document highlighted the need to remove such barriers as pre-funding requirement for foreign investors ahead of trades while the central counterparty clearing (CCP) is being developed. Transparency on foreign ownership limits should be enhanced across all areas, together with streamlined registration procedures for account opening and indirect capital registration.
From September 15, commercial banks and foreign bank branches must maintain a minimum capital adequacy ratio (CAR) of 8%, including at least 4.5% in Tier 1 core capital and 6% in Tier 1 capital.
The State Bank of Vietnam set the daily reference exchange rate at 25,216 VND/USD on September 15, unchanged from the last working day of the previous week.
One of the key growth drivers for the paper packaging industry is the boom in e-commerce, FiinGroup reported, forecasting that the size of Vietnam's e-commerce market will reach 60 billion USD by 2030, leading to a massive demand for corrugated cartons used for shipping.
The Finance Minister's mission in the UK and Italy is expected to unlock new cooperation opportunities across multiple high-potential sectors, contributing to economic and financial cooperation between Vietnam and European countries.
The application integrates artificial intelligence (AI) and is capable of analysing images of wood cross-sections, providing identification results with an accuracy of up to 98.6% in less than one second.
The EU is among the world’s top three importers of farm produce, but Vietnam holds only a 2% share – still modest compared to its agricultural production capacity and potential, which indicates vast growth potential in the EU if backed by a proper strategy.
Vietnam’s stock market has emerged as a key driver of economic growth, serving as a channel for medium- and long-term capital mobilisation and a launchpad for businesses to enhance governance and financial transparency, said insiders.
With clear planning and a complete legal framework, Vietnam could draw private firms’ participation in the project. This is not only about mobilising capital, but also about fostering supporting industries, improving management capacity, and advancing sustainable economic and social development.
The roundtable was regarded as one of the largest international aviation cooperation events held in Vietnam this year. It was positioned as an investment promotion platform, where businesses from both countries - particularly in the fields of aviation and hospitality - had the opportunity to meet, exchange insights, and explore new avenues for cooperation.
State-run Airports Corporation of Vietnam (ACV) has proposed establishing an integrated air logistics centre and non-tariff zone at Long Thanh International Airport in Đồng Nai Province with an aim to turn it into a regional cargo gateway.
In the long term, greater transparency in project listings, administrative reform, and synchronised infrastructure investment will help position HCM City as a real estate hub in Southeast Asia. The city has the opportunity not only to attract FDI into real estate, but also to expand into finance, asset management, and associated services.
To fully harness the sector’s market potential, Vietnam’s coconut industry must pivot towards sustainable development. Eco-friendly cultivation methods, climate resilience, and emissions reduction will be vital in the coming phase.
Milk and dairy products contributed 74.8 million USD, down 11.7%, while exports of meat, meat by-products and post-slaughter by-products brought home 137.7 million USD, representing a 30.4% increase.
PM Pham Minh Chinh demanded a more effective fiscal policy to complement monetary efforts, directing the central bank to focus on exchange rates, interest rates and risk management.
