It’s fitting that Nebraska Gov. Pete Ricketts included Vietnam on his current Asia trade mission. Vietnam, with a population of 95 million, has one of Asia’s fastest growing economies. Growth this year is expected to top 6%. Long-term projections indicate a major increase in middle-class incomes there, making the country appealing for Nebraska beef exports.
Plus, in the wake of U.S.-China trade tensions, American companies are redirecting significant investment to Vietnam. In response, Vietnam is working to make itself even more accommodating to U.S. investment and exports.
Vietnam at present is only Nebraska’s 12th largest agricultural export market, but in the future it’s likely to grow in importance. Strengthening trade ties now is the right move.