Minnesota's Agriculture Commissioner and members of two Taiwanese agricultural associations recently signed an agreement to promote more corn and soybean trade between Minnesota and Taiwan. Minnesota Department of Agriculture (MDA) commissioner Gene Hugoson signed a memorandum of understanding (MOU) with representatives of the Taiwan Vegetable Oil Manufacturers' Association and the Taiwan Feed Industry Association to actively promote trade of key agricultural products.

By signing the MOU, the participants agreed to mutually cooperate on promotional trade activities including exchanging invitations to trade conferences and trade fairs, organizing trade missions, establishing links between their respective trade web sites and developing additional trade materials. The MOU also included an agreement that the terms, quantities, prices and conditions for the purchase and sale on Minnesota corn and soybean exports shall be negotiated privately between importers and private suppliers.

Commissioner Hugoson said signing the MOU will strengthen the state's international trade opportunities. "Having a mutually signed agreement to cooperate on trade issues will definitely help boost demand for Minnesota products in Taiwan as well as other promising markets," he said.

Other dignitaries participating in the signing included Han-yeh Wang, governor of the Taiwan Vegetable Oil Manufacturers' Association, Wen-yuh Huang, assistant general secretary of the Taiwan Feed Industry Association, Thomas Chen, director of the Taipei Economic and Cultural Office in Chicago, and the group's leader, Paul Sun, chairman of the World Vegetable Center in Taiwan.

Two Taiwanese trade delegations are touring the U.S. this month as part of a U.S. procurement tour. The agricultural delegation, led by Chairman Sun, is expected to sign four letters of intent with the U.S. to purchase $3.9 billion worth of soybeans, corn, wheat, and beef. Taiwan in the fifth-largest overseas market for U.S. agricultural products.