HCMC – Vietnam and Canada have agreed on an action plan for 2026-2028, focusing on trade diversification, supply chain resilience, and cooperation in strategic industries, including critical minerals, high technology, clean energy, and logistics.
The agreement was reached at the third meeting of the Vietnam-Canada Joint Economic Committee (JEC 3) held on June 6. The meeting was co-chaired by Phan Thi Thang, deputy minister of Industry and Trade of Vietnam, and Arun Thangaraj, deputy minister of Global Affairs Canada.
To advance bilateral economic growth, the two sides agreed to prioritize three strategic areas. They are diversifying trade and investment, strengthening cooperation in key industries such as critical minerals, digital transformation, and innovation and expanding collaboration in energy and infrastructure, including clean energy development, liquefied natural gas (LNG), and logistics.
Two specialized working groups — one on trade, finance, and industry, and the other on growth promotion covering energy, green transition, and transportation — have finalized action plans and implementation mechanisms to ensure the effectiveness of future cooperation initiatives.
On the sidelines of the meeting, the Trade Promotion Agency under Vietnam’s Ministry of Industry and Trade and the Trade Facilitation Office (TFO) Canada signed the project document for the “Trade for Resilient, Inclusive and Sustainable Economic Growth” Initiative for the 2026-2030 period.
The initiative aims to support Vietnamese small and medium-sized enterprises (SMEs), particularly women-owned businesses, in improving production capacity and expanding access to export markets for key agricultural products.
Economic ties between Vietnam and Canada have strengthened significantly in recent years, driven in part by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Bilateral trade approached US$8.6 billion in 2025. Vietnam’s exports to Canada reached US$7.5 billion last year, up 18.2% from 2024, and continued to grow by 25% in the first four months of 2026.
Meanwhile, Canadian exports to Vietnam rose 24% in 2025 and surged 62% year-on-year in the January-April period of 2026, reflecting the growing momentum of trade between the two countries.
