HCMC – Businesses from Vietnam and Canada are seeking to strengthen trade relations, heard a seminar held in HCMC today, August 8.
The seminar, organized by the HCMC Investment and Trade Promotion Center (ITPC) and ATIM Consulting, brought together businesses from both countries to explore opportunities for more cooperation.
Vietnam is now Canada’s largest trading partner within ASEAN, while Canada is the third-largest trading partner for Vietnam in the Americas. Despite global economic challenges, bilateral trade amounted to US$14 billion last year.
“Vietnam and Canada have enjoyed a robust and growing relationship over the past 50 years,” said Tran Phu Lu, director of ITPC. “The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has opened up new opportunities for both countries, allowing for stronger trade in goods and services.”
In the first half of this year, Vietnam’s exports to Canada amounted to US$3 billion, with key products including textiles, machinery, wood products, seafood, and cashew nuts. Vietnam primarily imports wheat and soybeans from Canada.
Canada is a significant foreign investor in Vietnam, with over 247 projects worth more than US$4.82 billion as of 2023.
ITPC is actively assisting Vietnamese businesses in connecting with Canadian buyers and importers. The organization is proposing solutions to boost exports in key sectors such as agriculture, food and beverages, wood and furniture, and handicrafts.
Businesses from both countries also expressed keen interest in expanding cooperation in sectors like tourism and renewable energy.
