Vietnam needs to devise a long-term trade promotion strategy to make inroads into the Canadian market, the potential of which has not yet been fully captured, Standing Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Hoang Van Dung said in a workshop in Hanoi on October 14.

He described Canada as an attractive market for businesses around the world, with annual import revenues of close to 500 billion USD.

Canadian Ambassador to Vietnam David Devine said cooperation between the two countries had developed continuously since they established their diplomatic ties 40 years ago, especially in the field of trade.

Vietnam mainly exports seafood, cashew nuts, coffee, footwear, timber products and spare parts to Canada , while importing machinery, equipment, and cattle food.

Building consumer trust should be a priority for Vietnamese businesses and is an important factor for entering the highly competitive market, the Ambassador suggested.

Local entrepreneurs should build a website that is user-friendly and rich in content, as well as creating links between trade partners, he added.

Experts said agencies such as the VCCI and the Ministry of Industry and Trade, and associations needed to work harder to promote bilateral trade and strengthen delegation exchanges in a bid to forge links between the two business communities.

Last year, two-way trade reached close to 2 billion USD.-VNA