Business

Vietnam an Indo-Pacific priority of Canada: Official

Export Development Canada (EDC) is planning to open an innovation office in Ho Chi Minh City this autumn as Vietnam is one of the priority countries in the Indo-Pacific region of the North American nation, said an EDC official.
Vietnam an Indo-Pacific priority of Canada: Official ảnh 1Workers process farm produce for export. (Photo: VNA)
Ottawa (VNA) – Export Development Canada (EDC) is planning to open an innovation office in Ho Chi Minh City this autumn asVietnam is one of the priority countries in the Indo-Pacific region of theNorth American nation, said an EDC official.

Talking to the Vietnam News Agency (VNA)'s resident correspondent in Ottawa, Nathan Andrew Nelson, Chief Representativeand Vietnam & Innovation Director for the Indo-Pacific region of the EDC,said the EDC aims to enhance trade between the two countries.

He mentioned an investment of about 2 billion USD andconsidered this a trade opportunity for Canadian companies to invest in allfields in Vietnam.

Vietnam is currently the biggest trading partner of Canada inthe Association of Southeast Asian Nations (ASEAN). Bilateral trade hascontinually grown by over 50% since 2015 and reached some 10 billion USD in2023, statistics showed.

Vietnam is also an important partner of Canada under theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)as it offers numerous chances for Canadian products and services to access itsmarket as well as others in ASEAN, Nelson said.

Henoted Vietnam is one of the priority countries in the Indo-Pacific region ofCanada, and that it will become a bright star in the next 5-10 years.

Nelson expressed his excitement at theopportunities Canadian companies can have in Vietnam, adding he also looksforwards to Vietnamese firms who really wish to invest in Canada sothat the two sides can gain opportunities for cooperation and mutualassistance.

A delegationof 150 leading businesses of Canada led by Minister of Export Promotion, International Trade and EconomicDevelopment Mary Ng is scheduled to visit Vietnam next month. The tripis said to foster the two countries’ comprehensive partnership and expandCanada’s presence in the ASEAN region.

The minister had previously said that the coming trip will provide momentum for Canadian companies’operations in such dynamic markets as Vietnam.

Tran Thu Quynh, Trade Counsellor at the Vietnamese Embassy inCanada, said this will be the first time Canada sends such a large business delegation to Vietnam. Aside from seeking business partnership chances, theywill also engage in roundtable dialogues with executives of local firms.

She voiced her belief that the Canadian delegation will seeVietnam as a business partner, an investment destination, and a gateway for theNorth American country to enter ASEAN./.
VNA
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