A Vietnam Business Forum was organised in Toronto city of Canada on October 26 - Illustrative image (Source: VNA)

Ottawa (VNA)
– A Vietnam Business Forum was organised in Toronto city of Canada on October 26 as an effort to call for Canadian investment and foster cooperation between the two countries’ enterprises.

Addressing the event, Premier of Ontario Kathleen Wynne said she was impressed by Vietnam’s economic growth.

She expressed her delight at the development of the two countries’ relations based on cooperation in trade and connectivity between the two business communities. She added that she hopes for expanded cooperation in other fields in the time to come.

Vietnamese Ambassador to Canada Nguyen Duc Hoa said that the two countries have yet to fully tap their cooperation potential as they do not understand each other’s market and investment policies thoroughly.

Therefore, the Vietnam Business Forum was a chance for both sides’ enterprises to discuss and promote new business initiatives and strategies, Hoa believed.

In his report delivered at the forum, former Canadian Ambassador to Vietnam David Devine said that Canadian enterprises are facing various challenges, including language barrier, cultural differences, investment climate, market, administrative procedures and the way of business.

He suggested Canadian businesses to seek cooperation opportunities with Vietnamese partners.

Participants to the event also discussed support services for Canadian exporters, export prospects for multi-lateral enterprises and prospects for small- and medium-sized enterprises.

Two-way trade between Vietnam and Canada reached nearly 5 billion USD in 2016. Vietnam currently leads ASEAN in terms of trade turnover with Canada.

The forum took place nearly two weeks ahead of Canadian Prime Minister Justin Trudeau’s official visit to Vietnam and attendance at the APEC Economic Leaders’ Week.

The forum and the visit are expected to open up more cooperation opportunities for the two countries.

Ontario Premier Kathleen Wynne is also scheduled to lead a business delegation to Hanoi and Ho Chi Minh City from December 3-6 to boost business and investment cooperation.-VNA