Business

Vietnam, Canada need to take advantage of CPTPP

Vietnam and Canada should utilise the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which both are signatories, and other free trade agreements (FTAs) to better facilitate bilateral trade and investment ties, Vietnamese Ambassador to Canada Pham Cao Phong has said.
Vietnam, Canada need to take advantage of CPTPP ảnh 1At the “Developing the Vietnam-Canada Business Partnership” webinar (Photo: VNA)

Ottawa (VNA) - Vietnam and Canada should utilise the Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which bothare signatories, and other free trade agreements (FTAs) to better facilitatebilateral trade and investment ties, Vietnamese Ambassador to Canada Pham CaoPhong has said.

Despite the serious impact of the COVID-19pandemic, Vietnam-Canada relations continued to flourish in 2020, with two-waytrade enjoying a year-on-year rise of 11.2 percent, Phong told the “Developing theVietnam-Canada Business Partnership” webinar held jointly by the VietnameseEmbassy, the Government of Quebec, and the ASEAN-Canada Business Council onJanuary 20.

He added that the pandemic is also a chance forthe two countries to seek more innovative and effective measures to fosterbilateral relations.
Vietnam, Canada need to take advantage of CPTPP ảnh 2Vietnamese Ambassador to Canada Pham Cao Phong (Photo: VNA)

John F.G Hannaford, Deputy Minister ofInternational Trade at Global Affairs Canada, said he admires Vietnam’s effectiveresponse to COVID-19 and affirmed the important role of internationalcooperation amid the pandemic.

Vietnam’s maintenance of an open supply chainfor essential goods and services has supported uninterrupted trade flowsbetween Canada and Southeast Asia, he said, stressing that Canada commits tointensifying its trade ties with Vietnam.

Canada sees big opportunities for cooperationin the fields of food processing, agriculture, education, information andcommunications technology, and infrastructure in Vietnam, and hopes to attractmore investment from the country, he added.

Speaking at the webinar, Deputy Minister ofIndustry and Trade Do Thang Hai said that Vietnam can be viewed as a “centre ofFTAs”, with several major and important agreements signed recently, such as theCPTPP (representing 13 percent of global GDP), the EU-Vietnam Free TradeAgreement (16 percent of global GDP), and the Regional Comprehensive EconomicPartnership (RCEP) (32 percent of global GDP).

The country hopes to be a reliable destinationand bridge connecting Canada and ASEAN and the Asia-Pacific, Hai said.

As of November 2020, Canada was 14th amongcountries and territories investing in Vietnam, with 212 projects worth over5.05 billion USD./.
VNA
#Vietnam #Canada #CPTPP #Pham Cao Phong #Vietnam #VietnamPlus #Vietnam news Canada
Follow VietnamPlus

Related News

Webinar spotlights Vietnam-Canada trade in CPTPP in post-COVID era

Webinar spotlights Vietnam-Canada trade in CPTPP in post-COVID era

The Embassy of Vietnam in Canada in coordination with the Canada-Vietnam Trade Council on December 3 held a webinar on “Vietnam – Canada Trade in CPTPP: Ways Forward and Recommendations for the Post-COVID Era”, bringing together about 70 delegates from both sides.

See more

Vietjet offers millions of tickets worth 0 VND on all domestic and international flights. (Photo: Vietjet)

Vietjet offers big promotion to celebrate April 30-May 1 holiday

Accordingly, from 12:00 on April 1 to 23:59 on April 5, Vietjet opens sale of Eco tickets priced from only 0 VND for passengers booking flights at the website www.vietjetair.com and Vietjet Air mobile app, with convenient flight times from April 15, 2025, to March 28, 2026.

At the meeting between Minister of Construction Tran Hong Minh and Chinese Minister of Transport Liu Wei (Photo: Ministry of Construction)

Vietnam, China forge ahead with transport cooperation

From late 2023 to December 2024, the Vietnamese Ministry of Transport (now the Ministry of Construction - MoC), China’s National Development and Reform Commission (NDRC), and the China International Development Cooperation Agency (CIDCA) signed six documents to advance the construction of railways linking the two nations.

Delegates cut the ribbon to open the expo. (Photo: VNA)

Int’l expo spotlights sustainable shrimp farming

Co-organised by the Directorate of Fisheries, the Vietnam Fisheries Society (VINAFIS), and the Vietnam Fisheries Magazine, the three-day event features over 200 booths from nearly 150 domestic and international enterprises.

Secretary of Hung Yen province Party Committee Nguyen Huu Nghia (left) meets with Liu Jianchao, head of the International Liaison Department of the Communist Party of China Central Committee. (Photo: VNA)

Hung Yen province strengthens investment cooperation with Chinese localities

Hung Yen is eager to closely collaborate with Chinese localities to effectively implement the common perceptions reached by the two countries' high-ranking Party and State leaders, as well as the joint declarations issued by both sides, said Secretary of the provincial Party Committee Nguyen Huu Nghia.

Illustrative image (Photo: VNA)

PM directs creating fertile ground for SMEs

Released on March 25, the directive underscored the pivotal role of the private sector, particularly SMEs, which constitute 98% of all active businesses in the country.

At the MoU signing ceremony (Photo: moit.gov.vn)

Vietnam, UK sign MoU on consumer protection

At the signing ceremony, Deputy Minister Phan Thi Thang affirmed that the MoU not only represents a milestone in the cooperation between the two sides but also demonstrates the ministry’s commitment to protecting consumer interests in an increasingly interconnected global marketplace.

Delegates attend the ground-breaking ceremony of a super white flower glass factory on March 25. (Photo: VNA)

Work begins on two construction material plants in Hue

In his speech at the groundbreaking ceremony, Chairman of the People's Committee of Hue City Nguyen Van Phuong said these two key projects are expected to drive significant progress in the city's manufacturing industry, contributing to the goal of achieving double-digit economic growth in line with the Government's target.

The signing ceremony of the MoU between the Vinh Phuc Investment Promotion and Business Support Centre and its partners at the dialogue. (Photo: VNA)

Vinh Phuc holds dialogue to address business challenges

A leader of Vinh Phuc pledged to step up reforming administrative procedures, accelerate land clearance, and enhance digital services to guanrantee a favourable and transparent investment and business climate for enterprises to operate and grow.

Permanent Deputy Prime Minister Nguyen Hoa Binh (R) speaks at the roundtable on the building of financial centres in Vietnam in Germany. (Photo: VNA)

Deputy PM Nguyen Hoa Binh discusses financial centre development with ECB

With the country’s National Assembly expected to issue a resolution this year on the establishment of international financial centres, Binh said the Vietnamese Government hopes to obtain the ECB’s advice in shaping policies for financial regulation, investment attraction, risk management, and anti-money laundering efforts.

Hanoi greens traffic roads (Photo: VNA)

Vietnamese contractors aim for global stage with mega projects

Nguyen Thanh Nghi, then Minister of Construction, said over the past four decades, more than 120 large-scale projects of national significance have been completed. Many of them feature innovative structural designs, new construction techniques, and cutting-edge technologies, some introduced in Vietnam for the first time or holding regional importance.