Hanoi (VNA) – Vietnam and Canada have agreed to further strengthen economic and trade ties as well as supply chain connectivity amid growing uncertainties in global commerce.
The issue was discussed at a meeting between Minister of Industry and Trade Le Manh Hung and Canadian Ambassador to Vietnam Jim Nickel in Hanoi on May 11.
The two sides noted the positive momentum in bilateral relations in recent years, particularly in trade, investment and economic cooperation. Canada is now one of Vietnam’s important trading partners in the Americas while Vietnam remains Canada’s largest in ASEAN. Their trade has doubled over the past four years, rising 18.8% year-on-year to 8.6 billion USD in 2025.
Nickel highlighted Vietnam’s growing role in global supply chains, describing the country as a reliable supplier of goods to Canada which, in turn, has strengths in energy, critical minerals and agricultural products.
Against the backdrop of global trade volatility, both countries share support for an open, transparent and rules-based multilateral trading system, he said.
The ambassador also commended Vietnam’s role as Chair of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in 2026, host of the Asia-Pacific Economic Cooperation (APEC) forum in 2027, and its ASEAN rotating chairmanship later. He thanked Vietnam for its active coordination with Canada in regional cooperation mechanisms and expressed his hope for its support for Canada’s hosting of APEC in 2029.
The two sides agreed to work closely on preparations for the third meeting of the Vietnam – Canada Joint Economic Committee and a bilateral business forum scheduled for early June 2026 in the North American nation.
For his part, Hung said bilateral economic, trade and investment ties have maintained positive growth despite a challenging international environment, adding that cooperation potential remains substantial.
The minister stressed that both countries’ participation in the CPTPP has generated practical benefits, helping boost trade, investment, business connectivity and supply chain linkages. He also welcomed Canada’s support for activities and initiatives during Vietnam’s CPTPP chairmanship in 2026 and affirmed Vietnam’s backing for Canada’s hosting of APEC in 2029.
He asked Canada to continue working closely with Vietnam and its Ministry of Industry and Trade in bilateral and multilateral cooperation mechanisms, thereby creating a new impetus for trade and investment partnerships.
At the meeting, the two sides also discussed the negotiations on the ASEAN – Canada Free Trade Agreement (ACAFTA). Hung said Vietnam highly values relevant parties' efforts to substantially conclude talks in 2026 and called on Canada to continue playing a constructive and flexible role in addressing outstanding issues so as to achieve a substantive, balanced and mutually beneficial deal.
He expressed confidence that once concluded and signed, the agreement will create fresh momentum for economic, trade and investment cooperation between ASEAN and Canada, including between Vietnam and Canada.
The minister also suggested that the two countries continue to strengthen support for businesses to effectively utilise the commitments under the CPTPP, promote trade and investment, and create more favourable conditions for Vietnamese goods to participate more deeply in supply chains and distribution systems in Canada./.
