Business

Vietnam, Canada strengthen ties in production, energy sectors

A forum aimed at strengthening Vietnam-Canada collaboration in the production and energy sectors has been held in Vancouver by Vietnam’s Trade Office in Canada in partnership with the Canada-ASEAN Business Council.

Minister of Industry and Trade Nguyen Hong Dien at the event (Photo: VNA)
Minister of Industry and Trade Nguyen Hong Dien at the event (Photo: VNA)

Hanoi (VNA) – A forum aimed at strengthening Vietnam-Canada collaboration in the production and energy sectors has been held in Vancouver by Vietnam’s Trade Office in Canada in partnership with the Canada-ASEAN Business Council.

Key figures at the forum included Vietnamese Minister of Industry and Trade Nguyen Hong Dien; Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng; Senator Clement Gignac, Co-chair of the Canada-ASEAN Parliamentary Friendship Group; and Vietnamese Ambassador to Canada Pham Vinh Quang, among others.

This inaugural business forum, focusing on energy and industrial collaboration, aimed to engage businesses from Canada’s West Coast in exploring opportunities beyond trade, particularly in renewable and nuclear energy.

Commercial Counselor at the Vietnamese Embassy Tran Thu Quynh emphasised that the forum's goal was to promote trade diversification and open markets, addressing the rising trends of nearshoring and protectionism. She highlighted Vietnam’s role as a key gateway to ASEAN, offering Canadian businesses direct access to the dynamic Indo-Pacific market.


Dien and Mary Ng emphasised the immense potential for economic, trade, and investment partnerships, with frameworks like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Indo-Pacific Strategy providing vital platforms for strengthening supply chain connection and production linkage.

Dien reiterated Vietnam’s commitment to a green economy, focusing on clean energy and nuclear power to meet its ambitious net-zero emissions goal by 2050.

Senator Gignac underscored great potential for both sides' cooperation, especially in energy and production but to realise it, the two countries must take strong actions and shared commitments.

Participants agreed on the importance of fostering connections among businesses, research institutions, and universities to support the development of Vietnam’s nuclear energy sector.

With bilateral trade already surpassing 10 billion USD, Vietnam and Canada are well-positioned for further economic growth. Leveraging Canada’s innovation and Vietnam’s strategic role within ASEAN, a region poised to exceed 650 million consumers by 2030, both nations are set to unlock new opportunities for collaboration and development./.

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