An overview of the conference (Photo: VNA) Participants assessed the level of awareness and utilisationof the CPTPP and sought a support and coordination mechanism to help Canadianand Vietnamese businesses maximise benefits from the pact as Canada is advancingits Indo-Pacific Strategy.
Evan Buie, Trade Commissioner at Global Affairs Canada's Regional Office forAlberta and Northwest Territories described Vietnam as an important trade partner of Canadaand Alberta, highlighting that Vietnam has been Canada's number one partner in the ASEAN region since 2015. He noted that Canada's top exports to Vietnam include agriculturalproducts, minerals, metals and industrial machinery.
Buie said that Global Affairs Canada is coordinating with the Vietnam TradeOffice in Canada to organise programmes to help businesses adjust theirproducts and services to suit export markets, especially the Vietnamese market. The GlobalAffairs Canada has a network of offices in 160 cities, including Hanoi and HoChi Minh City, he said.
Vietnamese TradeCounselor in Canada Tran Thu Quynh said that Alberta recorded high growth in exports to Vietnam after five years of CPTPP implementation.
She highlighted efforts of Vietnam in improving infrastructure system and introduced Vietnam's investmentattraction policy in comparison with ASEAN countries.
Alberta currently exports many products such as oil and gas,machinery and especially agricultural products to Vietnam, while importinggarments, electronics and footwear from the Southeast Asian country.
According to Director of Trade at Edmonton Global ManishaArora, with the effective exploitation of CPTPP, businesses from both sideswill have a better understanding of each other's product structure and furtherstrengthen their trade and investment relations.
ASEAN is currently the fifth largest economy and also the most dynamic economicregion in the world. The region is predicted to be the world's consumption centreby 2030 thanks to its market size.
Arora said Vietnam has been an important partner of Canada in ASEAN forthe past 50 years and is the leading destination in ASEAN for Canadian goods witha 7% annual growth rate over the past 30 years. Vietnam is considered as agateway for Canadian companies that wish to develop in this region.
TB Nguyen, Director of Canada-ASEAN Business Council (CABC), cited the agency's latest reportas saying that Canadian businesses consider Vietnam as the country with themost opportunities in the ASEAN region, because it is emerging as a new hub fortrade, investment and innovation.
Businesses planning to establish their facilities in Vietnam such as CustomerMaps or Senescene Life also assessed that Vietnam is a dynamic and potentialmarket. This is the time for Alberta businesses to seize business opportunitiesin Vietnam, and take advantage of Vietnam to enter ASEAN, they said./.
VNA
