VCCI Vice President Vo Tan Thanh speaks at the workshop. (Photo: VNA) Canada is currently Vietnam's second largest trading partnerin the American market, while Vietnam is Canada's largest trading partner inthe Association of Southeast Asian Nations (ASEAN). Since the establishment of theircomprehensive partnership in 2017, trade turnover between the two countries has increasedstrongly, recording more than double-digit growth over the years.
Between 2017 and 2021, the bilateral import-export valuerose from 3.5 billion USD to 6.03 billion USD. In the first seven months of2022, the figure stood at over 4.27 billion USD.
VCCI Vice President Vo Tan Thanh said Vietnam has greatpotential in supplying items such as textiles, garments, footwear, farmproduce, and wooden products to the Canadian market, while Canada is areliable manufacturer of such items as machinery, and raw materials forindustrial production.
Although trade between the two nations has made positiveprogress, it is still not commensurate with the potential of theirrelationship, Thanh noted, suggesting the two sides tackle hurdles and facilitatetheir enterprises’ access to the respective markets.
CEO of Intrinsic Innovations Vietnam Tuan Le said anadvantage of Vietnam in approaching the Canadian market is a community of morethan 260,000 Vietnamese expatriates there.
Oversea Vietnamese in Canada have been making important contributions to the Canadian economy and connecting the twocountries, he added.
Brent Jensen, investment and trade director at EdmontonGlobal, a Canadian-based FDI and international business development agency,recommended Vietnamese firms take advantage of incentives to approach and learnabout cooperation opportunities in fields of their advantages such asagriculture, education, and vocational training, thereby exploiting thepotential of the North American market./.
VNA
