Vietnam and Canada aim to enhance trade cooperation: Reports

The recent second meeting of the Vietnam–Canada Economic Joint Committee in Hanoi fostered a fresh dialogue between the governments, strengthening the Comprehensive Partnership, with economic cooperation at its core.

Minister of Industry and Trade Nguyen Hong Dien, in his opening speech, highlighted the significant progress in relations, particularly in trade and investment, post the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) implementation even as he highlighted the potential for enhanced cooperation, underlining the complementary nature of the two economies and existing collaboration frameworks.

Vietnam–Canada Economic Joint Committee opened its second meeting recently looking to enhance trade and investment collaboration.
Meeting created new dialogue between two governments, helping deepen Comprehensive Partnership.
Various trade bodies of Canada and Vietnam suggested creating favourable conditions for two sides to develop trade and investment ties.

The joint committee was urged to play a pivotal role in bolstering bilateral cooperation across various sectors like economy, trade, investment, agriculture, and science-technology. The minister of Industry and Trade stressed the need for consolidating and fortifying the bilateral supply chain through cooperation review, obstacle removal, and priority identification.

Meanwhile, Canadian minister of International Trade, Export Promotion, Small Business, and Economic Development Mary Ng commended Vietnam’s role in Canada’s Indo-Pacific Strategy (IPS) and led a commerce delegation to explore trade and investment prospects, aiming to fortify the supply chain and fulfil IPS objectives.

Chaired by deputy ministers Phan Thi Thang and Rob Steward, the meeting encompassed discussions on trade, investment, agriculture, energy, finance, customs, science-technology, education, training, and energy transition.

Participants, including the Business Council of Canada, Canada-ASEAN Business Council, and Vietnam Nam Chamber of Commerce and Industry, advocated for conducive conditions to enhance trade and investment ties.

Established in January 2022, the joint economic committee’s first meeting took place in Vancouver in July, marking the commencement of a new dialogue fostering deeper economic cooperation within the Comprehensive Partnership.

Fibre2Fashion News Desk (DR)