Vietnam - Canada: Open Opportunity for Trade Exchange

The visiting Atlantic Canada trade mission included transportation and education officials from the Halifax Port of Nova Scotia province, the Dalhousie Port of New Brunswick province, the Halifax Stanfield International Airport, and the Atlantic Gateway Advisory Council. The mission aimed to build bilateral trade and education links between Vietnam and Canada. Education officials of Canada wanted to introduce famous universities to attract more Vietnamese students to study in Canada.

 

Delivering an opening address, Canadian Consul General Audri Mukhopadhyad emphasised that trade and investment ties between Vietnam and Canada are expanding very quickly. The two-way trade surpassed an all-time high of C$1.3 billion in 2008, up 21.3 percent from 2007, and five times greater than the 1997 value. Canada ranks the ninth largest amongst 80 countries and territories investing in Vietnam. Mr Audri Mukhopadhyad affirmed that Vietnam continued to be a magnet for Canadian and international businesses building their global supply chains through Asia. Vietnam is a larger importer as well as exporter. Thus, Canada can export its goods to and import a wide range of commodities from Vietnam. This is an opportunity for Vietnamese and Canadian transport sectors to forge the cooperation for mutual benefits.

 

At present, transport links between Southeast Asia and Canadian Atlantic Gateway are rated potential with many competitive advantages like quick merchandise clearance, deepwater ports, wide port yards, etc. To promote the above advantages, Canada wants to boost relations with Vietnam, which also has port advantages and is the gateway to the Indochinese region. Vietnam is planning to enlarge its ports to serve national and regional economic development. Halifax Port of Canada creates the shortest shipping link between the two nations through the Suez Canal and this is the very shipping route Canada wants to cooperate with Vietnamese partners. Ms Karen Oldfield, President and CEO of Halifax Port Authority, said Canadian businesses regard shipping as the most effective way to enhance their competitiveness in supply chains.

 

Vietnam is now investing heavily in its port infrastructure to handle greater volumes of cargo and to berth larger ships. The increase in Vietnam’s container capacity creates tremendous growth potential for Atlantic Canada shippers.

 

Among the objectives of Canada’s Atlantic Gateway mission is to pursue twinning opportunities between Atlantic Canadian and Vietnamese ports. In 2009, despite negative impacts of global economic crisis, the exported cargo volume from Canada to Vietnam through this port considerably increases. Woodwork, apparels and footwear are Vietnam’s main exports from Vietnam via Halifax Port while timber is one of major exports of Canada.

 

In education, Mr Audri Mukhopadhyad said, in 2007, the Canadian Embassy and the Canadian Consulate General in Vietnam launched comprehensive education campaigns to increase the number of Vietnamese students selecting Canada as their top choice for an international education. In 2008, Canada issued visas for 589 Vietnamese students to study in the North American nation, an increase of 125 percent from 2007. At this conference, education officials from the Atlantic Canada also exchanged and introduced Canadian education to attract Vietnamese students to follow their education in Canadian high schools and universities. Earlier, the Atlantic Canada trade mission signed five education agreements with Vietnamese partners. Besides, Nova Scotia province also stroke agreements on education, shipping and trade ties with Ba Ria - Vung Tau province of Vietnam.