Viet Nam is Biggest Trade Partner of Canada in ASEAN

9:31:22 AM | 2/21/2024

Viet Nam's trade value with Canada hit nearly CAD14 billion (or US$10.37 billion) in 2023, making the nation the biggest trade partner of Canada in ASEAN.

Vietnamese Ambassador to Canada Pham Vinh Quang released the above figure at a recent conference held in Ottawa, Canada.

At the event, Pham said, both Viet Nam and Canada share a common vision and interests about the Indo-Pacific.

Both nations committed to developing this region in an open, comprehensive and sustainable manner with respect for laws and regional structures to create a peaceful, and stable environment and promote closer economic linkage, he noted.

The two sides elevated ties to a comprehensive partnership in 2017, he said, adding that both countries are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

The conference which took place in preparation for the upcoming visit of Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng to Viet Nam from March 27-29.

Mary Ng is expected to be accompanied by 150 businesses operating in such areas as food processing, biomedical, clean energy, new technology, information technology, creative technology and aviation.

The visit aims to strengthen Viet Nam-Canada comprehensive partnership and increase the presence of Canada in ASEAN.

This is the first trade mission in 2024 organized by the Canadian Government as Canada is implementing the Indo-Pacific Strategy worth CAD2.3 billion (US$1.7 billion).

Launched in November 2022, the ten-year strategy is expected to see Canada fulfilling the goals of promoting peace, resilience and security, expanding trade-investment and supply chain resilience, investing in and connecting people, building a sustainable and green future, and consolidating partnerships.

Source: VGP