Vietnam-Canada relations boast huge potential for stronger developmentMonday, November 20,2023
AsemconnectVietnam - Vietnam always views Canada as one of its most important partners, particularly as it is the second largest partner behind the United States in the Americas, while Canada regards Vietnam to be its largest trading partner in ASEAN, as well as a gateway to help Canadian firms make inroad into the region.
In his speech at the ceremony, Vietnamese Ambassador to Canada Pham Vinh Quang emphasized that the Vietnamese side always considers Canada to be a true friend and partner. After half a century, the two sides have witnessed positive changes in their relationships, especially since the establishment of a Comprehensive Partnership in 2017.
Mutual relations have contributed to realizing Canada's Indo-Pacific Strategy and Canada's strategic partnership within the ASEAN region, Ambassador Quang added.
Ghislain Robichaud, regional director for Québec & Nunavut at Global Affairs Canada, said that Vietnam remains the focus in terms of the priorities in the Indo-Pacific Strategy that Canada is currently implementing.
The future of the relationship is therefore promising, especially in the field of trade thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
At present, the Indo-Pacific region is the second largest international export market for the province of Quebec and is also one of the Canadian markets that has boasted the strongest growth rate over recent years.
Since 2018, when the CPTPP was carried out, the Quebec government supported more than 250 provincial businesses in expanding operations to the country.
This year has seen CABC launch a broad array of activities in a bid to boost Canadian trade and investment in ASEAN, with a particular focus on the Vietnamese market amid the occasion of the 50th anniversary of both nations’ diplomatic relations.
Most recently, CABC co-ordinated with the Canadian Consulate General in Ho Chi Minh City to hold the Clean Energy Conference under a programme aimed at supporting the Vietnamese Government and businesses in energy conversion and climate change adaptation to ensure energy security.
CABC Executive Director TB Nguyen said Vietnam plays an important role among the Asian countries that the council is targeting, especially in the context that the two countries are celebrating half a century of diplomatic ties.
The celebration ceremony is taking place as part of a series of events that CABC has been organizing in both Canada and Vietnam as a means of contributing to enhancing this relationship and creating an economic corridor between the two sides, he added.
Together with Canada, the Quebec government has made the Vietnamese side its priority and considers the country to be a new intersection in the global value chain because of great potential in a number of key fields that Quebec is interested in.
Quebec currently enjoys a dynamic and innovative economy in sectors such as aerospace, information technology, artificial intelligence, biotechnology, and renewable energy.
Director General of the Indo-Pacific Region Gabriel Chartier of the Quebec Ministry of International Relations and Francophonie shared that Quebec and Vietnam share similarities because they both have the same Francophone cultural background.
In fact, the two sides have had close co-operative ties for a long period of time and since the co-operation agreement signed in 1992, both parties have signed 125 bilateral co-operation projects.
Bilateral trade relations have recently reached more than CAD2 billion, equal to US$1.5 billion, of which the nation primarily imports from Quebec electronic equipment, agricultural and medical products, while exporting electronics, footwear, and clothes to Quebec.
The two sides are also poised to implement new collaboration projects as a mean of diversifying ties, including in culture, sustainable development, and technology research.
Canada, alongside G7 countries, have pledged to support the country in mobilizing US$15.5 billion to achieve the goal of reaching zero emissions by 2050. CABC has also set similar goals and will work with other parties to realise this plan.
CABC was established in 2012 by Canadian companies operating in ASEAN. The organization is responsible for strengthening trade relations between Canada and ASEAN, with CABC currently headquartered in Singapore with an office in Montreal.
US issues conclusion on tax evasion investigation of VNese steel pipe products
Measures sought to tap Vietnam - China - Russia intermodal rail transport route
Vietnam underlines importance of climate action at APEC Leaders’ Meeting session
Symposium highlights Vietnam-Australia cooperation on cattle raising
Vietnam promotes investment opportunities in United States
HCM City, US partners promote cooperation in smart urban development
Vietnam furthers bilateral, multilateral cooperation mechanisms to achieve goals
World Bank supports rapid growth, comprehensive development in Vietnam
FTA boosts trade between Vietnam, Eurasian Economic Union: officials
State President begins US trip, attends APEC summit
Vietnam plays by the rules as it increases its role in APEC
Cao Bang studies Niagara region's experience in cross-border trade, tourism
Can Tho seeks investment from Republic of Korea in large-scale industrial production
Vietnam cashes in on FTAs to boost exports: Minister