AsemconnectVietnam - With advantages in production costs and a business system that increasingly meets quality standards, rules of origin, and sustainable development requirements, Vietnam is recognized as a reliable partner of Canada within the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) market bloc.

Vietnam-Canada exports experienced strong growth
Since the beginning of the year, despite global economic uncertainties, inflation, and the ongoing strong trend of supply chain restructuring, bilateral trade between Vietnam and Canada has maintained high growth, indicating significant potential for cooperation. According to the data released by Statistics Canada on June 9, 2026, the report from the Vietnamese Trade Office in Canada, presented at the Trade Promotion Conference with the Vietnamese Overseas Trade Offices in the second quarter of 2026, indicated that in the first four months of the year alone, Vietnam exported $4.88 billion worth of goods to Canada, a significant increase of 30.8% compared to the same period last year. This is the highest increase among Canada's top 10 import partners, far surpassing Mexico, the second-largest importer with a 19% increase.
Vietnam continued to maintain its position as ASEAN's largest export partner to Canada, accounting for 49% of Canada's total imports from the region, approximately three times higher than Thailand, the second-largest importer with 16%.
According to the report from the Vietnam Trade Office in Canada, if the current double-digit growth rate is maintained, Vietnam's exports to Canada in 2026 could potentially reach US$15 billion. At that point, Vietnam would surpass Germany to become Canada's fifth-largest supplier.
Contributing to this overall result was the growth of several key product groups. Machinery and equipment continued to lead with a turnover of US$1.48 billion in the first four months of the year, an increase of 80.9%, accounting for over 30% of total exports to Canada and projected to reach approximately US$4 billion for the whole year.
Notably, the footwear industry continued to make its mark, with Vietnam surpassing China to become Canada's largest supplier in this product group. This was the result of a combination of the increasingly improved production capacity of Vietnamese businesses and the shifting order trends of Canadian importers.
Besides the positive aspects, some sectors, such as seafood and furniture, are still under pressure. The main reasons stem from the slow recovery of purchasing power in Canada, increasingly fierce competition from ASEAN and South Asian countries, and the increased application of trade protection measures. However, the growth trend of bilateral trade remains very positive, and the prospects for market expansion are quite promising.
CPTPP continued to create momentum for sustainable trade development.
One of the key factors contributing to the positive results of Vietnam-Canada trade in recent years was the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) agreement.
After many years of implementing the agreement, the benefits of the CPTPP are becoming increasingly evident. The reduction of tariffs, simplification of trade procedures, and the creation of a transparent business environment have helped businesses in both countries access each other's markets more easily, while also enhancing the competitiveness of Vietnamese goods.
While Canada is pushing forward with its supply chain diversification strategy, Vietnam has emerged as one of the most reliable partners within the CPTPP. Not only does it have advantages in production costs, but Vietnam also possesses a business system that increasingly meets the quality standards, rules of origin, and sustainable development requirements set by the Canadian market.
Therefore, many product groups such as electronics, machinery, wood products, processed foods, coffee, cashews, dried fruits, and spices still have significant potential for market share expansion in Canada in the coming years.
Beyond trade in goods, the CPTPP also opens up opportunities for deeper cooperation in investment, logistics, clean energy, minerals, and high-tech supply chains. Canada's electric vehicle development strategy and new incentive programs are creating further opportunities for Vietnamese electronic components and manufacturing parts to participate more deeply in the North American regional value chain.
To effectively capitalize on these opportunities, the Vietnamese Trade Office in Canada has actively implemented numerous trade promotion activities in recent times. Notably, the Vietnamese booth at the SIAL Canada 2026 International Food Exhibition was organized, with the participation of 20 businesses, directly connecting them with many Canadian distribution systems and importers. Working programs in Saskatchewan and Toronto, along with various business forums, have also contributed to strengthening connections between the business communities of the two countries.
Alongside trade promotion activities, efforts to provide market information, early warnings about trade defense cases, and advice on the implementation of the CPTPP have also been intensified. This helps Vietnamese businesses be more proactive in meeting Canadian market regulations and developing long-term development strategies.
The outlook for bilateral trade in the remaining months of 2026 remains quite positive. Canada's need to diversify its supply sources continues to increase; the benefits from the CPTPP remain effective; and Vietnamese goods are increasingly building a reputation for quality and ability to fulfill orders.
However, the Vietnamese Trade Office in Canada still recommends that businesses closely monitor rules of origin and any potential trade defense cases. But if businesses continue to effectively utilize the advantages of the CPTPP, improve product quality, and strengthen connections with Canadian partners, trade relations between the two countries are expected to continue to grow sustainably.
CK
Source: VITIC/moit.gov.vn