The largest Canadian business delegation ever came to Vietnam to seek investment cooperation opportunities.
Nearly 250 members from nearly 200 Canadian businesses in the fields of agriculture – food, technology – clean energy, health – healthcare and information technology came to Vietnam to explore investment cooperation opportunities…
At a working session with Minister of Industry and Trade Nguyen Hong Dien on March 27, Canadian Minister of Economic Development, International Trade and Export Promotion Mary Ng said that this Canadian trade delegation to Vietnam is the largest ever.
Canada values Vietnam’s leading role in implementing its Indo-Pacific Strategy and wishes to deepen economic and trade cooperation with Vietnam and other countries in the region.
Ms. Mary Ng expressed her gratitude to the Ministry of Industry and Trade and other ministries, branches and localities of Vietnam for their close coordination and support for the delegation in organizing conferences and seminars to introduce policies and connect businesses within the framework of activities in Vietnam from March 26 to 29, 2024, helping Canadian businesses learn about the market and new trade and investment cooperation opportunities, and strengthen supply chain connections in Vietnam and the region.
Minister of Industry and Trade Nguyen Hong Dien was pleased to say that the cooperative relationship between Vietnam and Canada has made great strides in many areas. Especially since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), of which Vietnam and Canada are members, took effect, trade and investment between the two countries have grown positively.
“Based on the close complementarity of the two economies, along with the fundamental cooperation frameworks that the two sides have established, the potential for developing relations between the two countries is still very large,” Minister Nguyen Hong Dien said, adding that like Canada, Vietnam has an open economic policy and participates deeply in the global supply chain.
Up to now, Vietnam has had trade relations with 224 partners and cooperative relations with more than 300 international organizations; has signed more than 90 bilateral trade agreements, nearly 60 investment promotion and protection agreements; negotiating, signing and implementing 18 bilateral and multilateral FTAs with most major economies in the world; of which 16 FTAs have come into effect with more than 60 partners, covering all continents, making Vietnam one of the leading countries in the region in participating in bilateral and multilateral economic cooperation frameworks.
Minister Nguyen Hong Dien hopes that Vietnam and Canada will be good bridges for each other in the ASEAN region, Asia-Pacific and the Americas as well as in the global supply chain.
Vietnam and Canada need to continue to maintain close coordination in existing cooperation mechanisms, support each other in multilateral organizations and forums such as the WTO, APEC, CPTPP, the Francophone Community, as well as prepare to take advantage of upcoming cooperation mechanisms of which both sides are members such as Canada-ASEAN… especially in the Vietnam-Canada Joint Economic Committee mechanism recently established by the two countries.
At the meeting, the two Ministers agreed that the Joint Economic Committee is a very effective high-level dialogue mechanism between the two governments, to promote trade and investment and new opportunities between the two countries.
Specifically, in the issue of energy transition, finding new cooperation directions and solutions to support and remove difficulties for businesses, creating favorable conditions for businesses of both sides to operate smoothly in each other’s markets.
The Committee plays an important role in promoting economic, trade, investment, agricultural, scientific and technological cooperation… At the same time, consolidating and strengthening the supply chain between the two countries, through jointly reviewing the cooperation situation, removing obstacles and identifying solutions as well as work contents that need to be prioritized for implementation in the next phase.
Minister Nguyen Hong Dien suggested that the two sides cooperate to promote the fields of the Canadian business delegation this time, as well as other potential fields such as digital economy, green economy, high technology, and platform industry. In particular, energy is a field with great room for cooperation, together promoting the implementation of the two countries’ energy transition commitments at COP 26.
Source: https://vneconomy.vn/
