Vietnam viewed as Canada's priority destination in Indo-Pacific Strategy
VOV.VN - Canada's commitment to fostering a stronger Indo-Pacific relationship has taken significant strides following the opening of its Indo-Pacific Agriculture and Agri-Food Office (IPAAO) in the Philippines, whilst it is also set to open an innovation office in Vietnam.
Nathan Andrew Nelson, chief representative and Vietnam innovation director for the Indo-Pacific region of the EDC, said the EDC aims to boost trade links between the two countries.
He touched upon the investment being made of about US$2 billion and said he views this a trade opportunity for Canadian companies to invest in a multitude of fields in the nation.
At present, the country is the biggest trading partner of Canada in ASEAN. Bilateral trade has grown steadily by over 50% since 2015 and hit some US$10 billion in 2023.
Furthermore, the nation is also an important partner of Canada under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as it offers numerous chances for Canadian products and services to access its market as well as others in ASEAN, Nelson said.
He noted that the Vietnamese side is one of the priority countries in the Indo-Pacific region from Canada’s perspective, adding that it will become a bright star in the next five to 10 years.
Nelson expressed his excitement at the opportunities Canadian companies can have in the Vietnamese market, noting that he also looks forwards to Vietnamese firms who are keen to invest in Canada so that the two sides can gain opportunities for co-operation and mutual assistance.
A delegation of 150 leading businesses of Canada led by Minister of Export Promotion, International Trade and Economic Development Mary Ng is scheduled to visit the nation next month. The trip will serve to foster the two countries’ comprehensive partnership and further expand Canada’s presence in the ASEAN region.
The Minister had previously said that the coming trip will provide momentum for Canadian companies’ operations in such dynamic markets as Vietnam.
Tran Thu Quynh, trade counsellor at the Vietnamese Embassy in Canada, said this will be the first time Canada has sent such a large business delegation to Vietnam. Aside from seeking business partnership chances, they will also engage in roundtable dialogues with executives of local firms.
She expressed her confidence that the Canadian delegation views Vietnam as a business partner, an investment destination, and a gateway for the North American country to enter ASEAN.
