2023 marks the 50th anniversary of the establishment of diplomatic relations between Vietnam and Canada (1973-2023). In recent times, bilateral trade relations between the two countries have grown strongly and achieved many remarkable achievements. Canada is currently Vietnam's second largest trading partner in the Americas and Vietnam is Canada's largest trading partner in ASEAN. The two countries have oriented a number of key areas of cooperation in the coming time, including economics - trade - investment, security - defense, development support, climate change response, marine environmental protection, clean and renewable energy, digital economy, innovation, green and sustainable growth, and training of high-quality human resources.
The two countries have oriented a number of key areas of cooperation in the coming time, including economics - trade - investment, security - defense, development support, climate change response, marine environment protection, clean and renewable energy, digital economy, innovation, green and sustainable growth, and training of high-quality human resources.
Vietnam, especially Ho Chi Minh City, is an attractive destination for Canadian investors with many advantages in terms of political stability, geographical location, environmental conditions and human resources. Through Vietnam, Canadian businesses can access the markets of 14 other members of the Regional Comprehensive Economic Partnership (RCEP) - a huge market with about 30% of the world's population, accounting for 30% of global GDP. Ho Chi Minh City is committed to always accompanying and creating the best conditions for foreign businesses to invest in the City, including Canadian investors.
Vice Chairman of Ho Chi Minh City People's Committee Vo Van Hoan (right) talks with Mr. Steve Craig, Minister of Aquaculture and Fisheries of Nova Scotia province (Canada), at the meeting. Photo: Xuan Anh - VNA
At the meeting with Mr. Steve Craig, Minister of Aquaculture and Fisheries of Nova Scotia province, who recently visited and worked in the City in February 2023, Mr. Vo Van Hoan, Vice Chairman of the Ho Chi Minh City People's Committee, said that Ho Chi Minh City and Nova Scotia province (Canada) have the potential and advantages to promote development cooperation in many fields, including high-tech agriculture and seafood trade.
Mr. Steve Craig, Minister of Aquaculture and Fisheries of Nova Scotia (Canada), presented the badge of Nova Scotia province to Mr. Vo Van Hoan, Vice Chairman of Ho Chi Minh City People's Committee, after the meeting. (Photo: Xuan Anh/VNA)
In Ho Chi Minh City, Canada is currently the 22nd largest investor out of 117 countries and territories investing in the City, with 119 projects and an investment capital of approximately 130 million USD. In terms of trade, in 2022, two-way trade between Ho Chi Minh City and Canada will reach approximately 633 million USD, an increase of about 30% compared to 2022.
Mr. Vo Van Hoan commented that the current economic relationship between Ho Chi Minh City and Canada is not commensurate with the level of the relationship between the two countries. In particular, Ho Chi Minh City has not yet implemented many cooperative activities with Nova Scotia province, including Halifax city. On the basis that Vietnam and Canada are two member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the connection from the working trip of the Nova Scotia delegation to Ho Chi Minh City will facilitate trade, investment and supply chain activities between the two countries as well as the two localities. In particular, agricultural products and food are important groups of goods that Vietnam and Ho Chi Minh City wish to promote trade with Canada.
Mr. Steve Craig said that the Nova Scotia delegation was particularly impressed with the dynamic development of Ho Chi Minh City and wished to promote cooperation in areas where both sides have potential and demand. Nova Scotia is a small province but plays an important role in the Canadian economy. Halifax, the capital of Nova Scotia, is Canada's second largest coastal city, with strengths in fisheries, agriculture, shipbuilding, and waterway transport.
According to Mr. Steve Craig, Canadian leaders at all levels have a special interest in cooperating with Vietnam; Canadian businesses are also actively seeking investment and business opportunities in Vietnam, especially in the field of seafood trade and culinary business development in Ho Chi Minh City. To promote specific cooperation activities, during this working trip, the Nova Scotia delegation will meet with the Vietnam Association of Seafood Exporters and Producers, the Ho Chi Minh City Trade and Investment Promotion Center to discuss issues of mutual interest.
Appreciating each other's development orientation and potential, at the meeting, the two sides agreed to propose joint research and implementation of cooperation activities in the fields of agriculture and food processing, seaport management, etc. Accordingly, the two sides will coordinate to organize trade - investment promotion events and cultural exchanges in both localities to enhance mutual understanding, introduce products, markets and connect businesses of both sides; organize training programs, share experiences in the field of storage and preservation of agricultural and aquatic products for export as well as study programs, exchange experiences in construction and management of seaports./.
Quynh Lien
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