Vietnam, Canada’s Alberta Province Seek Ways to Boost Trade, Investment Ties
Vietnamese Consul General in Vancouver Nguyen Quang Trung has held working sessions with representatives of Alberta province as part of efforts to promote trade and investment collaboration between Vietnam and the Canadian locality, VNA reported Saturday.
|Vietnamese Consul General in Vancouver Nguyen Quang Trung works at Canada’s Alberta province.
During working sessions with Lieutenant Governor of Alberta Salma Lakhani and Deputy Premier and Minister of Public Safety and Emergency Services of Alberta Mike Elli, Trung thanked and appreciated the provincial government's facilitation to the Vietnamese Canadian community to integrate and contribute to Canada's society, while still maintaining close relations with their homeland.
Alberta’s leaders highly valued the friendly relationship between the locality and Vietnam and pledged to continue strengthening economic, trade, and investment relations between the two sides.
Alberta exports many products such as petroleum, machinery, and especially agricultural products to, while importing garments, electronics and footwear from Vietnam.
Statistics from the Canadian province shows that during the five years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Alberta averagely exports more than CAD 140 million (USD 103 million) worth of goods to and spends nearly CAD 345 million (USD 254 million) on imports from Vietnam per year.
|Vietnamese Consul General in Vancouver Nguyen Quang Trung and Deputy Premier and Minister of Public Safety and Emergency Services of Alberta Mike Elli.
At seminars to promote trade and investment cooperation with local businesses, Trung briefed them on the investment environment, and business opportunities in Vietnam in the context that both countries are members of the CPTPP.
Free trade agreements like CPTPP are opening up many opportunities for businesses in both nations, he said, adding that this is the "golden" time for small and medium enterprises of the two sides to reach out to the world.
According to Alberta’s investment promotion agency, with the effective exploitation of CPTPP, Vietnamese and Canadian businesses will get insights into each other's product structure, thus further intensifying trade and investment ties.
Vietnam is considered an important trading partner of Canada and Alberta in particular. Vietnam has been Canada's largest partner in ASEAN since 2015.
|Vietnamese Consul General in Vancouver Nguyen Quang Trung and Nathan Cooper, Speaker of the Legislative Assembly of Alberta.
The Alberta Intergovernmental Relations is coordinating with Vietnam to develop programs to help local businesses adjust products and services to suit the Vietnamese market. This agency has offices in more than 160 cities, including Hanoi and Ho Chi Minh City.
Within the framework of the visit, in coordination with the Ministry of Jobs, Economy and Trade of Alberta and Edmonton Global, Consul General Nguyen Quang Trung chaired two trade and investment promotion roundtables between Vietnam and Alberta held in the cities of Edmonton and Calgary.
Previously, representatives of the Vietnamese Consulate General visited the University of Alberta, where more than 200 Vietnamese students are studying. The Canadian university is planning to cooperate with Hanoi Medical University.
The Consul General also met the Vietnamese community in Alberta, including businesses and students, to listen to comments and encourage people to actively integrate and contribute to Canada's socio-economic development and have many activities towards the homeland and country.
Alberta is Canada's 4th most populous province with more than 4.5 million people, the population is quite young with an average age of about 37. Albertans are proud to be among the most educated people in North America with 26 post-secondary education institutions.
Alberta focuses on developing science, technology, and innovation, and is a province with many scientific research agencies and organizations. In 2022, Alberta issued the Technology and Innovation Strategy (ATIS) to support the promotion of technology application and innovation in the province's key economic sectors such as green energy and technology, agriculture, health, artificial intelligence, among others.
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