At the "Vietnam, the door to the Indo-Pacific for Quebec businesses" forum. Photo: VNA

Canadian enterprises, including those from Quebec, have expressed their keen interest in the Vietnamese market, given the thriving trade ties between the two countries since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into force five years ago, according to VietnamPlus.

Trade revenue between the two countries rose from USD 3.86 billion in 2018 to more than US$7 billion in 2022. During January – June this year, the figure reached $3.6 billion.

Director General of the Indo-Pacific Region under the Quebec Ministry of International Relations and Francophonie Gabriel Chartier said that the ministry rolled out its India-Pacific Strategy in 2021, which identified Vietnam and other Asian countries as important partners in expanding business activities.

The Quebec international investment agency was established, responsible for supporting local firms who want to develop their business in Vietnam, he added.

Workers of Viet Vuong 3 company in Ben Tre province. Photo: VNA

There are around 125 cooperation projects between Vietnam and Quebec. Two-way trade has exceeded USD1.5 billion, with the Canadian side selling electronics, agricultural products, and medical equipment to Vietnam, and buying footwear and clothes from the Southeast Asian country.

The two sides are planning to carry out new cooperation projects, helping diversify collaboration in all areas, from culture, and sustainable development to technology study.

Vice President of the Indo-Pacific at Export Development Canada (EDC) George Monize described Vietnam as an amazing market with high GDP growth and an expanding middle class.

According to Chairman of Groupe Engram Remy Franzoni, his customers have been interested in cooperation opportunities with Vietnam, which holds strengths in technology and electronics.

The sound Vietnam-Canada relations have contributed to concretizing Canada’s Indo-Pacific Strategy and its strategic partnership with ASEAN, he said, adding the Quebec authority and the Canadian Government as a whole have given priority to Vietnam, and consider the country a new intersection in the global value chain due to the cooperation potential in key areas.

Minister of Foreign Affairs Bui Thanh Son (R) and visiting Canadian Deputy Minister of Foreign Affairs David Morrison. Photo: VNA

At a meeting with Canadian Deputy Minister of Foreign Affairs David Morrison in Hanoi on December 14, Minister of Foreign Affairs Bui Thanh Son said Vietnam wishes to promote its comprehensive partnership with Canada effectively and substantively, VOV reported.

Minister Son proposed that the two sides step up high-level delegation exchanges, boost multi-faceted cooperation, and optimize existing dialogue mechanisms, such as political consultation, the Vietnam-Canada joint economic committee, and the defense policy dialogue, while expanding collaboration in health care, energy transition, and clean technology, along with cooperation between localities.

Morrison said Canada hopes to deepen its comprehensive partnership with Vietnam and gives priority to Asia-Pacific, where Vietnam is considered a leading partner and a bridge between Canada and the region.

He agreed with Son’s proposals and promised to support Vietnam in climate change, clean energy, peace-keeping operations, and agriculture./.

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