Trade Facilitation Office Canada (TFO Canada) and Viet Nam Trade Promotion Agency on June 1 signed an agreement to implement an export capability building project for Vietnamese women-led enterprises during the 2021-2024 period.

The cooperation agreement is signed by VIETRADE and TFO Canada via
a virtual conference held on June 1, 2021

The project is in line with the “Women in Trade for Inclusive and Sustainable Growth” carried out by the TFO Canada with financial support from Global Affairs Canada (GAC) in 24 developing countries, including Viet Nam.

Accordingly, the TFO Canada will coordinate with VIETRADE to assist Vietnamese trade promotion organisations and women-led SMEs in the fields of food processing and apparel accessories.

The ultimate goal would be for these enterprises to better take advantage of bilateral and multilateral trade agreements that Viet Nam is a part of.

In addition, Vietnamese firms are expected to be invited to fairs and expos in promising markets, or to join online stalls at international expos.

At the ceremony, Viet Nam Trade Counsellor in Canada Do Thu Huong said the Trade Office in Canada has been working with the TFO Canada in a number of projects supporting SMEs in Viet Nam in fields of craft products, agriculture, seafood, footwear, and textile.

“Canadian experts have given valuable advises to Vietnamese enterprises in product development and marketing strategy to further penetrate the Canadian market,” she added.

In Viet Nam, women-led enterprises currently account for 25 percent of total small and medium-sized enterprises (SMEs), contributing to generating a significant amount of jobs and stable incomes for workers.

The model of women-owned businesses is growing strong with an expansion rate of 30 percent in the past 10 years, totaling 360,000 enterprises of this type in Canada.

In addition, they are also benefiting from a Canadian government support program worth CAD2 billion (US$1.66 billion) to double the number of women-led enterprises by 2025.