Canada’s economy as well as investment and business opportunities in the market were introduced to enterprises in Vietnam’s central city of Da Nang at a workshop on August 6.

At the workshop (Photo: VNA)

The event, jointly held by the Canadian Embassy in Vietnam and the municipal Department of Industry and Trade, took place within the International East-West Economic Corridor (EWEC) Trade and Tourism Fair. 

Dinh Cong Thanh, Trade Commissioner at the Canadian Embassy, said Canadian goods are well-known worldwide for quality and observance of international standards. 

Besides, under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to which both Vietnam and Canada are signatories, the sharp tax reduction will help to increase price competitiveness of Canadian goods in Vietnam. 

Agricultural, forestry, fishery, industrial and consumer goods will enjoy tax cuts from 5 to 40 percent, he added. 

Apart from promoting market approach, the agreement has also created a legal framework for investment and services between Vietnam and Canada, Thanh said. 

Nguyen Thi Thuy Mai, Deputy Director of the municipal Department of Industry and Trade, said the workshop gives local businesses an insight into Canada high-quality products and suppliers.  

Vietnam has become Canada’s largest trade partner in Southeast Asia since 2015. Last year, two-way trade reached 6.4 billion CAD (4.84 billion USD), up 0.3 billion CAD as compared to the previous year.

As a new-generation free trade agreement, the CPTPP is expected to open up new opportunities for enterprises of Vietnam and Canada. 

The August 2-7 EWEC Trade and Tourism Fair features nearly 500 booths from more than 350 businesses in 18 cities and provinces, along with 11 foreign organisations and enterprises.  

On display are electrical and electronic devices, timber products, furniture, handicrafts, jewelry, tourism products, consumer goods, garments-textiles, footwear, pharmaceutical products and cosmetics.