VCCI Vice Chairman Nguyen Quang Vinh and Mr. Paul Troppil, Trade Representative of Canada for the Indo-Pacific Region

On June 24, in Hanoi, Mr. Nguyen Quang Vinh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), had a meeting with Mr. Paul Troppil, Trade Representative of Canada for the Indo-Pacific Region to discuss the direction of enhancing cooperation between the two sides in the coming time, especially in the fields of energy, nuclear technology and sustainable trade.

The Canadian Trade Representative highly appreciated the potential for cooperation between businesses of the two countries, especially in the energy sector as Vietnam is looking for clean, stable and long-term energy sources.

Notably, the liquefied natural gas (LNG) sector is a potential area of cooperation as Canadian businesses have advantages in technology. Mr. Paul Troppil affirmed that Canada wants Vietnam to become an important LNG partner of Canada in Asia, similar to the effective cooperative relationships that Canada has built with Japan, Korea, Malaysia and China.

Another notable content is the possibility of cooperation in the field of nuclear energy. The Canadian Trade Representative introduced CANDU technology, one of the technology platforms that has been successfully applied by Korea and China, thereby building internal capacity and developing the export industry.

The Canadian Trade Representative affirmed his commitment to supporting Vietnamese enterprises to access the Canadian market and technology, and proposed to promote the signing of a memorandum of understanding (MOU) between VCCI and the Canadian Business Council, as well as with the Canada-ASEAN Business Council to serve as a basis for specific cooperation activities.

Mr. Paul Troppil emphasized that Canada is ready to closely coordinate with VCCI in sharing updated information on trade policies, consumer trends, and priority areas of Canadian businesses, especially within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

VCCI Vice Chairman Nguyen Quang Vinh works with Mr. Paul Troppil, Trade Representative of Canada for the Indo-Pacific region

Listening to the exchanges from Mr. Paul Troppil, VCCI Vice Chairman Nguyen Quang Vinh highly appreciated the long-term cooperation orientation, and emphasized the importance of cooperation between the business communities of the two countries in important areas, as well as through technology transfer, creating conditions for Vietnamese enterprises to develop expertise and domestic supply chains.

The VCCI Vice Chairman affirmed that VCCI will maintain a regular exchange channel to update market information, support businesses of the two countries to learn about each other and promote trade promotion activities.

According to the VCCI Vice Chairman, in mid-July, VCCI will organize the APEC BAC III Meeting in Hai Phong. Including a side event of the Hai Phong Investment Promotion Conference - Strategic Destination of the New Era.

This is a large-scale business networking event with the participation of Vietnamese and international enterprises as well as domestic and foreign embassies and associations. Therefore, the Vice Chairman of VCCI has sent an invitation to the Canadian Trade Representative and Canadian enterprises to attend this conference to seek new partners as well as increase the grasp of investment opportunities in potential fields.

At the meeting, the two sides also agreed that diversifying partners is a key factor in the context of many fluctuations in the global trade environment. Recent adjustments in import tax policies from a number of major partners, including the US, have created more motivation for Vietnam to strengthen cooperation with reliable markets such as Canada.