Trade Office helps Vietnamese firms grasp opportunities in Canadian market
The Vietnam Trade Office in Canada is focusing on helping Vietnamese businesses make the most of CPTPP's principles of origin in the garment and textile sector through connection activities and provision of information about the Canadian market, according to Trade Counsellor Tran Thu Quynh at the Vietnamese Embassy in Canada.
Workers of Viet Vuong 3 company in Ben Tre province (Photo: VNA)
Ottawa (VNA) – The Vietnam Trade Office in Canada is focusing on helping Vietnamese businesses make the most of CPTPP's principles of origin in the garment and textile sector through connection activities and provision of information about the Canadian market, according to Trade Counsellor Tran Thu Quynh at the Vietnamese Embassy in Canada.
She said after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect in December 2018, Canada immediately eliminated 42 tariff lines on Vietnamese textile and garment products, and after five years of implementation, the export value of Vietnamese textile and garment products increased by 100% compared to that in 2018.
At the Apparel and Textile Sourcing Canada 2023, held inToronto in late August, Vietnam’s Viet Vuong company received attention fromthe organisers and the Canadian Textile Industry Association, thanks to itsefforts to shift to green production.
Viet Vuong booth at Apparel and Textile Sourcing Canada 2023 (Photo: VNA)
Nguyen Vinh Bao, Managing Director of Viet Vuong in the southernregion, said that that Canada is a new market with a long winter to which the company'sproducts are suitable. Notably, as companies and big brands in Canada are payinggreat attention to production in green factories, this is a trend that thecompany has grasped and is prepared to meet the standard requirements ofbrands, he said.
Executive Director of the Canadian Apparel Federation BobKirke said that Vietnam's garment industry has many opportunities because itsfactories have long invested in implementing environmental measures and usingenergy efficiently. Therefore, their products have high competitiveness.
The Canadian garment and textile market is worth 10 billion USD per year. In 2022, Vietnam surpassed Bangladesh to become the second largest exporter of apparel and textiles to Canada, after China, with a market share of more than 12%.
Data from the Canada Border Services Agency showed thatVietnam's garment and textile export value reached about 1.8 billion USD in2022, up 41.2% year-on-year./.
Vietnamese and Canadian businesses have expressed their interest in establishing large supermarket chains in Canada to further promote bilateral trade and maximise the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Vietnam Trade Office in Canada coordinated with the Canada-ASEAN Business Council and the institute of researching new challenges in economic globalisation (NEME) of Laval University to organise a seminar to evaluate investment potential in Vietnam and the Association of Southeast Asian Nations (ASEAN) region.
Vietnam is a central part of the 2.3-billion-CAD (1.7 billion USD) Indo-Pacific Strategy that Canada has been implementing, Canadian Associate Deputy Minister of Foreign Affairs Cindy Termorshuizen has said.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Workers of Viet Vuong 3 company in Ben Tre province (Photo: VNA) 
Viet Vuong booth at Apparel and Textile Sourcing Canada 2023 (Photo: VNA) Nguyen Vinh Bao, Managing Director of Viet Vuong in the southernregion, said that that Canada is a new market with a long winter to which the company'sproducts are suitable. Notably, as companies and big brands in Canada are payinggreat attention to production in green factories, this is a trend that thecompany has grasped and is prepared to meet the standard requirements ofbrands, he said. 
Viet Vuong booth at Apparel and Textile Sourcing Canada 2023 (Photo: VNA) 
