We are pleased to invite you to attend the hybrid event titled “Bridging Borders: The Bright Prospects of Vietnam-Canada Supply Chain”.
This event which is in collaboration with The Vietnam Trade Office in Canada (Vietnam Ministry of Industry and Trade) and Export Development Canada (EDC) intends to assess Vietnam’s performance in the global supply chain and provide an update on the country’s economy as of 2024. Speakers will also address the economic collaboration framework between Canada and Vietnam and the best course of action for maximizing its benefits in the context of the Indo-Pacific Strategy and the Team Canada Trade Mission to Vietnam.
With economic reforms, pro-business policies and integration into regional and global markets, Vietnam has opened up enormous business potential for Canadian companies. In 2023, Vietnam's GDP grew by 5.05%, with a trade surplus of USD 28 billion and foreign direct investment (FDI) of USD 36.6 billion. Vietnam anticipates that, in spite of the global economic unrest, its GDP will expand by almost 6% in 2024. With 16 free trade agreements (FTAs), Vietnam is well integrated into the world economy (including big trading blocs such as ASEAN, EU, CPTPP and RCEP). With a middle class that is expanding and a population of 100 million, Vietnam's market is becoming more and more appealing to Canadian businesses, and it may be used as a gateway for Canadian’s business expansion to the ASEAN region. Thanks to an average economic growth rate of 7% over a 30-year period, Vietnam has continuously been the top ASEAN destination for Canadian commodities; conversely, Canada is Vietnam's second-largest trading partner in the Americas. It is anticipated that the value of two-way commerce between Vietnam and Canada will exceed $16 billion in 2023, more than tripling from 2018 (the year prior to the CPTPP).
Companies interested in the market and considering to joining the upcoming Trade missions to Vietnams will have a comprehensive understanding of doing business in Vietnam. It is also a rare opportunity to discuss trade and investment issues with experts from Vietnam and Canada. Canada companies will be updated with policies and geo-political contexts to better understand the IPS, the CPTPP agreement, existing supporting mechanisms (EDC, TCS, VTO…) and tap on it to grow up and go global. Speakers from the governments of Canada and Vietnam will discuss how free trade agreements (FTAs) could strengthen Canada's economic ties with the ASEAN region and how both nations are important to each other's supply chain strategies.
The event is supported by the Global Affairs Canada (TCS), Business Council of Canada and Trade Facilitation Service. Seminar will be held in person and followed by a networking coffee session from 14.30-17.00 (ET) on 15th February, 2024 at Ontario Trade and Investment Center with option to attend virtually.
Seats are limited and by confirmation only.
