The Governor General of Canada, David Johnston, is scheduled to visit Vietnam from November 16-19 at the invitation of State President Truong Tan Sang.

 

This is the first visit to Vietnam by a Canadian Governor General since the two countries established diplomatic ties in 1973.

 

During the visit, both sides will compare notes on the current situation in their respective countries and discuss ways to promote bilateral relations in various fields, particularly politics, economics, trade, investment, education, labour and culture.

 

Political relations between Vietnam and Canada are growing substantially and they have cooperated effectively at international politico-economic forums including the UN, ASEAN, WTO, Francophone, ARF, APEC and G20.

 

Senior delegations from both countries have exchanged visits and the two sides organized a series of events in 2008 to celebrate the 35th anniversary of their diplomatic ties (1973-2008).

 

The relationship between the legislative bodies in both countries has also been consolidated in recent years.

 

Over the past decade, two-way trade turnover between Vietnam and Canada has increased from US$121 million in 1998 to US$1.4 billion in 2010, with Vietnam maintaining an export surplus.

 

Vietnam currently ranks 67th among more than 100 countries that trade with Canada. Two-way trade in the first nine months of this year reached more than US$960 million, up 18 percent over the same period last year.

 

Vietnam exports mainly garments and textiles, footwear, agro-fishery products and wood products, bags, wallets, suitcases, electronic components, cashew nuts, fine arts and handicrafts, bicycles and ceramics to Canada, while importing machinery, equipment, iron and steel, fertilizer, animal feed, and raw materials for its garment, textile and footwear industry.

 

In 2006, Canada was 23rd among the countries and territories investing in Vietnam with 37 projects worth a total of more than US$228.5 million in 2006, and in 2008 Canada ranked ninth with 72 projects capitalized at US$4.74 billion.

 

As of August 2011, Canada is the 13th largest investor in Vietnam with 110 projects valued at a total of US$4.63 billion. Major Canadian companies such as Manulife, VinaCapital and Bombardier have found their way to Vietnam and are keen to intensify investments in the country.

 

Since 1992, Vietnam and Canada have signed 32 International treaties, aiming to boost bilateral cooperation in economics, trade, double taxation avoidance, aviation, administrative reform, education and child adoption. They also signed a bilateral agreement for Vietnam’s entry to the WTO.

 

Both sides have so far conducted eight rounds of negotiations on the agreement to encourage and protect foreign investment, which is expected to be completed in the first half of next year.

 

Canada has praised Vietnam’s strategies for growth and poverty reduction and still maintains its ODA for Vietnam, focused on boosting sustainable economic development, including State management; supporting legal and administrative reform and the development of small and medium-sized enterprises, as well as vocational training; ensuring food security, and increasing agricultural productivity.

 

They have also agreed to prioritize bilateral cooperation in coping with climate change in the near future. In addition, the two sides are stepping up cooperation in education, training, labour, science, technology and tourism. Vietnam first penetrated the Canadian labour market in 2008 by sending 28 agricultural guest workers to the province of British Colombia.

 

Approximately 250,000 overseas Vietnamese are living in Canada, mostly in the major cities and developed economic areas. More and more Vietnamese nationals are returning to Vietnam to run businesses, thus making greater contributions to the homeland. The Vietnamese community’s status is quite high in Canada and many Vietnamese have become renowned scientists, professors and doctors involved in electronics, telecommunications, satellite technology, atomic energy, chemicals and the law.

 

Governor General David Johnston’s visit demonstrates Canada’s wish to further strengthen its ties of friendship and cooperation with Asian Pacific nations, including Vietnam, and discuss measures to boost bilateral cooperation in all fields.

 

VOV