Vietnam seeks to step up trade, investment ties with Canada’s Alberta province

Vietnamese Consul General in Vancouver Nguyen Quang Trung has held working sessions with representatives of Alberta province as part of efforts to promote trade and investment collaboration between Vietnam and the Canadian locality.

Participants at a seminar on trade and investment promotion in Alberta province (Photo: VNA)

Vietnamese Consul General in Vancouver Nguyen Quang Trung has held working sessions with representatives of Alberta province as part of efforts to promote trade and investment collaboration  between Vietnam and the Canadian locality.

During working sessions with Lieutenant Governor of Alberta Salma Lakhani and Deputy Premier and Minister of Public Safety and Emergency Services of Alberta Mike Elli, Trung thanked and appreciated the provincial government's facilitation to the Vietnamese Canadian community to integrate and contribute to Canadian society, while still maintaining close relations with their homeland.

Alberta’s leaders highly valued the friendly relationship between the locality and Vietnam, and pledged to continue strengthening economic, trade and investment relations between the two sides.

Alberta exports many products such as petroleum, machinery and especially agricultural products to, while importing garments, electronics and footwear from Vietnam.

Statistics from the Canadian province shows that during the five years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Alberta averagely exports more than 140 million CAD (103 million USD) worth of goods to and spends nearly 345 million CAD (254 million USD) on imports from Vietnam per year.

At seminars to promote  trade and investment cooperation with local businesses, Trung briefed them on the investment environment, and business opportunities in Vietnam in the context that both countries are members of the CPTPP.

Free trade agreements like CPTPP are opening up many opportunities for businesses in both nations, he said, adding that this is the "golden" time for small and medium enterprises of the two sides to reach out to the world. 

According to Alberta’s investment promotion agency, with the effective exploitation of CPTPP, Vietnamese and Canadian businesses will get insights into each other's product structure, thus further intensifying trade and investment ties.

Vietnam is considered an important trading partner of Canada and Alberta in particular. Vietnam has been Canada's largest partner in ASEAN since 2015.

The Alberta Intergovernmental Relations is coordinating with Vietnam to develop programmes to help local businesses adjust products and services to suit the Vietnamese market. This agency has offices in more than 160 cities, including Hanoi and Ho Chi Minh City.

Previously, representatives of the Vietnamese Consulate General visited University of Alberta, where more than 200 Vietnamese students are studying. The Canadian university is planning to cooperate with Hanoi Medical University./.

VNA