Politics

Canada – Vietnam: Warm relationship between the two nations

Vietnam has been Canada’s largest trading partner in the ASEAN region since 2015. The average growth rate of Vietnam- Canada trade is at 20-25% per year.

Vietnam and Canada established diplomatic relations on August 21, 1973. A Canada-Vietnam Comprehensive Partnership was formally announced by both countries in November 2017.

Vietnam has been Canada’s largest trading partner in the ASEAN region since 2015. The average growth rate of Vietnam- Canada trade is at 20-25% per year.

In 2018, two-way merchandise trade between Canada and Vietnam reached $3.85 billion. Vietnam mainly exports electronics and equipment, wood, textiles to Canada and also imports wheat, fertilizer, machinery, spare parts from this country.

As of June 2019, Canada had 184 investment projects in Vietnam with a total registered capital of $5,16 billion, including tourist investment projects in Ba Ria - Vung Tau, the international hospital in Hai Duong, the wind power plant in Ninh Thuan.

For more than 20 years, Canada has been one of the largest provider of Official Development Assistance (ODA) in Vietnam, with the signing of more than CAD 800 million since 1990.

With a long history of friendship and cooperation between the two countries, the bilateral relations will gain remarkable achievements in the near future./.

VNA
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