Canada’s economy as well as investment and business opportunities in the market were introduced to enterprises in Viet Nam’s central city of Da Nang at a workshop on 6 August.

At the workshop (Photo: VNA)

The event, jointly held by the Canadian Embassy in Viet Nam and the municipal Department of Industry and Trade, took place within the International East-West Economic Corridor (EWEC) Trade and Tourism Fair.

Mr Dinh Cong Thanh, Trade Commissioner at the Canadian Embassy, said Canadian goods are well-known worldwide for quality and observance of international standards.

Besides, under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to which both Viet Nam and Canada are signatories, the sharp tax reduction will help to increase price competitiveness of Canadian goods in Viet Nam.

Agricultural, forestry, fishery, industrial and consumer goods will enjoy tax cuts from 5 to 40 percent, he added.

Apart from promoting market approach, the agreement has also created a legal framework for investment and services between Viet Nam and Canada, Thanh said.

Mrs Nguyen Thi Thuy Mai, Deputy Director of the municipal Department of Industry and Trade, said the workshop gives local businesses an insight into Canada high-quality products and suppliers.

Viet Nam has become Canada’s largest trade partner in Southeast Asia since 2015. Last year, two-way trade reached 6.4 billion CAD (4.84 billion USD), up 0.3 billion CAD as compared to the previous year.

As a new-generation free trade agreement, the CPTPP is expected to open up new opportunities for enterprises of Viet Nam and Canada.

The August 2-7 EWEC Trade and Tourism Fair features nearly 500 booths from more than 350 businesses in 18 cities and provinces, along with 11 foreign organisations and enterprises.

On display are electrical and electronic devices, timber products, furniture, handicrafts, jewelry, tourism products, consumer goods, garments-textiles, footwear, pharmaceutical products and cosmetics.

(Source: VNA)