The Vietnam Trade Office in Canada said that by 2025, cooperation opportunities in the processed food sector between Vietnamese and Canadian enterprises will be increasingly open.
Potential for cooperation in energy and nuclear power
Statistics from the General Department of Customs show that in 2024, the export turnover of goods from Vietnam to Canada will reach more than 6.37 billion USD, an increase of 13.4% compared to 2023. This is an impressive growth rate since the Covid-19 pandemic.
Ms. Tran Thu Quynh - Trade Counselor, Vietnam Trade Office in Canada - said that with an export growth rate of 13.4% in 2024, Vietnam has become Canada's leading trade partner in the ASEAN region and the 6th largest trade partner of this country among the group of 40 countries in the Indo-Pacific region.
Among the items Vietnam exports to Canada, textiles and garments account for the largest export turnover with a value of 1.2 billion USD, up 10.4% over the same period last year and accounting for 19% of the export proportion. Along with textiles and garments, the export turnover of machinery, equipment, tools, spare parts, etc. also had a large export growth rate, accounting for a significant proportion in the structure of goods exported to this market.
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| In 2024, the export turnover of goods from Vietnam to Canada will reach more than 6.37 billion USD, an increase of 13.4% compared to 2023. Photo: Duong Huong |
Notably, Mr. Ta Hoang Linh - Director of the European - American Market Department (Ministry of Industry and Trade) - said that trade between Vietnam and Canada is having strong momentum from the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
After 6 years of implementing and implementing CPTPP, two-way trade between Vietnam and Canada has grown remarkably, with turnover nearly doubling from 3.8 billion USD in 2018 to 6.2 billion USD in 2023, affirming the important role of the agreement in promoting bilateral economic cooperation.
Through CPTPP, Vietnam is currently focusing on increasing added value in exports and overcoming technical barriers to better take advantage of the Agreement. Participating in the implementation of commitments of the CPTPP Agreement also helps Vietnam promote institutional reform, improve the legal system towards greater transparency, opening up great investment and business cooperation opportunities for enterprises of the two countries.
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| Energy and nuclear power are potential areas of cooperation between Vietnam and Canada. |
Notably, according to experts, energy and nuclear power are potential areas of cooperation between the two countries. Because, currently, Canada is an important energy exporter in the world. Petroleum and gas products account for 20% of Canada's export turnover, equivalent to about 120 billion USD/year.
Not only that, Canada is also the world's 4th largest producer of crude oil and the world's 5th largest producer of natural gas. Canada has the world's third largest oil reserves, accounting for 11% of the world's total reserves.
In terms of nuclear power, Canada is a country with a long history and reputation in nuclear reactor technology (CANDU). In addition to mastering the technology, Canada is the second largest producer of uranium in the world, accounting for 15% of the global supply.
“Canada’s energy strengths come from its efforts to build a visionary energy strategy and invest heavily in technology development. In addition, Canada is also capable of providing financial support and effective safety management experience in many different energy sectors, including nuclear power, wind power, biomass power…” - Ms. Tran Thu Quynh commented.
More "doors" for exporting processed foods
Along with energy, processed food is also one of the potential areas for domestic enterprises when doing business with Canada. In 2025, cooperation opportunities in this field will be increasingly open when for the first time, Vietnamese enterprises will have the opportunity to participate in a trade promotion delegation in the processed food sector on both the East Coast (Toronto) and the West Coast of Canada (Vancouver) from April 28 to May 4.
The Vietnam Trade Office in Canada believes that this is a rare opportunity for Vietnamese food processing enterprises to learn about the market as well as introduce quality, innovative and creative products to Canadian consumers; at the same time, meet and connect with partner enterprises in the host country.
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| Processed food is also one of the potential fields for domestic enterprises when cooperating with Canada. Photo: Hai Minh |
As part of the program, businesses will participate in North America’s largest food exhibition, SIAL Canada 2025, at the Enercare Centre (Toronto). This is the largest annual trade event in the food industry in the region, long considered a gateway to connecting with the North American and global markets. Previous editions of SIAL have brought together thousands of international businesses and brands from all over the world to showcase their products.
Participating in SIAL 2025, in addition to exhibition activities, businesses also have the opportunity to attend seminars and workshops within the framework of the Fair and meet customers at the Vietnam booth at the event.
As one of many successful agricultural export enterprises, Ms. Nguyen Thi Huong - Sales Director of Golden Cashew Company Limited - said that in order to export, before the Agreement was implemented, Golden Cashew focused on quality and focused on building product brands.
Along with that, through trade promotion activities and trade connections from ministries and branches, Golden Cashew has connected, participated, and thereby promoted its products to Canadian consumers and member countries in CPTPP.
“ To successfully penetrate and compete with major partners in the world market, Golden Cashew not only focuses on product quality but also must understand the market. These are all high-end markets with strict standards in terms of quality, food safety and hygiene...” - Ms. Nguyen Thi Huong informed and said that the Japanese and Canadian markets... favor organic cashew products, but the area for growing this product in the country is not large and the procedures for certifying organic cashew products are still limited, so in recent times, Golden Cashew has been making efforts to expand the organic growing area and complete the procedures to meet the standards of the export market.
According to Ms. Nguyen Thi Huong, participating in the trade promotion delegation in the field of processed food in Canada will be a great opportunity for domestic enterprises, especially small and medium enterprises, to promote their products and seek opportunities for trade cooperation.
According to Ms. Tran Thu Quynh, in addition to supporting businesses to participate in trade promotion and trade connection activities, in 2025, the Vietnam Trade Office in Canada will also coordinate with relevant partners to organize purchasing delegations including supermarkets, distribution systems, and Canadian buyers to Vietnam to find sources of supply and attend major international trade fairs in the country.
| The Commercial Counselor of the Vietnam Trade Office in Canada affirmed that throughout 2025, the Trade Office will continuously update programs, exhibitions, important events and implement activities to provide information, support Vietnamese enterprises to display, promote products and access the Canadian market to promote bilateral trade cooperation and expand the market for goods. |
Source: https://congthuong.vn/doanh-nghiep-thuc-pham-che-bien-rong-duong-xuat-khau-sang-canada-374425.html
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