“Vietnam and Canada are currently experiencing a period of active and sustainable development,” vice-chairman of the Ho Chi Minh City People's Committee Vo Van Hoan spoke at a reception to celebrate the 50th anniversary of the establishment of diplomatic relations between Vietnam and Canada.

In his remarks at the event in Ho Chi Minh City on Monday night, Hoan reviewed important political, diplomatic, and trade milestones in the Vietnam-Canada relationship during the past years. 

Since 2015, Vietnam has risen to become Canada’s largest trading partner among ASEAN countries. 

Within ten years, bilateral trade value quadrupled to more than US$7 billion in 2022 from nearly $2 billion.

By the end of 2022, Canada had ranked 14th out of 130 countries and territories investing in Vietnam with a total registered capital of more than $4.8 billion.

From a municipal perspective, Canada is currently the 22nd-largest investor out of 117 countries and territories investing in Ho Chi Minh City, with a total investment capital of nearly $130 million. 

In 2022, bilateral trade between Ho Chi Minh City and Canada reached approximately $633 million.

For Vietnam and Canada, 50 years remains just the beginning of a long journey with many achievements ahead, Hoan remarked.

“Many leading Canadian enterprises have done successful business in Vietnam,” he stated. 

“Many delicious dishes in restaurants in Ho Chi Minh City are made of seafood imported from Canada. 

“Many handmade products and furniture in Canadian homes are made by Vietnamese and Ho Chi Minh City’s craftspeople.”

Hoan continued to state that Ho Chi Minh City's developing economy with open and pioneering policies, population of more than 12 million people, and low-cost but highly skilled labor force can become a regional gateway through which Canadian businesses can enhance investments, exploit the market, or expand business to other countries in the region.

On the other hand, Canada can provide cutting-edge technology, expertise, and products to support the city's growth in various areas, especially in infrastructure development, green economy, and clean energy.

Speaking at the event, Consul General of Canada in Ho Chi Minh City Behzad Babakhani affirmed that Vietnam is currently Canada's largest trading partner in ASEAN.

Meanwhile, Canada is in the top ten export markets for Vietnam, Babakhani added.

Monday's reception also witnessed a ceremony where the Canadian Chamber of Commerce Vietnam (CanCham Vietnam) signed an MOU with the Department for Local Diplomacy Facilitation under the Vietnamese Ministry of Foreign Affairs.

The MOU was signed in the hope of strengthening the relationship between the provinces of Vietnam and Canada, as well as supporting companies of the two countries to seize investment and cooperation opportunities.

According to CanCham Vietnam executive director Zach Herbers, currently the main areas of trade between both sides are agriculture, seafood, raw materials from Canada, and finished products from Vietnam to Canada, among others,

But in the near future, there will be many fields to be expanded such as green technology, renewable energy, and more, Herbers said.

“There will be a lot of discussion, I'm hoping the good things will come,” he told Tuoi Tre News at the event. 

Vietnam and Canada established diplomatic relations on August 21, 1973, according to the Embassy of Vietnam in Canada.

Vietnam opened its embassy in Ottawa in September 1976, which operated until March 1981.

The Southeast Asian country re-opened its embassy in Ottawa in November 1990 and inaugurated a consulate general in Vancouver in March 2013.

Canada opened its embassy in Hanoi in 1994 and a consulate general in Ho Chi Minh City in 1997.

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