Vietnam enhances relations with Canada, Singapore within CPTPP framework

Minister of Industry and Trade Nguyen Hong Dien (centre) at a meeting with Singapore’s Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong (Photo: VNA)

At the meeting with Mary Ng, the two sides focused on strengthening diplomatic and trade relations, as well as the Vietnam-Canada Comprehensive Partnership.

Vietnam praised Canada’s efforts and its coordinating role in advancing CPTPP activities, which have made this framework increasingly dynamic and attractive to economies seeking membership.

Dien emphasised Vietnam's readiness to collaborate with Canada and other member nations to maximise benefits for people and businesses, elevate the CPTPP, and enhance its role in regional and global trade.

Regarding bilateral cooperation, the ministers reviewed the activities of the Vietnam-Canada Joint Economic Committee, with the Vietnamese side proposing close coordination with Canada to realise commitments on trade and investment facilitation, energy transition, and climate change adaptation.

Vietnamese exports to Canada have surged since the CPTPP took effect. Bilateral trade rose by 15% to nearly 6 billion USD in the first 10 months of this year. Vietnam is now Canada’s largest trading partner within the Association of Southeast Asian Nations (ASEAN), accounting for 43.6% of the North American country’s total imports from the region.

Dien also expressed concerns about the rising frequency of trade defence measures targeting Vietnamese goods in Canada. He urged Canada to strictly adhere to World Trade Organisation (WTO) regulations and international practices, ensuring fair conditions for Vietnam to provide information and documents as well as express its stance in such cases.

Talking to the Singaporean official, the Vietnamese minister acknowledged Singapore as a key partner in economic, trade, and investment collaboration.

He emphasised the need to deepen and broaden bilateral cooperation as a foundation for the two governments to consider upgrading bilateral relations to a Comprehensive Strategic Partnership.

The Vietnamese side proposed Singapore further facilitate the import of Vietnamese goods, especially processed agricultural products, seafood, and food items.

The two parties agreed to effectively implement a Memorandum of Understanding on economic and trade cooperation and explore measures to promote cross-border e-commerce. They also pledged close collaboration in implementing and expanding the CPTPP to enhance its effectiveness in the future./.