2018 – part1 – 1 – 4

CPTPP opens ups opportunities for Vietnam-Canada trade: expert

The signing of the Comprehensive and Progressive Trans-Pacific Partnership agreement (CPTPP) in Chile on March 8 will open up vast opportunities for trade between Canada and Vietnam, according to the President and CEO of Asia-Pacific Foundation of Canada (APF) Stewart Beck.

President and CEO of APF of Canada Beck said, CPTPP is really important to Canada, as it gives the country unlimited access to the Japanese market and other potential markets such as Vietnam and Singapore, with which Canada is yet to sign a bilateral free trade agreement.

He said the deal will bring Canada certain advantages in the Vietnamese market, and through Vietnam, it will be able to enter the ASEAN.

According to Beck, Canadian people and businesses have come to realise that Vietnam is a market of strong potential thanks to publicity campaigns about the CPTPP. He expressed his belief that after two or three years of enactment, the CPTPP will help further bilateral cooperation in important fields for both countries.

Having visited Vietnam several times to push the implementation of the Women’s Initiative for Startups and Entrepreneurship (WISE) sponsored by the Canadian Consulate General in Vietnam and APF, the expert has formed opinions on fields with great potential for bilateral cooperation after the CPTPP officially takes effect.

He said Vietnam will be able to increase the export of seafood and other goods to Canada, while technology and services are also promising fields.

The Canadian side hopes that following the official signing of CPTPP, and considering the large Vietnamese community and increasing numbers of Vietnamese students in Canada, further opportunities for bilateral affiliation will open up, based on the cultural and education bridges, Beck said.