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VietNamNews

Canadian trade minister highlights potential

Update: August, 31/2012 - 09:43

HCM CITY — Canada's expertise and know-how offer Viet Nam great potential for collaboration in several fields, especially in the education and oil and gas sectors, according to a Canadian official who visited HCM City this week.

Ed Fast, Canadian Minister of International Trade cum Minister for the Asia-Pacific Gateway, said Viet Nam's political stability and fast economic growth were attractive to investors.

Many large Canadian companies like Manulife, Bombardier, Talisman and Scotiabank have a well-established presence in Viet Nam.

Bilateral trade has gone up by more than six times over the last 10 years, reaching nearly $1.7 billion last year.

"But when you look at the amount of trade, and especially investment, there is so much more that we can do," he said.

He said Canada wanted to enhance cooperation with Viet Nam in the educational sector and increase the number of Vietnamese students who choose Canada for their studies.

"Canadian schools are working closely with Vietnamese partners to deliver high-quality programmes and curricula," he said.

Canada is negotiating a Foreign Investment Promotion and Protection Agreement with Viet Nam.

When the negotiation is completed, it is expected to open great opportunities to enhance investment between the two countries.

Meanwhile, Canada is also joining Viet Nam and other regional partners at the Trans-Pacific Partnership Agreement negotiations, which would help increase trade between the two countries.

Viet Nam and Canada will mark the 40th anniversary of their diplomatic ties next year.

Besides Viet Nam, the Canadian ministerial delegation is also visiting Thailand, Cambodia and Myanmar to seek new business opportunities. — VNS

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