At the second meeting of the Việt Nam – Canada Joint Economic Committee. VNA/VNS Photo

HÀ NỘI — The Việt Nam – Canada Economic Joint Committee opened its second meeting in Hà Nội on Wednesday, looking to enhance trade and investment collaboration.

In his opening remarks, Minister of Industry and Trade Nguyễn Hồng Diên affirmed that the two countries have witnessed quantum leap in the relations, elaborating trade and investment exchange has enjoyed positive growth after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), to which Việt Nam and Canada are members, took effect.

He held that there is huge room for the two countries to boost co-operation, given the complementary nature of the two economies together with the collaboration frameworks that they have established.

Against the backdrop, the joint committee has an important role to play in promoting bilateral cooperation in the areas of economy, trade, investment, agriculture and science-technology, among others, he stressed, adding it should work to consolidate and strengthen the bilateral supply chain through reviewing the cooperation, removing roadblocks and identifying solutions and priorities in the coming time.

Meanwhile, Canadian Minister of International Trade, Export Promotion, Small Business and Economic Development Mary Ng spoke highly of Việt Nam’s leading position in Canada’s Indo-Pacific Strategy (IPS) which was announced in November 2022.

She said that she is leading a commerce delegation with 250 members from nearly 200 enterprises to Việt Nam from March 26 to 29 to connect trade and investment opportunities and fortify the supply chain with Việt Nam so as to realise the IPS’s targets.

Co-chaired by Deputy Minister of Industry and Trade Phan Thị Thắng and Deputy Minister of International Trade Rob Steward, the meeting covered various issues, including trade, investment, agriculture, energy, finance, customs, science-technology, education and training, and energy transition.

Attending the event, the Business Council of Canada, the Canada-ASEAN Business Council and the Việt Nam Chamber of Commerce and Industry suggested the Government create favourable conditions for the two sides to develop their trade and investment ties in a stronger and more effective manner in the time ahead.

The joint economic committee, established in January 2022, held its first meeting in Vancouver in July after countries open their border after COVID-19. The meeting created a new dialogue between the two governments, helping deepen the Comprehensive Partnership, with economic cooperation being an important pillar. — VNS