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Canada keen to boost co-operation
Canada's experience and technological capacities can be used to boost bilateral co-operation with Viet Nam in several fields like supply chain, agriculture, education, oil and gas and information and communication technologies.
Ed Fast, Canadian Minister of International Trade cum Minister for the Asia-Pacific Gateway, who paid an official visit to Viet Nam from August 26-28 to boost trade and investment ties, said many large Canadian companies like Manulife, Bombardier, Talisman and Scotiabank have had a well-established presence in Viet Nam.
Canada-based Manulife and Sun Life insurance providers, for instance, have significantly contributed to the development of the insurance industry in Viet Nam.
Talisman has also invested more than US$2.5 billion into the country's oil and gas sector.
In addition, Canada is also a global leader in the information and communication sector and in educational expertise. "Canada wants to encourage more Vietnamese students to study in Canada," he said.
"Beyond the increasing number of Vietnamese students who choose Canada for their studies, Canadian schools are working closely with Vietnamese partners to deliver high-quality programmes and curriculum," he said.
He said bilateral trade between the two countries has gone up by more than six times over the last 10 years.
Canada-Viet Nam bilateral trade reached an all-time high of nearly $1.7 billion last year.
"But when you look at total numbers for bilateral trade and especially investments, there is so much more that we can do," he said.
"My role here in Viet Nam is not only to meet with some of my Government counterparts but also to evaluate Viet Nam as a destination for Canadian investment."
Canada and Viet Nam will start the ninth round of negotiations for a Foreign Investment Promotion and Protection Agreement in Ha Noi yesterday.
"The agreement is expected to boost investment between the two countries as well as ensure the security that investors are looking for," he said.
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