VCCI and CanCham cooperate to foster Vietnam–Canada trade

During a working session on 22 July in Hanoi, Mr Nguyen Quang Vinh, VCCI Vice President, received Mr Laurence Newman, the newly appointed Executive Director of CanCham in Vietnam. The meeting focused on measures to enhance B2B connectivity and assist Canadian enterprises in expanding their operations in Vietnam.

Rising interest among Canadian enterprises

At the meeting, Mr Laurence noted that CanCham currently represents around 130 members and Canadian businesses show a rising interest in Vietnam.

Numerous firms in sectors such as trailer manufacturing and footwear are actively seeking opportunities to invest, establish production bases, and place orders in Vietnam, thereby leveraging the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Vietnam’s extensive network of free trade agreements (FTAs).

CanCham is also strengthening its presence in Northern Vietnam. In Mr Laurence’s opinion, CanCham has established an executive committee in Hanoi, chaired by Mr Jack W., and plans its first official networking event in Hanoi this September. It requested VCCI’s collaboration in inviting Vietnamese businesses to the event, organising business matching activities, and introducing potential local partners.

VCCI Vice President Nguyen Quang Vinh reaffirmed VCCI’s commitment to long-term partnership with CanCham, the Embassy of Canada, and business delegations from both nations. Priority areas for cooperation include agriculture and food processing, energy, aviation, rules of origin, and the maximum utilisation of existing FTAs.

Both sides expressed confidence that the ongoing negotiations for the ASEAN–Canada Free Trade Agreement will create further scope for trade and investment between the business communities of Vietnam and Canada.

Canada is currently Vietnam’s second-largest trading partner in the America, after the United States. Conversely, Vietnam ranks as Canada’s largest trading partner within ASEAN, accounting for roughly 49% of Canada’s total imports from the region—nearly triple that of Thailand (16%).

According to the Department of Customs, Vietnam–Canada bilateral trade turnover reached USD 8.6 billion in 2025, an 18.8% increase compared to 2024. Of this, Vietnam’s exports accounted for USD 7.5 billion (up 18.2%), whilst imports from Canada reached USD 1.07 billion (up 23.7%). This marks the first time two-way trade has surpassed USD 8.5 billion and imports from Canada have broken the USD 1 billion mark. Total bilateral trade volume has doubled over the past four years.

This upward momentum has sustained into 2026. In the first two months of the year, two-way trade reached USD 1.33 billion, up 20.5% year-on-year. Vietnam’s exports stood at USD 1.2 billion (up 23.1%), with machinery and equipment exports soaring by 156.8%.

On the investment front, Canada currently has nearly 300 active projects in Vietnam, with total registered capital of approximately USD 4.87 billion. Since 1990, Canada has provided over CAD 2 billion in grant aid to Vietnam. For the 2026–2030 period, Canada is expected to disburse around CAD 111 million in Official Development Assistance (ODA).

Towards upgrading bilateral relations

The working session took place a day after the initial telephone conversation between Prime Minister Le Minh Hung and Canadian Prime Minister Mark Carney on the evening of 21 July.

The two leaders agreed to work towards upgrading the Vietnam–Canada bilateral framework and tasked relevant agencies with joint preparations. The two nations established their Comprehensive Partnership nearly a decade ago.

The leaders also discussed cooperation in law enforcement and high-quality human resource training in cutting-edge fields, including artificial intelligence (AI), quantum technology, and semiconductors.

During the meeting, VCCI and CanCham explored the potential organisation of trade promotion events alongside upcoming high-level official visits. VCCI reiterated its intention to coordinate closely with CanCham and the Embassy of Canada to support business delegations, facilitate business matching, and propel concrete cooperative projects between the two countries.