Canada imports 50% more Vietnamese garments, seafood
Vietnamese garment and seafood exports to Canada have surged 50% year-on-year, totaling values of $1.1 billion and $334 million, respectively.
As the two categories saw the most significant increases in exports to Canada of the last three years, other categories such as wood, chemicals, metal, cashew nuts, handbags, and machines also recorded growth of between 3% and 30%, according to statistics from the Vietnam Customs Office.
Total exports from Vietnam to Canada have risen 28.7% year-on-year to nearly $5.5 billion over the same period.
Canada is Vietnam’s second-largest export market in the Americas, behind the U.S.
And Vietnam is Canada biggest export market in ASEAN.
But Canada has been increasing its trade safeguards against Vietnam recently, and Vietnamese authorities have proposed that the country impose a fairer trade policy with Vietnamese goods in line with regulations of the World Trade Organization, said Vo Tan Thanh, deputy chairman of the Vietnam Chamber of Commerce and Industry (VCCI).
He said that Canada should be more open to importing competitively priced Vietnamese agricultural products such as vegetables and coffee.
At the 29th APEC Summit in Thailand, Vietnam President Nguyen Xuan Phuc and Canadian Prime Minister Justin Trudeau agreed to expand and deepen bilateral cooperation in all fields, especially trade and investment.