(VOVWORLD) - Canada's commitment to fostering a stronger Indo-Pacific relationship has taken significant strides following the opening of its Indo-Pacific Agriculture and Agri-Food Office (IPAAO) in the Philippines, whilst it is also set to open an innovation office in Vietnam.
Nathan Andrew Nelson, chief representative and Vietnam innovation director for the Indo-Pacific region of the EDC, said the EDC aims to boost trade links between the two countries.
He touched upon the investment being made of about 2 billion USD and said he views this a trade opportunity for Canadian companies to invest in a multitude of fields in Vietnam.
At present, Vietnam is the biggest trading partner of Canada in ASEAN. Bilateral trade has grown steadily by over 50% since 2015 and hit some 10 billion USD in 2023.
Furthermore, the nation is also an important partner of Canada under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) as it offers numerous chances for Canadian products and services to access its market as well as others in ASEAN, Nelson said.
He noted that the Vietnamese side is one of the priority countries in the Indo-Pacific region from Canada’s perspective, adding that it will become a bright star in the next five to 10 years.
Nelson expressed his excitement at the opportunities Canadian companies can have in the Vietnamese market, noting that he also looks forwards to Vietnamese firms who are keen to invest in Canada so that the two sides can gain opportunities for co-operation and mutual assistance.