Afternoon 4/8, in the city. Da Nang , the Embassy of Canada in Hanoi in collaboration with the Center for Industrial Promotion and Trade Promotion of Da Nang organized the seminar "Expanding business opportunities with Canada within the framework of the Comprehensive and Progressive Agreement for trans-Pacific".

Promoting the import of Canadian products into Vietnam through incentives from the CPTPP Agreement

Mr. Nguyen Van Tru - Deputy Director of Ho Chi Minh City Department of Industry and Trade. Da Nang said that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership ( CPTPP ) since taking effect has had a positive impact on Vietnam's import and export in general, and Ho Chi Minh City. Da Nang in particular. The rate of using C/O CPTPP has a positive growth in 2022, of which, C/O CPTPP exports to Canada and Mexico account for the highest percentage.

Regarding cooperation between Da Nang and Canada, Canada is a potential market for enterprises in Ho Chi Minh City. Danang. Export turnover between Da Nang to Canada is about 25 million USD/year; imports on average 1 million USD/year. This result is not commensurate with the potential of cooperation between Da Nang and the provinces of Canada. Although Canada is a market where Da Nang enterprises have a high utilization rate of C/O, the proportion of import-export turnover with the Canadian market in the total import-export turnover of Da Nang is very low.

“In the context of general difficulties of the economy, the workshop will be a meaningful activity, creating favorable conditions for Da Nang businesses, enterprises participating in EWEC Fair - Da Nang 2023 to explore cooperation opportunities. doing business with Canada, looking for partners through the connection and support of the Canadian Trade Office in Vietnam", Deputy Director of the Ho Chi Minh City Department of Industry and Trade. Da Nang said.

Information at the seminar, Mr. Dinh Cong Thanh - Trade Commissioner of Canada, Embassy of Canada in Hanoi said that the two-way trade turnover between Vietnam and Canada in 2022 is estimated at 13.8 billion CAD (13). 0.8 billion Canadian dollars). In which, Vietnam's exports to Canada alone reached more than 12.8 billion CAD, imports from Canada to Vietnam reached nearly 1 billion CAD. The potential for imports from Canada to Vietnam is still very large. In particular, Canada has mutual strengths in Vietnam such as in the field of ICT (information technology), aerospace, clean energy linkages, infrastructure, wastewater treatment, smart city... (including technology transfer and solutions).

Booth introducing Canadian products at the International Trade, Tourism and Investment Fair East-West Economic Corridor - Da Nang 2023

Notably, according to Ms. Nguyen Thao Trang - Trade Commissioner of Canada, Embassy of Canada in Hanoi, Canada is the 5th country in the world in terms of agricultural exports while agricultural products are the beneficiary. The most preferential and clearest incentives when the CPTPP comes into effect when the tariffs on many items are zero. This is an opportunity for importers and retailers in Vietnam when importing agricultural products from Canada. Typically, the import tax on products such as frozen beef, frozen pork, fish and seafood, wheat, beans/beans, fruits, maple syrup, potatoes are all from 10 to 30 percent to 0%. when the CPTPP comes into effect (for frozen pork, the tax will be zero by 2025).

At the program, the Canadian Trade Representative also informed Vietnamese distributors and importers of notes when importing and looking for export partners in Canada, such as finding out the capacity of exporters in Canada. , find out clearly about whether imported goods are eligible for preferential tariffs, the level of incentives as well as the conditions for benefits….