In the first two quarters of 2024, Canada imported over $228 million worth of agricultural and food products from Vietnam, accounting for 5.5% of Vietnam's total export value to the country, an increase of 24%.
According to the Vietnam News Agency correspondent in Ottawa, on August 9, the Vietnam-Canada Business Association (VCBA), in collaboration with the Ho Chi Minh City Trade and Investment Promotion Center (ITPC), organized a workshop in both in-person and online formats to support Vietnamese businesses in accessing the North American and Canadian markets.
This is one of the projects that VCBA will focus on implementing in the near future after having finalized a new Executive Board, with many positive changes from personnel to operating methods and regulations.
Through this project, VCBA will help Vietnamese businesses looking to expand their operations to access and export goods to the Canadian market.
Additionally, Vietnamese businesses can also use Canada as a gateway to enter the North American market if they wish to expand their network and increase their competitiveness in the international market.
Chau Tu Cuong, Chairman of VCBA and owner of the 88 Supermarket chain in Vancouver, believes that the Canadian and North American markets have great potential for the development of Vietnamese products.
He believes that with abundant raw materials and a positive work ethic, high-quality traditional Vietnamese products will have the opportunity to expand beyond borders and reach international consumers and friends.
According to statistics, in the first two quarters of 2024, Canada imported over $228 million worth of agricultural and food products from Vietnam, accounting for 5.5% of Vietnam's total export value to the country, an increase of approximately 24% compared to the same period last year.
Vietnam's main exports to Canada are seafood and processed seafood products, with a value of nearly US$100 million. This result was achieved thanks to the Comprehensive and Progressive Trans- Pacific Partnership (CPTPP) agreement, which allows Vietnamese exporters more favorable market access opportunities than competitors from China or other ASEAN countries through tariffs.
Currently, products of Asian origin entering Canada mainly consist of dried goods, processed foods, non-alcoholic beverages, spices, and sauces.
Products in this retail sector are projected to continue achieving high consumption levels during the 2024-2030 period. Over the past years, Vietnamese-owned import-export businesses and supermarket chains in Canada, with their strong understanding of Vietnamese and Asian consumer preferences, have become crucial distribution channels, contributing significantly to bringing Vietnamese products into this market.
The project by VCBA and ITPC will lay the foundation for a collaborative relationship, in which, in the initial phase, the 88 Supermarket chain will be responsible for coordinating with Vietnamese retailers to bring their goods to sell in its supermarket chain. This will contribute to promoting business cooperation between the business communities of both sides.
The project's implementation also represents the realization of the cooperation between VCBA and ITPC since the end of last year, following VCBA's visit to explore the Vietnamese market.
VCBA Chairman Chau Tu Cuong assessed that with close cooperation between the two sides, Vietnamese products will soon gain a foothold in the Canadian and North American markets.
Mr. Chau Tu Cuong also believes that this project will create many more business cooperation opportunities between Canadian and Vietnamese businesses. VCBA is committed to always supporting the business communities of both countries and will especially strive to support and cooperate with ITPC for mutual development.
Vietnamplus.vn
Source: https://www.vietnamplus.vn/no-luc-giup-hang-hoa-viet-nam-khang-dinh-vi-tri-tai-canada-post969675.vnp
