Bilateral trade revenue between Vietnam and Canada reached a record high of US$8.9 billion in 2020after two years of implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The figure increased by 12% over 2019 and by 37% compared to 2018, when CPTPP began to take effect.
The number was announced at a conference entitled “Review two years after the CPTPP Implementation –Towards a post COVID-19 sustainable future” which was jointly held by the Canadian Embassy in Hanoi and the Vietnam Chamber of Commerce and Industry (VCCI) on March 23.
“The CPTPP has improved accessibility to trade and services between Canada and Vietnam, strengthened the set of common rules, reduced costs on trade, and made investment activities more predictable. This helps to improve competitive advantage of products in two markets, Canada and Vietnam,” said Canadian Ambassador to Vietnam Deborah Paul.