Vietnam – Canada Relations
Vietnam and Canada established diplomatic relations in 1973.
Canada and Vietnam also enjoy regular exchanges of visits of government representatives and officials. In June 2010, Vietnam's Prime Minister Nguyen Tan Dung attended the G20 meeting in Toronto as Chair of the Association of Southeast Asian Nations (ASEAN). Minister of Foreign Affairs Lawrence Cannon travelled to Hanoi in July 2010 to attend the ASEAN Post Ministerial Conference and the ASEAN Regional Forum.
Canada and Vietnam share membership in multiple multilateral forums, including ASEAN, in which Canada is a Dialogue Partner and Vietnam was Canada’s Coordinating Country for 2006-09. Canada and Vietnam are also members of the Asia-Pacific Economic Cooperation (APEC), the World Trade Organization (WTO), the ASEAN Regional Forum, the Francophonie and the United Nations.
Canada and Vietnam are currently in bilateral negotiations toward a Foreign Investment Promotion and Protection Agreement (FIPA)
Overview of Vietnam – Canada trade relations:
- Total turnover: US$ 192 million (in 2001), 230 million (in 2002); 315 million (in 2003), 429.7 million (in 2004), 600 million (in 2005) and 761 million (in 2006)
- Vietnam’s key exports to Canada: footwear, textiles and garments, leather ware, seafood and agricultural produce and handicraft goods.
- Canada’s key exports to Vietnam: pharmaceutical products, post- telecommunication equipment, plastics, paper powder, fertilizers, machinery…
- Canadian FDI to Vietnam: 62 projects with the capital of US$ 489.5 million, ranking 21st among 78 foreign investors in Vietnam (as of July 2007).
- The Canadian ODA to Vietnam totaled US$ 18 million (in 2003), 24 million (in 2004), 26 million (in 2005), 33 million (in 2006) and 29 million in 2007.
Major Canadian companies doing business with/in Vietnam: Tiberon Minerals, Manulife, Telesat of Ottawa, GE Canada and GE system, International Enginering, Danon Foods Co.Ltd, Group Coaticook Veterinary Clinic/ADAX…
Economic and Trade Agreements between Vietnam and Canada:
- Agreement on Development Cooperation between the Government of the Socialist Republic of Vietnam and the Government of Canada (June 21, 1994).
- Agreement on Trade and Commerce between the Government of the Socialist Republic of Vietnam and the Government of Canada, signed (November 13, 1995).
- Agreement between the Government of the Socialist Republic of Vietnam and the Government of Canada for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, ( November 14, 1997).