Center for WTO & International Trade (WITC)

Handbook: Utilize CPTPP to import and export goods between Vietnam and Canada

26/03/2021    137

Date: 2021

By: Center for WTO and International Trade - VCCI and Embassy of Canada in Vietnam

As members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Vietnam and Canada are facing a special opportunity to strengthen bilateral trade and investment relations by taking advantage of this first new generation free trade agreement between two Parties. With its position as the 10th largest economy in terms of GDP, 12th in export and 13th in import of the world in 2019, Canada has been and is becoming a very potential trading partner of Vietnam in the American market.

From a commodity trade perspective, Vietnam has great potential in many agricultural, forestry and fishery products and light industrial products. Meanwhile, Canada is a developed industrial country rich in resources, has the strength to produce and export many fuels and heavy industrial products. The relative complementarity in the product structure of Vietnam and Canada promises to create many opportunities and added value for bilateral trade.

In this situation, with commitments on tariff reduction, customs facilitation, and restriction of non-tariff barriers,… CPTPP is expected to be a highway to promote trade between Vietnam and Canada in the future. In order to support enterprises: (i) to specifically understand the commitments in goods of Vietnam and Canada in the CPTPP, thereby identifying specific opportunities from this Agreement; and (ii) obtain core information on the situation and characteristics of the two parties' markets, basic regulations on import and export procedures of Canada and Vietnam, thereby performing economic strategies. Vietnam Chamber of Commerce and Industry (VCCI) in coordination with the Embassy of Canada in Vietnam compiled and published "Handbook: Utilize CPTPP to import and export goods between Vietnam and Canada”.

It is hoped that this Handbook will become a useful reference for Vietnamese and Canadian businesses in commercial transactions between these two potential markets

The Handbook (Vietnamese) is attached below: