HCM City Chairman receives Canadian Minister to enhance stronger bilateral trade
WVR/VNA - Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai suggested the city and Canada strive for bilateral trade of over 1 billion USD while receiving Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng on March 28, 2024.
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| From right: Chairman of the Ho Chi Minh City People’s Committee Phan Van Mai (3rd), Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng (4th), and other delegates at the reception in HCM City on March 28. (Source: VNA) |
The two sides have potential for multi-faceted cooperation, the official explained, expressing his hope for Canadian investment of more than 500 million USD in the southern largest economic hub in the time ahead.
Chairman Mai viewed Minister Mary Ng’s visit as an opportunity for the two sides to enhance cooperation in various fields, especially trade and investment.
Mentioning the Comprehensive Trans-Pacific Partnership Agreement (CPTPP), to which both Vietnam and Canada are signatories, he said since it was put in place, trade and investment ties between Canada and Vietnam, and HCM City in particular, have been growing, yet they have failed to match their potential and demand.
Therefore, Ho Chi Minh City encourages businesses of the two countries to exchange cooperation opportunities and open offices in a bid to double and even triple the two-way trade revenue.
Briefing his guest on Ho Chi Minh City’s advantages, Chairman Mai stressed that apart from trade, it expects to receive Canada’s cooperation and investment in education and high-quality personnel training to serve its international integration.
The official also suggested the two sides enhance the exchange of experience and technologies to spur sustainable development.
For her part, Minister Mary Ng said the visiting Canadian trade mission comprises more than 100 enterprises operating in different spheres, from agriculture to processing, space science, green growth, and climate change response, demonstrating their interest in investment in Vietnam.
Canada considers Vietnam an important partner and market in its Indo-Pacific strategy, she said, adding that many Canadian businesses have invested in electricity and energy, and opened their representative offices in Ho Chi Minh City.
Canada also wants to learn about Vietnamese firms that are seeking business opportunities in the North American country, she said.
The Minister affirmed that Canada will work to connect Canadian investment funds, organisations, schools and research institutes, and Ho Chi Minh City in the realm of human resources development, and the country stands ready to share its experience with the city in green transition.
(Source: WVR/VNA)
