Việt Nam, TFO Canada move towards strategic trade partnership

Việt Nam, TFO Canada move towards strategic trade partnership

After more than a decade of cooperation in trade promotion and business support, relations between the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and the Trade Facilitation Office Canada (TFO Canada) are entering a new phase, shifting from technical assistance towards a strategic trade partnership.

Representatives of Vietrade and TFO Canada discuss a new cooperation project for 2026–2030.— VNA/VNS Photo Hà Linh

The new step was marked by the signing of an agreement to implement the TRISEG project for the 2026–2030 period during the third meeting of the Việt Nam–Canada Joint Economic Committee (JEC 3) in Ottawa. The project will focus on helping small and medium-sized enterprises (SMEs), women-led businesses and rural enterprises enhance their competitiveness and meet the increasingly stringent requirements of the Canadian and North American markets.

Director General of Vietrade Vũ Bá Phú said the success of cooperation during 2021–2024 had laid a solid foundation for elevating bilateral ties in the new phase, with Vietrade now serving as TFO Canada’s strategic partner in Việt Nam.

​According to Phú, the new project reflects a shift in both sides’ approaches in response to changes in the global trading environment. Rather than supporting individual enterprises, the project aims to build the capacity of groups of businesses capable of spearheading efforts to expand export markets.

Canadian assessments also underscore Việt Nam’s growing importance in Canada’s economic cooperation strategy. TFO Canada Executive Director Steven Tipman told Vietnam News Agency correspondent in Ottawa that the decision to expand cooperation with Vietnam was driven not only by the success of previous projects but also by the country’s increasingly important role in regional supply chains and trade networks.

The initiative continues TFO Canada’s efforts to help Vietnamese SMEs access the Canadian market. Tipman noted that Việt Nam holds a unique advantage, with SMEs accounting for around 98% of all businesses, while Canada is pursuing a strategy of diversifying trade partnerships and import sources.

Both sides view the new project within the broader context of bilateral economic relations. Phu said expanding Việt Nam’s presence in Canada and North America is important for diversifying export markets, reducing dependence on a limited number of major destinations, and creating more sustainable export channels.

Tipman said the cooperation aligns closely with Canada’s Indo-Pacific Strategy and its objective of strengthening trade ties with reliable partners. He described Việt Nam as an important partner in Canada’s Indo-Pacific engagement and said cooperation between TFO Canada and Vietrade would further reinforce trade links by helping Vietnamese businesses enter the Canadian market.

The shared assessment by Vietrade and TFO Canada indicates that their relationship is evolving from a traditional development-assistance model to one of joint development and long-term partnership. While previous cooperation focused primarily on strengthening the capacity of Vietnamese enterprises, the new phase aims to foster lasting commercial connections and contribute to stronger Việt Nam–Canada economic ties as both countries seek new growth drivers in the Indo-Pacific region.

​The signing of the TRISEG project agreement is expected to create new opportunities for businesses in both countries while reflecting the maturity of Việt Nam–Canada cooperation, from development support to a strategic trade partnership in a new stage of growth. 

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