The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect in early 2019, has enabled several types of Vietnamese goods to rush into Canada.
Hanoi (VNA) – The Comprehensiveand Progressive Agreement for Trans-Pacific Partnership (CPTPP), which tookeffect in early 2019, has enabled several types of Vietnamese goods to rush intoCanada.
CPTPP is a new-generationfree trade agreement (FTA) comprising 11 member states, including Vietnam andCanada. It is also the first FTA to help Vietnam navigate the American continent.
Despite the COVID-19 pandemic in2021, Vietnam’s exports to Canada surged by 20.8% annually to 5.3 billion USD,up 75% prior to CPTPP validity. Last year, the figure surpassed 6.3 billionUSD, up 19.8% year-on-year.
According to the General Departmentof Vietnam Customs, apparel was Vietnam’s biggest currency earner from Canadalast year with a total turnover of 1.3 billion USD, up 40.3% annually andequivalent to 20.7% of Vietnam’s total exports to the country.
It was the result of 0% tariff on all Vietnamese apparel committed by Canada after three yearsof CPTPP implementation, said head of the Ministry of Industry and Trade’sDepartment of European-American Markets Bui Tuan Hoan.
Footwear came second with a recordrevenue of 604.6 million USD, up 64.3%; and computers, electronic products andspare parts 521.3 million USD, up 27.7%.
Several types of goodsrecorded high export revenues such as handbag-suitcase-headwear up 115.2%,plastics up 224.5% and fisheries 39.3%.
Vietnamese CommercialCounsellor in Canada Tran Thu Quynh said as Vietnam’s ninth biggest currencyearner, aquatic products hold the potential of high growth in the coming yearsthanks to CPTPP.
According to the CPTPP’scommitments, Canada eliminated import duties for 95% of tariff lines and 78% ofVietnam’s exports to the country. All Vietnamese aquatic and wooden productshave had their import tariffs removed since 2019.
꧅ Taxes on specificgoods will continue falling in line with the roadmap, making it easier forfirms that meet origin requirements to enjoy incentives./.
The Vietnam Chamber of Commerce and Industry (VCCI)'s Branch in Ho Chi Minh City and Intrinsic Innovations Vietnam – a non-profit incubator based in Alberta, Canada – co-organised a workshop on Vietnam-Canada investment opportunities in the southern economic hub on December 2.
Vice Chairwoman of the Ho Chi Minh City People’s Committee Phan Thi Thang received Jeremy Harrison, Minister of Trade and Export Development at the Government of Saskatchewan province in Canada’s Prairie region, on December 15 to discuss cooperation promotion.
The Vietnamese Embassy in the Republic of Korea (RoK) held a “Xuan Que Huong” (Homeland Spring) programme in Seoul on January 8 to bring a warm Tet atmosphere to the Vietnamese community living in the East Asian nation.
The Canada-Vietnam Friendship Society (CVFS) on January 28 organised a virtual seminar on the nations’ 50 years of diplomatic and cooperative ties (1973-2023), attracting participation of Canadian scholars, international friends, and Vietnamese expatriates.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
Illustrative image (Photo: Internet) 
