Vietnam And Canadian International Relations Essay

Vietnam and Canada has established diplomatic relations with each other since 1973, and they have been maintaining a good bilateral relations. Moreover, the relations between two countries are expanding, particularly though rapidly – increasing trade and investment and a prominent development assistance presence (Canadian International Development Agency). Vietnam is one of Canada’s 25 countries of focus which responds to the Government of Vietnam’s poverty reduction priorities and focuses on improving the enabling environment for investment and on supporting rural enterprise development and agricultural productivity.

Bilateral merchandise trade between Canada and Vietnam has increased steadily over the past decade, and is now more than four times greater than it

and Japan as a significant victory and opportunity that goes beyond traditional trade agreements.

As country member of TPP, when the agreement will be officially reached the final sign in late 2015 or early 2016, will create more opportunities and incentives for both Canadian and Vietnamese enterprises , especially small and medium-sized enterprises (SMEs), to access to dynamic and growing Vietnam market (for Canadian enterprise) and potential and high-standard Canada market (for Vietnamese enterprise). Besides, there is also the challenges of competition in their own country when goods are flooding into.

For Canada, tariffs and other barriers faced by a wide range of Canadian product from various sectors will be cut; these sectors include agriculture and agri-food (Vietnam currently impose substantial tariffs on agriculture and agri-food products), fish and seafood, forestry and value-added wood products, metals and mining, and manufactured industrial goods. Those are the main export commodities of Canada into