Vietnam and Canada have elevated their bilateral relations to a strategic partnership, aiming to enhance cooperation across various sectors such as trade, energy, agriculture, defense, technology, and education. This development was announced by Vietnamese President To Lam during his state visit to Canada, highlighting shared interests in resilience, diversified partnerships, and adherence to a rules-based international order.
Canadian Prime Minister Mark Carney welcomed the upgraded partnership, underscoring the expansion of bilateral ties since the 2017 cooperation agreement that covered investment, defense, and academia. Canadian officials indicated that the new strategic partnership will prioritize energy, agriculture, defense cooperation, and fostering stronger people-to-people connections.
Vietnam stands as Canada’s largest trading partner in Southeast Asia, with merchandise trade between the two nations surpassing $20 billion in the previous year. Canada’s primary exports to Vietnam include food, metals, and fertilizers, while Vietnam exports electronics, clothing, furniture, and footwear to Canada.
Both countries are part of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which serves as a framework for expanding trade and economic collaboration across the Asia-Pacific region.
The strategic partnership comes at a time when both nations are seeking to diversify their trade and supply chains in response to global economic uncertainties. For Vietnam, this move aligns with its efforts to broaden international economic relationships beyond reliance on major markets.