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Vietnam eyes stronger trade ties with Canada through CPTPP

04 Dec '24
2 min read
Vietnam eyes stronger trade ties with Canada through CPTPP
Vietnam eyes stronger trade ties with Canada through CPTPP

Insights

  • Vietnam aims to strengthen trade ties with Canada under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
  • Canada, the fifth-largest market for Vietnamese apparel, saw exports drop *.*5 per cent to $*,***.*** million in the first ten months of 2024, representing *.*3 per cent of Vietnam's total apparel exports.

Vietnamese Minister of Industry and Trade Nguyen Hong Dien met with Canadian Minister of International Trade Mary Ng on the sidelines of the CPTPP Commission meeting in Vancouver during the last week of the previous month.

Vietnam’s exports to Canada declined by *.** per cent, falling from $*,***.*** million in the first ten months of **** to $*,***.*** million during the same period in ****. This accounted for *.** per cent of the country’s total apparel exports of $**.*** billion during the review period this year. The US, Japan, South Korea, and China were larger markets for Vietnamese apparel exports, with a combined share exceeding ** per cent, according to Fibre2Fashion&#**;s market insight tool TexPro.

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