Ho Chi Minh City, August 11, 2024, The Europe Today: The Vietnam-Canada Business Association (VCBA), in collaboration with the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), organized a seminar on August 9 to support Vietnamese enterprises in accessing the North American and Canadian markets. The seminar was held in a hybrid format, accommodating both in-person and online participants.
This event is part of a broader cooperation project between the VCBA and ITPC aimed at promoting Vietnamese products in the North American market. In the initial phase of the project, Vietnamese enterprises will receive support to introduce and market their products in the 88 supermarket chain in Canada, which is owned by VCBA Chairman Chau Tu Cuong.
Chairman Cuong, who also operates the 88 supermarket chain in Vancouver, highlighted the significant potential for Vietnamese products in the Canadian and North American markets. He emphasized that this initiative is expected to strengthen business cooperation between the business communities of both countries.
The cooperation project was initiated following a visit to Vietnam by a VCBA delegation last year, which aimed to gain insights into the Vietnamese market.
In the first half of 2024, Canada imported over $228 million worth of agricultural and food products from Vietnam, representing 5.5% of Vietnam’s total export value to Canada. This marks an increase of approximately 24% compared to the same period last year. Key Vietnamese exports to Canada include seafood and processed seafood, with a turnover of nearly $100 million.
Currently, products of Asian origin entering the Canadian market primarily consist of dried goods, processed foods, non-alcoholic beverages, spices, and sauces. According to Cuong, these products are expected to continue achieving high consumption levels during the 2024-2030 period.
Cuong also noted that Vietnamese-owned import-export enterprises and supermarket chains in Canada play a crucial role in distributing Vietnamese products, leveraging their deep understanding of the tastes and preferences of Vietnamese and Asian communities. This expertise is instrumental in bringing more Vietnamese products to the Canadian and broader North American markets.
The seminar and subsequent cooperation efforts underscore the commitment of both Vietnamese and Canadian business communities to enhance trade relations and create new opportunities for Vietnamese products in the global market.
