Vietnam, Canada strengthen cooperation amidst global trade tensions
Quebec leaders expressed their determination to bolster comprehensive cooperation with Vietnam as part of Canada's strategy to diversify markets and reduce its dependence on the US market.
Quebec leaders have expressed their determination to bolster comprehensive cooperation with Vietnam as part of Canada's strategy to diversify markets. (Photo: VNA)
Ottawa (VNA) - As trade tensions with the US escalate, Canada's Quebec province is actively seeking reliable partners, with Vietnam emerging as a destination of strategic significance.
At the recent meetings with the Vietnamese Embassy’s delegation, led by Ambassador Pham Vinh Quang, Quebec leaders expressed their determination to bolster comprehensive cooperation with Vietnam as part of Canada's strategy to diversify markets and reduce its dependence on the US market.
Quebec's Minister of International Relations and La Francophonie Martine Biron underscored the importance of establishing a direct maritime transport corr🥂idor between the port of Montreal and Vietnam, helping optimise shipping costs and time while demonstrati♋ng the locality’s efforts to address current trade challenges.
Vietnamese Ambassador Pham Vinh Quang (L) and Quebec's Minister of International Relations and La Francophonie Martine Biron (Photo: VNA)
With its GRDP valued at approximately 320 billion USD in 2024, Quebec is positioning itself as one of Canada's most dynamic economies. The province not only leads in renewable energy production but also boasts strengths in innovation, information technology, artificial intelligence, and biotechnology.
Quebec has invested in 125 projects with Vietnam while bilateral trade stands at 1.5 billion USD, contributing to the total Vietnam - Canada trade turnover of 11 billion USD in 2024. This turns Vietnam into Canada's largest trading partner in ASEAN.
Notab👍ly, as the US recently announced reciprocal tariffs on several countries, Quebec's Deputy Minister of International Relations and La Francophonie Alain Sans Cartier emphasised the importance of countries uniting to address common challenges, while affirming the province's commitment to the free trade policy🔴./.
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