With a number of key export items recording a double-digit growth rate, Canada has become Vietnam’s fifth most important export market behind the United States, China, the Republic of Korea, and Japan, according to the General Department of Vietnam Customs.

Vietnamese exports to the Canadian market during the initial three months of the year reached US$2.187 billion. Among the export items, electronics and mobile phones saw an increase 28.9%, while footwear, knitted clothing, non-knitted clothing, boiler reactors, leather products, and optical equipment experienced rises of 82.8%, 12.4%, 29.8%, 16.7%, 75.7%, and 14.2%, respectively.

According to the Vietnam Trade Office in Canada, the enforcement of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) has fueled overseas demand for Vietnamese agricultural products and processed foods in the 2018 - 2022 period.

Consumer goods, and products of the domestic industrial sector witnessed a remarkable rise, demonstrating the CPTPP’s positive impact on Vietnamese exports to the region.

However, experts have advised local firms to utilise preferential tariffs under the trade pact, especially the rule of origin, to further boost exports to the market moving forward.

Source: VOV