Vietnam and Canada have elevated their bilateral relations to a strategic partnership, enhancing cooperation across several sectors including trade, energy, agriculture, defense, technology, and education. This development was announced by Vietnamese President To Lam during his state visit to Canada, highlighting the two nations’ shared interests in boosting resilience, diversifying partnerships, and upholding a rules-based international order.
Canadian Prime Minister Mark Carney welcomed the upgraded partnership, emphasizing the growth in bilateral relations since a 2017 cooperation agreement that covered investment, defense, and academia. Canadian officials noted that the new strategic alignment will focus heavily on energy, agriculture, defense cooperation, and fostering stronger people-to-people connections between the two countries.
Vietnam holds the position as Canada’s largest trading partner in Southeast Asia, with merchandise trade between the two nations surpassing $20 billion last year. Canada’s exports to Vietnam primarily consist of food, metals, and fertilizers, while Vietnam supplies Canada with electronics, clothing, furniture, and footwear. Both countries are also participants in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which provides a framework for expanding trade and economic collaboration across the Asia-Pacific region.
The decision to strengthen ties comes at a time when both nations are seeking to diversify their trade and supply chains amidst increasing global economic uncertainty. For Vietnam, this move is part of a broader strategy to extend its international economic relationships beyond reliance on major markets.