Leverage FTAs to enter ASEAN: Manufacturing and Technology opportunities for BC business in Vietnam

The CABC is delighted to invite you to join us at the seminar “Leverage FTAs to enter ASEAN: Manufacturing and Technology opportunities for BC business in Vietnam” which will be held on October 12, 2023, in Vancouver, British Colombia.

Co-organized by the British Colombia Ministry of Jobs, Economic Development and Innovation, the Vietnam Ministry of Industry and Trade (Vietnam Trade Office in Canada), and the Vietnam Ministry of Science and Technology (Science and Technology Office in Canada), the seminar aims to evaluate the CPTPP’s five years of implementation and the best course of action for maximising its benefits in the new context of the Indo-Pacific Strategy and the upcoming Canada-ASEAN free trade agreement.

Synopsis: 

ASEAN region is the fastest growing economic region in the world and will be the consumption gravity of the world by 2030 with 660 million of consumers. ASEAN is now the 5th largest economy in the world and quickly emerging as a new global hub for trade, exchange, and innovation. Vietnam has been a good and significant partner for Canada in ASEAN for 50 years. Vietnam has consistently been the top ASEAN destination for Canadian goods thanks to an average economic growth rate of 7% over a 30-year period, and it can serve as a gateway for Canadian companies looking to grow in the region.

The momentum of trade relations between Vietnam and British Colombia is regaining after the Covid and has increased 63% in 2022 in comparison to 2021. The BC is now Vietnam’s largest FDI provincial destination in Canada with 6 registered projects with a value of more than 220 million USD. The 1st Joint-Economic Committee between Vietnam and Canada; the Vietnam-Canada Business Forum organized last July 2022 in Vancouver; and the recent visit of the BC’s Minister of Trade to Vietnam have all contributed to enhancing the mutual understanding between our businesses.

BC companies will be updated with policies and geo-political contexts to better understand free trade agreements (FTAs) and tap on them to grow and go global. Speakers from BC and Vietnam’s governments will explain how FTAs might improve BC's economic links with ASEAN as well as how the region is important in Canada’s Indo-Pacific strategy. The results of the CPTPP’s five years of implementation will be presented by Dr. Quynh Tran from the Vietnam Trade Office in Canada, who will also discuss how British Colombia businesses may use it to better source, sell, and partner in ASEAN. Several supporting mechanisms from the BC government to enterprises to diversify and improve the supply chain connection will be shared by a speaker from the Ministry of Jobs, Economic Development, and Innovation. Mr. Hoang Dinh from the Vietnam Ministry of Science and Technology will share with BC’s companies the efforts of Vietnam’s government to support tech companies and new investment opportunities in the high-tech sector in Vietnam.

From a business viewpoint, Senior Program Manager of the Asia Pacific Foundation, Mr. Justin Kwan will look at key challenges and opportunities faced by micro, small, and medium enterprises (MSMEs) in APEC emerging economies in the context of the Canadian Indo-Pacific Strategy. Mr. Kwan is leading the APEC-Canada Growing Business Partnership project, aiming to help MSMEs and entrepreneurs scale up their businesses, improve business management practices, and access resources and connections with a focus on sustainable, inclusive growth and poverty reduction.

Executive Director Thi Be Nguyen of the ASEAN-Canada Business Council will examine why ASEAN has been the destination of choice for her members to remain competitive and hedge risk for decades and how ongoing trade agreements with the region might open up new potentials. The CEO of Dan D Pak will also discuss the company’s achievements in Vietnam to inspire BC businesses to take advantage of the region’s growing business prospects.

The seminar is one of the events honouring the 30th Anniversary of the Vietnam Trade Office in Canada and the 50th Anniversary of diplomatic relations between Vietnam and Canada, as well as an excellent occasion to tighten the two countries’ economic ties.

The event is supported by the Asia Pacific Foundation, the Vietnam-Canada Business Association in British Colombia, the Surrey Board of Trade, and the Vancouver Economic Committee.

*The seminar will followed by a cocktail reception. Seats are limited and by confirmation only.