Trade Agreements Between Canada And Vietnam

In the Economic Indicators section, data on PPP GDP, PPP GDP per capita, population, and international exports and imports of goods come from the World Bank`s Development Indicators Database. Classifications of goods and services are based on data from Statistics Canada. The Ease of Doing Business ranking comes from the World Bank`s Doing Business project. The World Competitiveness Ranking is derived from the World Economic Forum`s Global Competitiveness Report. Balance of payments data: Balance of payments data calculate trade flows from surveys of international trade and investment by enterprises and other enterprises. The conditions set out in the CPTPP create a trading framework for better market access between Member States. Once the agreement is ratified, the elimination of tariffs abroad will have the potential to boost Canada`s activities abroad if applied strategically. In 2018, Canada`s merchandise exports to Vietnam amounted to approximately $US 1 billion. Canada`s merchandise imports from Vietnam totaled more than $5.39 billion. While the potential for increased Canadian trade and investment in Vietnam is strong, Canada expects a weak base. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is a free trade agreement between Canada and ten other countries in the Asia-Pacific region: Australia, Brunei, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. Once fully implemented, the 11 countries will form a trading bloc representing 495 million consumers and 13.5% of global GDP and providing Canada with privileged access to key markets in Asia and Latin America. In 2018, Canada and Vietnam signed the Comprehensive and Progressive Agreement for Trans-Pacific Partnership with other nations along the Pacific region.

In 2018, mutual exchanges between the two nations totalled $6.4 billion. [2] Vietnam has been Canada`s largest trading partner in the ASEAN region since 2015. . . .