Vietnam's export market to Canada is wide open thanks to CPTPP.

DNHN - To maximize the benefits of the CPTPP Agreement and enhance the ability to export to the Canadian market, the Vietnam Trade Office in Canada advises businesses to increase their focus on market research, demand analysis, and regulatory compliance.

Thanks to competitive advantages and substantial import tax benefits (reductions of up to 94%), Canadian businesses are becoming increasingly interested in and knowledgeable about Vietnam's products and production capabilities.

Vietnam's purchasing strategy is characterized by the factors "stable, predictable, and low-cost" In contrast, Vietnamese businesses are increasingly utilizing the Comprehensive and Progressive Free Trade Agreements (CPTPP) to expand export markets, as evidenced by their increased understanding of the CPTPP and use of C/O forms under the CPTPP.

Many Vietnamese exports to the Canadian market have increased significantly over the past year. In particular, plastic materials grew by 224% to 16.6 million USD; handbags, wallets, suitcases, hats, and umbrellas grew by 115% to 192 million USD; footwear of all types grew by 64.5% to 605 million USD; and textiles grew by 40% to 1.3 billion USD.

According to the Vietnam Trade Office in Canada, several Vietnamese sectors and products are in high demand in the Canadian market, including electric cables and small electrical appliances, household plastic products, plastic bags and toys, paper and cardboard products, jewelry, aluminum plastic doors, and rolling windows, organic cosmetics and aromatherapy, handicrafts, glass, and household and sanitary ceramics.

However, the Canadian market presents many obstacles for Vietnamese businesses, particularly in the face of competition from South American rivals. Other obstacles, such as geographical distance, high advertising costs for market penetration, and transportation expenses, also exert pressure on Vietnamese businesses.

To maximize the benefits of the CPTPP Agreement and enhance the ability to export to the Canadian market, the Vietnam Trade Office in Canada advises businesses to place greater emphasis on market research, demand analysis, and compliance with local regulations. At the same time, expanding the production scale and enhancing product quality and standards are also given significant weight. Particularly, compliance with new environmental and fair trade regulations is regarded as a significant factor in maintaining and expanding export markets to Canada.

P.V (t/h)