Canada and Viet Nam expand economic cooperation into technology and energy

Canada and Viet Nam are expanding their economic relationship beyond traditional goods trade toward deeper cooperation in high-value sectors. Building on the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the two nations are targeting growth in clean energy, critical minerals, advanced technology, manufacturing, aerospace, and the defense industry.

Viet Nam currently serves as Canada’s largest trading partner within ASEAN. Recent discussions, including the Canada–Viet Nam Forum on Economic Resilience and CPTPP–EU Linkages in Ho Chi Minh City, highlighted the strategic importance of aligning CPTPP members with the European Union. Together, these groups represent approximately 32 percent of global GDP and 37 percent of global trade.

While the potential for cooperation is significant, participants identified several challenges to achieving full regulatory convergence. These include limited negotiating capacity among lower-income CPTPP members, asymmetric institutional structures, and the need to bridge the gap between written agreements and their practical application. Current efforts are focused on near-term actions that can be advanced without immediate resolution of broader regulatory questions.