Vietnam, Canada Seek Deeper Industrial Ties Amid Global Shifts
State President To Lam's visit to Canada has highlighted opportunities for expanded cooperation between Vietnam and Canada in industrial development. Despite favorable institutional foundations, bilateral trade remains modest, with a focus on finished consumer goods and electronic components.
The two countries have yet to establish integrated production networks or share core technologies, but there are signs of progress. Canada is reshaping its industrial policies, seeking deeper linkages with trading partners in the Asia-Pacific region.
Canada's metallurgy industry is a prime area for cooperation, given Vietnam's significant demand for green steelmaking technologies and advanced metal materials. Partnerships could facilitate technology transfer, joint research, and training of engineers to upgrade Vietnam's capabilities.
A combination of Canada's high-quality temperate-climate raw materials and Vietnam's tropical agricultural products, seafood, and biomass resources could open opportunities for developing high-value-added food products and circular economy models.