Ottawa (AVN) – Relations with Vietnam will remain a priority for the Liberal Party of Canada (LP), led by Prime Minister Justin Trudeau, and will strengthen in the following years, commented Canadian academics.
Vietnam is likely to remain a priority in LP policy given three key elements, Sophia Leong, member of the Canada-ASEAN initiatives advisory board, told the Vietnamese News Agency correspondent in Ottawa.
First, she said, the Vietnamese economy is resilient, and we have seen this firsthand with the Vietnamese economy expanding to almost 3% in 2020, which is one of the highest in the world during COVID-19, an economically difficult time.
Second, Vietnam’s rapid expansion of its middle class further provides much needed economic and trade stability, as both of our economies must adapt to the growth impacts of the Fourth Industrial Revolution, she continued.
Finally, the pandemic has accelerated digital transformation, and both economies are aggressively adapting to the new normal, she said. Vietnam is poised to embrace a digital economy faster than other Southeast Asian countries, and a recent report by Temasek recognizes Vietnam’s digital economy as “a rampaging dragon.”
âVietnam is aggressively building the key pillars necessary for a digital economy – connectivity, logistics, digital payment and talent skills,â Leong added. âThe advantage of a young population in Vietnam is its aspiration for entrepreneurship and its ability to learn, adopt and innovate. This is where Canada could have key roles and impact.
As the Liberals are re-elected, there will be a steady increase in attention to the Indo-Pacific and a continued focus on developing a strategy for the Indo-Pacific region, J said. Berkshire Miller, Director and Principal Investigator on the Indo-Pacific. at the Macdonald Laurier Institute in Ottawa.
âThis is a priority shared by the two main parties in Canada,â he noted.
Echoing Miller’s point of view, Assoc. Professor Ian Lee of the Sprott School of Business at Carleton University said Canada’s two major political parties want to diversify Canada’s trade relations.
In addition, as Canada and Vietnam are signatories to the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP), it will increasingly become the vehicle, means or route of increased trade between the two countries. .
According to Lee, Vietnam has been Canada’s largest trading partner in ASEAN since 2015.
Global Affairs Canada said in a statement that as Canada faces increasing calls to diversify its relations in Asia and develop a clear and comprehensive Indo-Pacific strategy, it may further strengthen its relationship with Vietnam as the exporters and importers now benefit from increased market access and tariffs. reduction in this business environment
In 2020, two-way trade grew 12.8% compared to 2019, and that figure boosted 38.5% in the first half of this year.
Canada and Vietnam have had strong relations since the early 1970s and along the way
within the framework of partnerships and commercial agreements.
It is believed that the Trudeau administration will continue its interactive foreign policy with Southeast Asia, and Vietnam will be among Canada’s strategic partners in the region. /.