CPTPP – A Great Opportunity for Trade between Vietnam and Canada in The New Normal

Abstract

The study focuses on Vietnam - Canada trade analysis. Research data was conducted over the period 2001-2018 from the UN Comtrade site. By using the trade index method, the study has shown that the CPTPP will be a great opportunity for Vietnam to boost exports of textile products, leather shoes and wooden products, vegetables, fruits and seafood to Canada. In the opposite direction, Canada will have more opportunities to export high-tech products to Vietnam. Based on these findings, the study also suggests a number of policies to promote trade relations with Canada in the future. To take advantage of opportunities and avoid losses when Vietnam is a member of the CPTPP, the Government of Vietnam needs to: (i) develop a strategy to help businesses accessing information from the CPTPP; (ii) exporter needs a specific plan and action to take advantage of the preferences and expands the network of partners in Canada; (iii) goods -producing enterprises supplying domestic market need to take measures to improve their competitiveness compared with imported goods.