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Canada and Vietnam have officially elevated their relationship to a Strategic Partnership, marking a significant milestone more than five decades after establishing diplomatic relations.
The announcement came during Vietnamese leader TΓ΄ LΓ’mβs state visit to Canada and meeting with Prime Minister Mark Carney. The economic backdrop is increasingly important: two-way merchandise trade reached $20.6 billion in 2025, with Vietnam now Canadaβs largest merchandise trading partner in ASEAN.
But the new partnership goes well beyond trade.
The two countries identified cooperation across eight pillars, covering trade and investment, supply chains, AI and digital transformation, energy, agri-food, defence, education and other areas. Four MOUs were also signed or renewed, including agreements covering conventional and clean energy, maritime transport and environmental cooperation.
Another tangible development: an expanded air transport agreement will allow direct passenger and cargo flights between Canada and Vietnam for the first time.
For businesses and investors, this could create new channels for capital, technology and trade between a resource-rich Canadian economy and one of Southeast Asiaβs major manufacturing and consumer markets.
As global supply chains continue to diversify, CanadaβVietnam economic ties will be an interesting relationship to watch.
Original post from CBC
