The Canadian Embassy began work on a new office in Hanoi Wednesday, saying it was a milestone marker of 50 years (1973-2023) of diplomatic ties between the two countries.
The move will allow the embassy to fulfil bigger tasks, overcoming limitations of the current location, said Vietnamese Deputy Minister of Foreign Affairs Ha Kim Ngoc.
Canadian ambassador Shawn Steil said the new office, located in Capital Place Building, Lieu Giai Street, Ba Dinh district, will meet green economy requirements.
Speaking to the press, Steil said economic cooperation between the two countries was set to thrive in the coming years with two-way trade growing alongside rising consumption by Canadian citizens, among the highest in the G7 Group.
Another boost for the bilateral trade is that Vietnam has lifted restrictions on importing Canadian wheat, the ambassador added.
Canada established diplomatic relations with Vietnam in 1973, opened an embassy in Hanoi in 1994 and a Consulate General’s office in Ho Chi Minh City in 1995.
In November 2022, both countries celebrated the fifth anniversary of the Canada-Vietnam Comprehensive Partnership, which was announced during Canadian Prime Minister Justin Trudeau’s visit to Vietnam in 2017.
In 2022, the two-way bilateral trade reached $13.8 billion, up from $10.5 billion in 2021, comprising mainly of imports from Vietnam. Canada is now among the top 10 markets for Vietnamese exports.
In the first 11 months of this year, Vietnam's outbound foreign direct investment (FDI) reached $395 million, down 16.7% year-on-year, according to the Ministry of Planning and Investment. Canada accounted for the biggest share with $150 million. FDI from Canada to Vietnam was $39.67 million.
Canada has been a development partner in Vietnam for more than 30 years. Since 1990, the country has contributed approximately $1.8 billion in international assistance via bilateral, multilateral and humanitarian channels to support Vietnam’s development and poverty reduction efforts.
Canada is also an integral partner of the Vietnam’s Just Energy Transition Partnership (JETP).