The meeting was attended by representatives from ministries, agencies and businesses of both countries to review bilateral economic cooperation and discuss priorities for the coming period.

In the context of continued global economic uncertainty, ongoing supply chain restructuring and growing demands for economic growth, energy security and sustainable development, both sides reaffirmed the increasingly important role of the Joint Economic Committee in stepping up bilateral cooperation and deepening the Vietnam-Canada Comprehensive Partnership established in 2017.

At the meeting, Deputy Minister Phan Thi Thang said Vietnam-Canada economic relations have continued to develop in a positive and substantive manner. Bilateral trade reached nearly US$8.6 billion in 2025, maintaining strong growth since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force.

Vietnam’s exports to Canada rose 18.2% to US$7.5 billion in 2025 and increased a further 25% during the four month of 2026. Canada’s exports to Vietnam grew 24% in 2025 and surged 62%  compared with the same period a year earlier. According to the Vietnamese side, these figures reflect the increasingly complementary nature of the two economies and the effectiveness of efforts to promote trade and investment cooperation.

Deputy Minister Arun Thangaraj shared the assessment of the positive momentum in bilateral economic relations, noting that Vietnam is Canada’s largest trading partner and fastest-growing trading partner in Southeast Asia.

He said Canada hopes to further expand cooperation with Vietnam in trade, investment, supply chains, critical minerals, clean energy, innovation and infrastructure, and reaffirmed Canada’s commitment to working closely with Vietnam to implement the outcomes of the meeting.

Both sides consented to focus on three priority areas: diversifying trade and investment, making effective use of the CPTPP, supporting an open trading system and accelerating negotiations on the ASEAN-Canada Free Trade Agreement (ACAFTA); strengthening cooperation in strategic industries such as critical minerals, high technology, innovation, digital transformation and strategic supply chains; and expanding cooperation in energy, infrastructure and green growth, including clean energy, liquefied natural gas (LNG), logistics, digital infrastructure and sustainable development.

One of the key outcomes of the third meeting was the transition of the Joint Economic Committee mechanism towards a more action-oriented and substantive phase of cooperation. Two working groups completed and agreed on an Action Plan for 2026-2028, setting out cooperation priorities and implementation mechanisms to support bilateral initiatives.

Both sides also highlighted the role of the working groups in maintaining technical dialogue and promoting cooperation in priority areas, while agreeing to continue making effective use of the mechanism to ensure the practical implementation of meeting outcomes.

At the conclusion of the meeting, Deputy Minister Phan Thi Thang and Deputy Minister Arun Thangaraj signed a Joint Statement, adopted the 2026-2028 Action Plans and agreed to hold the fourth meeting in Vietnam in 2028.

The meeting reaffirmed the commitment of Vietnam and Canada to augmenting economic cooperation, deepening the Comprehensive Partnership and creating a foundation for further development of bilateral relations in the period ahead.

On the sidelines of the meeting, the Trade Promotion Agency under Vietnam’s Ministry of Industry and Trade and Trade Facilitation Office Canada (TFO Canada) signed project documents for the Trade Support for Inclusive, Sustainable and Resilient Economic Growth (TRISEG) project in Vietnam for 2026-2030.

Under the arrangement, the Trade Promotion Agency will serve as TFO Canada’s sole strategic partner in Vietnam in carrying out the project.

The initiative aims to support Vietnamese small and medium-sized enterprises, particularly women-led businesses, in enhancing production and export capacity in key agricultural product sectors, thereby promoting inclusive and sustainable economic growth that is more resilient to fluctuations in international markets.

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