British Columbia opens new office in Vietnam

The Trade and Investment Representative (TIR) office opened in Ho Chi Minh City, Vietnam to support British Columbia (B.C.) businesses with better access to the Vietnamese market and promote B.C. origin exports. The office works alongside a Forestry Innovation Investment (FII), announced in 2022 which promotes B.C. exports, including value-added wood sales.

"Having a trade office in Vietnam increases supports for B.C. businesses to access the Vietnamese market, creates more opportunities and well-paid jobs, and generates clean and inclusive economic growth here at home," said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. "By expanding our trade relationships, and promoting B.C.'s innovative, sustainable products and services internationally, we are continuing our work to support businesses and people in both jurisdictions."

“I had the honour of joining the BC Government to announce the opening of the FII office in Binh Duong Province last year, which supports the strong furniture making industry, and is also a vivid example of our two-way economic relationship,” said Quang Trung Nguyen, Consul General of Vietnam in Vancouver. “The opening of B.C.’s new Trade and Investment Representative office (TIR) in Vietnam demonstrates not only our fast-growing economic partnership, but also the BC Government’s determination to support more good jobs and opportunities for both B.C. and Vietnamese businesses. This announcement will surely help cement our great existing relationship this year, especially as we celebrate the 50th anniversary of our diplomatic relations.”

The new Trade Diversification Strategy identifies key actions to increase export and investment opportunities in three new targeted markets, while expanding in existing markets.

"We know that B.C.'s success is linked to international trade and business we do around the world, including Vietnam," said Jagrup Brar, Minister of State for Trade. "That's why, through this strategy and our office in Ho Chi Minh, we're leveraging our competitive advantage and working closely with B.C. businesses, industries and community partners to deliver high-quality, made-in-B.C. goods and services that people need. We look forward to strengthening our relationship with Vietnam."

Vietnam is Canada’s largest trading partner in Southeast Asia, with B.C. having a 18.8% share of total Canadian exports to Vietnam in 2022. In 2022, fruits exported from B.C. to Vietnam accounted for 88% of the total Canadian export market share and was valued at CAD $20.5 million. Vietnam is the 23rd largest destination for B.C. origin exports.

Agrifood and seafood accounted for nearly half of all Canadian exports to Vietnam, which was the 3rd largest destination for Canadian agrifood and seafood exports in Southeast Asia.

Canada and Vietnam are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).