Canadian consumer market boasts huge potential for Vietnamese goods
VOV.VN - Vietnamese and Canadian businesses have shown a keen interest in establishing large supermarket chains in Canada to further enhance bilateral trade and optimise the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The common interest was highlighted at the recent Vietnam – Canada business forum.
Last year saw two-way trade turnover exceed US$10 billion, thereby helping the country to become Canada's largest trading partner in ASEAN. The Vietnamese community in Canada now amounts to 300,000, predominantly residing and working in major cities such as Ottawa, Toronto, Montreal, and Vancouver. Vietnamese consumer goods such as vegetables, food, and fruits, have started to appear in the market through Asian supermarket chains.
Tran Thu Quynh, trade counselor at the Vietnamese Embassy, noted that Vietnamese businesses face challenges in ensuring a stable supply and quality when entering Canada’s distribution system.
Vietnamese products currently consumed in Canadian supermarkets are primarily dried goods, frozen seafood, and vegetables. In the category of herbs and spices such as chili, herbs, and lemongrass, the country faces limited competition.
At the Ocean supermarket chain in Toronto, Vietnamese processed food, dried goods, seafood, vegetables, and fruits account for approximately 40% of the total items on sale. This chain boasts the highest number of Vietnamese goods among Asian supermarket chains in Canada's East Coast region.
Canada, with its harsh climate characterized by prolonged and cold winter, relies heavily on importing vegetables and fruits from abroad. The market has an estimated value of close to US$4 billion, with Vietnamese export value of such items to Canada representing only a very small portion at roughly US$4.8 million.
