Trade Facilitation Office Canada (TFO Canada) and Vietnam Trade Promotion Agency today [June 1] signed an agreement to implement an export capability building project for Vietnamese women-led enterprises during the 2021-2024 period.

Female workers at New Wing Interconnect Technology. Photo: Minh Linh

The signing ceremony was taken place in the virtual format with the presence of the Vietnam Trade Office in Canada and the Canadian Ambassador to Vietnam.

The project is in line with the “Women in Trade for Inclusive and Sustainable Growth” carried out by the TFO Canada with financial support from Global Affairs Canada (GAC) in 24 developing countries, including Vietnam.

Under the agreement, the TFO Canada would collaborate with the Vietnam Trade Promotion Agency in assisting small and medium enterprises (SMEs) owned by Vietnamese women in the fields of food processing and garment to enhance export capability via training courses on e-commerce, gender equality, or trade promotion skills.

The ultimate goal would be for these enterprises to better take advantage of bilateral and multilateral trade agreements that Vietnam is a part of.

The TFO Canada also plans to support Vietnamese enterprises taking part in trade exhibition events in potential markets, or opening online booths at international trade fairs.

At the ceremony, Vietnam Trade Counsellor in Canada Do Thu Huong said the Trade Office in Canada has been working with the TFO Canada in a number of projects supporting SMEs in Vietnam in fields of craft products, agriculture, seafood, footwear, and textile.

“Canadian experts have given valuable advises to Vietnamese enterprises in product development and marketing strategy to further penetrate the Canadian market,” she added.

Vietnamese women-led enterprises currently make up 25% of total SMEs operating in the country, contributing significantly to job creation and providing a stable income for locals.

In Canada, the model of women-owned businesses is growing strong with an expansion rate of 30% in the past 10 years, totaling 360,000 enterprises of this type in the country.

They are also benefiting from a Canadian government support program worth CAD2 billion (US$1.66 billion) to double the number of women-led enterprises by 2025.