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Vietnam – Alberta Relations

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Vietnam – Alberta Relations Vietnam – Alberta Relations This map is a generalized illustration only and is not intended to be used for reference purposes. The representation of political boundaries does not necessarily reflect the position of the Government of Alberta on international issues of recognition, sovereignty or jurisdiction. PROFILE committed itself to a stable and Development Agency (CIDA)-funded predictable rules-based trade regime Vietnam-Judicial Development and Capital: Hanoi including specific commitments for Grassroots Engagement (JUDGE) Population: 88.8 million (2012 est.) tariffs on goods and services. Project. This five-year (2006-2011) Vietnam’s commitment to establishing a project aimed to strengthen the Language: Vietnamese (official), dispute resolution agency governed by capacity of the Vietnamese legal- English, French and Chinese common international law may be a key judicial sector in support of more transparency and accountability. Government: Communist State, one- component in increasing foreign Alberta shared its expertise in court party rule investment. administration and procedural reform. Vietnam became a member of the Asia Head of State: President Truong Tan Pacific Economic Cooperation (APEC) in COMMUNITY SANG (since July 25, 2011) 1998 and hosted the 2006 APEC Approximately 25,100 Albertans are of Head of Government: Prime Minister Summit in Hanoi. Canada is also a Vietnamese descent. Nguyen Tan DUNG (since June 27, 2006) member of this 21-member regional Between 2006 and 2010, 11,447 forum, established in 1989, to further immigrants from Vietnam chose Alberta Currency: $1CDN = 20,408 Dong (VND) enhance economic growth and (October 2013) as their destination. Approximately prosperity in the Asia-Pacific region. 17% were economic immigrants. GDP: $155.6 billion US (2012) Vietnam became a member of the During the same time period, 634 Association of Southeast Asian Nations foreign workers from Vietnam were GDP (PPP): $320.0 billion US (2012 (ASEAN) in 1995. The 10-member issued a permit to work in Alberta. est.) association was established in 1967. From 2006 to 2010, 282 foreign GDP growth rate: 5.0% (2012) Following the conclusion of the second students from Vietnam were issued a Indochina War, South Vietnam was Inflation: 9.1% (2012) permit to study in Alberta. officially integrated with the North as Active Vietnamese community the Socialist Republic of Vietnam on Key Industry Sectors: Food associations have been established in July 2, 1976. processing, garments, shoes, machine- Calgary and Edmonton, including the building, mining, coal, steel, cement, RELATIONSHIP OVERVIEW Vietnamese Chinese Association and chemical fertilizer, glass, tires, oil and Since 2006, Vietnam has received the Viets Association. paper. funding from the Government of Alberta DID YOU KNOW? for flood relief and for other projects to relieve poverty. By joining the World Trade Organization in 2007, Vietnam has The Government of Alberta participated in the Canadian International October 2013 TRADE AND INVESTMENT Comparatively, Alberta’s proven oil improve English language skills and Between 2008 and 2012, Alberta’s reserves were 169.7 billion bbl in 2012. acquire broader knowledge in related annual exports to Vietnam averaged In 2012, Vietnam’s crude oil production areas ranging from rural development $35.7 million CAD. Exports included averaged 363,500 barrels per day and agriculture to finance and higher hides and skins, machinery, wheat, (bbl/d). Although Vietnam is a education through Project 165. plastics and beef. significant oil producer it remains reliant AGREEMENTS on imports of value-added petroleum During the same period, Alberta’s Canada and Vietnam are currently products owing to a lack of refining imports from Vietnam averaged negotiating parties in the Trans-Pacific capacity. approximately $47.8 million CAD Partnership, a regional free trade annually, consisting of furniture, iron and Vietnam’s first oil refinery opened in agreement. steel products, and electrical machinery. February 2009, and processes 148,000 Alberta and Vietnam have agreements This figure does not include goods sold in bbl/d. It is owned by PetroVietnam, and to advance cooperation in the areas of Alberta that arrived via distribution hubs is designed to meet one-third of vocational training, labour mobility, in other provinces. Vietnam’s fuel demand. trade and agriculture-related training AGRICULTURE AND FORESTRY To meet increasing refined product and research. demand, Vietnam plans to expand its Vietnam approved exports of live breeding EMERGING OPPORTUNITIES cattle, sheep, and goats from Canada in refining capacity up to 1,520,000 bbl/d late 2011, providing access to a market by 2020. For this plan, the Vietnam Alberta export opportunities exist in valued at around $50 million. government is trying to attract joint information communication technology, venture investment or foreign direct education and training, agri-food and Alberta’s agri-food exports to Vietnam investment. forestry. were valued at $23.5 million in 2012 (a 100% increase from 2011). Vietnam’s proven gas reserves are 24.7 Vietnam’s largest import sectors trillion cubic feet (Tcf) as of January include machinery and equipment, Top agri-food exports included wheat 2012. Currently, all production is petrochemicals, fertilizers, steel ($11.4 million), raw hides and skins ($6.2 consumed domestically. products, grain, cement and raw million) and beef ($3.4 million). Opportunities exist in Vietnam’s cotton. Vietnam is Alberta’s fifth largest market electricity sector, as the country faces RECENT VISITS for exports of raw hides and skins, valued acute power shortages. at $6.2 million in 2012. September 2012: A Vietnamese EDUCATION Exports of forest products from Canada agriculture business delegation visited are now worth $26.4 billion and the $17.2 In 2013, Alberta postsecondary Alberta for livestock production billion trade surplus in forest products is institutions joined a mission to Vietnam technology and services. to attend the Canada Education Week second only to oil and gas. This remains DIPLOMATIC REPRESENTATION important to rural communities that rely fair. on the health of the forest sector. Vietnam offers enormous opportunities Vietnam’s Ambassador in Ottawa is His Excellency Le Sy Vuong Ha. ENERGY for educational institutions with the increased demand for skilled Vietnam’s Consul General in Alberta and Vietnam have a long history professionals. Vietnamese families Vancouver, responsible for Alberta, is of cooperation in the energy sector. continue to seek out high quality Mr. Quang Dung Tran. Calgary-based Talisman Energy has education for their children. interests in three offshore oil drilling Canada’s Ambassador to Vietnam, projects off Vietnam’s coast, in the South Vietnam is poised to be in the top 25 located in Hanoi, is Ms.Deborah China Sea. Keeper Energy, also based in foreign student source countries for Chatsis. Calgary, has partnered with a subsidiary Canada. of government-owned PetroVietnam to Alberta sponsored a delegation of explore coalbed methane onshore. Vietnamese and Thailand education PetroVietnam has been looking at representatives to Alberta as part of a acquiring energy assets abroad, including cross-Canada tour in June 2010. in Alberta. Vietnam has been sending senior civil Vietnam’s proven oil reserves were 4.4 servants to Alberta since 2010 to billion barrels (bbl) in 2012. For more information, contact: Alberta International and Intergovernmental Relations Phone: 780-427-6543 Fax: 780-427-0699 albertacanada.com international.alberta.ca .
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