HO CHI MINH CITY: Vietnam is leveraging its 2026 Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) chairmanship to strengthen economic resilience and deepen cooperation between the member states and the European Union (EU).
Against a backdrop of growing geopolitical uncertainty, supply chain disruptions and slower global trade growth, policymakers and business leaders gathered in Ho Chi Minh City this week to explore how closer collaboration between two of the world’s most advanced trade blocs could reinforce an open, rules-based trading system while creating new opportunities for sustainable growth.
The discussions took place at the Canada–Vietnam Forum on Economic Resilience and Cooperation between CPTPP and EU economies, held on the sidelines of the third Senior Officials’ Meeting (SOM3) under Vietnam’s CPTPP Chairmanship Year 2026.
More than a diplomatic event, the forum reflected an emerging consensus that strengthening links between CPTPP members and the EU has become increasingly important,
It highlighted governments and businesses seeking to diversify markets, reduce strategic vulnerabilities and accelerate the transition towards greener and more digital economies.
Speaking at the opening session, representatives from Vietnam and Canada stressed that the current international landscape demands stronger partnerships built on transparency, resilience and predictable trade rules rather than protectionism.
Canada’s Ambassador to Vietnam, Jim Nickel, noted that Canada and Vietnam have become increasingly important partners in the Indo-Pacific, with bilateral cooperation expanding well beyond traditional trade into innovation, clean technology, sustainable development and supply chain resilience.
He said the relationship demonstrated how middle powers can work together to promote economic stability while supporting an international trading system based on clear rules and mutual trust.
The ambassador also highlighted the growing importance of CPTPP as one of the world’s highest-standard free trade agreements, particularly at a time when businesses are seeking certainty amid global economic fragmentation.
For Vietnam, the forum marked another milestone in its role as chair of CPTPP in 2026. Throughout the chairmanship year, Vietnam has sought to position the agreement not only as a platform for trade liberalisation among its 12 members but also as a framework across borders capable of engaging with other major economic partners on issues ranging from digital trade and green growth to supply chain security.
Officials said stronger engagement with the European Union could help unlock new opportunities for businesses on both sides by reducing regulatory barriers, promoting innovation and encouraging investment in strategic industries.
One of the forum’s central themes was economic resilience.
Speakers agreed that resilience today extended far beyond the ability to withstand external shocks.
Instead, it increasingly depended on diversified supply chains, digital connectivity, technological innovation and closer cooperation among trusted partners.
Lessons from recent years, including the Covid-19 pandemic, geopolitical tensions and disruptions in global shipping, have prompted governments to rethink how supply chains should be designed.
Rather than pursuing maximum efficiency alone, many economies are now placing greater emphasis on reliability, sustainability and flexibility.
Participants said that closer cooperation between CPTPP members and European economies could play an important role in achieving these objectives.
The two economic frameworks share many common principles, including commitments to market openness, high-standard trade rules, environmental protection, labour standards and transparent governance.
Although the EU is not part of CPTPP, several countries maintain extensive economic relationships across both frameworks, creating opportunities for stronger institutional cooperation.
Vietnam occupies a particularly strategic position in this regard.
It is one of the few economies that enjoys comprehensive trade agreements with both CPTPP members and the European Union through the EU–Vietnam Free Trade Agreement.
This unique position allows the country to serve as a bridge connecting businesses, investors and supply chains across the Indo-Pacific and Europe.
Experts at the forum noted that this dual integration provides Vietnam with significant advantages as multinational companies diversify production networks and seek alternative investment destinations.
Combined with continued improvements in infrastructure, logistics and the investment environment, the country’s extensive network of free trade agreements has strengthened its competitiveness as a regional manufacturing and export hub.
Digital transformation also featured prominently during the discussions.
Participants emphasised that future trade growth will increasingly depend on digital commerce, cross-border data flows and interoperable regulatory frameworks.
Closer dialogue between CPTPP economies and the EU could facilitate the development of compatible digital standards while reducing unnecessary compliance costs for businesses operating across multiple jurisdictions.
Small and medium enterprises (SMEs), in particular, stand to benefit from greater regulatory coherence.
Despite accounting for the majority of businesses in most economies, SMEs often face disproportionately high costs when entering overseas markets.
Simplified customs procedures, greater transparency and digital trade facilitation could enable more smaller firms to participate in international commerce.
Green growth represented another major pillar of the forum.
As governments strengthen climate commitments and introduce carbon-related regulations, businesses are increasingly required to demonstrate sustainable production practices. — Viet Nam News/ANN
