Port of Montreal signs strategic agreement with Vietnam to boost trade
In a move to further intensify its relations with Asia, the Port of Montreal recently concluded a successful trade trip to Vietnam that culminated in a signed strategic cooperation agreement.
Coinciding with the 50th anniversary of the normalization of relations between Vietnam and Canada, the two countries are now united by strong trade ties. Vietnam is one of Canada’s top 10 trading partners, mainly in the food and forestry export sectors, and stands out internationally for the vitality of its manufacturing industry, which attracts more and more industrial manufacturing. Located in the core of Canada’s largest consumer hub, the Port of Montreal aims to improve trade routes from Asia and optimize its supply chain, while offering importers and exporters a more efficient, low-carbon solution for their shipping needs.
The cooperation agreement will focus on four work streams, enabling both ports to share information on best practices in port operations and sustainable development. These are the four work streams:
- Market intelligence and business development
- Related activities and services
- Innovation and green technologies
- Management and operation of port facilities
“With Asia now accounting for 24% of volumes handled at the Port of Montreal, we are very pleased to contribute to strengthening ties and developing our trade relations with Vietnam. This cooperation agreement will make it possible for us to position the Port of Montreal as a critical transit hub, and to ensure the implementation of sustainable international supply chains,” said Guillaume Brossard, Vice-President, Development, Marketing and International Relations.
December 5, 2023