© IJARW | ISSN (O) - 2582-1008 February 2023 | Vol. 4 Issue. 8 www.ijarw.com IJARW1794 International Journal of All Research Writings 109 THE ASEAN – CANADA FREE TRADE AGREEMENT AND ITS IMPACTS ON VIETNAMESE ECONOMY Vu Thi Oanh 1 , Tran Thi Phuong Thao 2 Thai Nguyen University of Economics and Business Administration, Thai Nguyen University, Vietnam ABSTRACT At the 10th ASEAN-Canada Economic Ministers Consultation, on November 17, 2021, discussions for an ASEAN-Canada Free Trade Agreement (FTA) began. The FTA will boost market access for both ASEAN and Canadian enterprises and strengthen economic connections between ASEAN and Canada. It will also bring ASEAN closer to global value chains. Vietnam has taken a proactive role in Free Trade Agreements (including new-generation Agreements), particularly the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which Vietnam and Canada are both signatories to. Following the CPTPP, a new Free Trade Agreement between ASEAN and Canada will be evaluated for its added value and benefits as well as for compliance with the Party and State's integration policies. The article describes and evaluates the ASEAN-Canada Free Trade Agreement, which is anticipated to be signed in the near future. It also forecasts and evaluates the impact of the Agreement on the Vietnamese economy. Keyword: FTA, ASEAN-CANADA, Impact, Vietnam 1. THE NEED FOR AN ASEAN-CANADA FREE TRADE AGREEMENT The Association of Southeast Asian Nations (ASEAN) has been supporting the implementation of FTAs with partner nations such as China, Japan, Korea, and India, as well as Australia-New Zealand, Hong Kong, and others in order to increase integration into the global economy. A long history of collaboration and a solid bilateral partnership exists between Canada and the Association of Southeast Asian Nations (ASEAN). Since 1977, Canada has been an ASEAN conversation partner. In 1981, the ASEAN-Canada Economic Collaboration Agreement (ACECA) was signed, providing a framework for bilateral industrial, commercial, and technical cooperation. The ASEAN-Canada cooperation relationship has advanced significantly over the past 45 years, providing significant impetus to encourage development and at the same time providing significant nudges to propel the relationship to new heights. As part of its foreign policy, Canada has traditionally placed a high focus on collaboration with ASEAN. This North American nation, which has the second-largest area in the world, stressed the crucial role ASEAN plays in preserving the region's political stability and economic growth and frequently expresses its desire to join in ASEAN-led initiatives. Canada has pledged to support ASEAN in its community-building initiatives, such as the implementation of the ASEAN Vision 2025 along with the Master Plan on ASEAN Connectivity 2025 (MPAC 2025) and the Initiative for ASEAN Integration (IAI) Work Plan IV, as well as pandemic response and recovery. The ASEAN nations, for their part, are extremely grateful for Canada's commitments and support in all three pillars of politics, security, economy, society, and culture, particularly in areas like trade and investment, small and medium-sized businesses, education, disaster management, energy security, combating transnational crime, women's and children's rights, and migrant workers. At the 10th ASEAN-Canada Economic Ministers Consultation, on November 17, 2021, discussions for an ASEAN-Canada Free Trade Agreement (FTA) beganIt also vowed to keep looking for ways to lessen the effects of the Covid-19 pandemic and emphasized the significance of international cooperation, including ensuring equal access to vaccines that are both safe and effective. A free trade agreement (FTA) between ASEAN and