Modification - Canada’s Economic Success Story Recognized in China

Minister Peter Van Loan wraps up four-day visit to Shanghai and Beijing

Modification: wording change in seventh paragraph

(No. 181 - Modification - June 3, 2010 - 4:45 p.m. ET) Canada’s leadership in weathering the global economic downturn is being recognized around the world, said the Honourable Peter Van Loan, Minister of International Trade. During a four-day trade visit to China, Minister Van Loan promoted Canada’s economic success story to government and business leaders, highlighting Canada as a world-class destination for investment.

“With one of the most successful and innovative economies in the world, Canada offers many advantages as an investment destination and business partner,” said Minister Van Loan. “Chinese investors are enthusiastic about Canada’s success story and see our country as a hub of opportunity and as a dynamic business partner.”

During his visit to China, Minister Van Loan met with Gang Wan, China’s Minister of Science and Technology, and with Xiuhong Ma, the Vice Minister of Commerce. The ministers discussed how Canada and China can work closer together to create more opportunities and new sources of prosperity for both countries. Minister Van Loan also met with Han Zheng, Mayor of Shanghai, and with Shao Qiwei, Chairman of the China National Tourism Administration.

While in Shanghai, Minister Van Loan announced Invest in Canada Week to attract foreign investment. Invest in Canada Week will take place at the Canada Pavilion in October, during the Expo 2010 Shanghai China world’s fair. The Minister also highlighted the growing economic and trade partnership between the two countries to Chinese investors.

Canada’s popularity in China was on full display at the Canada Pavilion. On June 2, 2010, Minister Van Loan and the Honourable Jim Flaherty, Minister of Finance, welcomed the one-millionth visitor to the Pavilion, which is now one of the most popular attractions at Expo 2010.

At the Pavilion, Minister Van Loan also witnessed the signing of contracts between Canadian and Chinese companies in fibre optics, green technology, architecture and state-of-the-art entertainment.

“Chinese and Canadian companies have a great deal to offer each other,” said Minister Van Loan. “With among the most generous research and development tax credits in the G-7, Canada is one of the best locations in the world to pursue sophisticated, cost-effective science and technology partnerships.”

Minister Van Loan concluded the Shanghai portion of his visit by delivering a keynote address to the Asia-Pacific Canadian Chambers of Commerce Forum, one of the largest Canadian business events in the Asia-Pacific region.

“Canada’s competitive advantages, excellence, depth of talent, innovation and creativity offer a great environment to potential investors from around the globe,” said Minister Van Loan. He added that Canada’s investment climate offers everything from low taxes and solid economic growth to the world’s soundest banking system and a high quality of life.

Minister Van Loan will now travel to Japan for the Asia-Pacific Economic Cooperation meeting of trade ministers.

For more details, please visit Minister Van Loan visits Asia.

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For further information, media representatives may contact:

Monika Bujalska
Press Secretary
Office of the Honourable Peter Van Loan
Minister of International Trade
613-992-9304

Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000