Close Canada-China economic ties will benefit both countries
October 12, 2011
The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, met today with his Chinese counterpart, Minister of Commerce Chen Deming, to review the current state of bilateral business relations and to discuss strategies for strengthening trade and investment between Canada and China. The two ministers agreed that a closer and deeper economic relationship between Canada and China would benefit both countries. They emphasized that while bilateral trade is expanding well, even more could be done to diversify the countries’ trade relationship and to increase bilateral investment and business success. To this end, they agreed to direct officials to intensify negotiations on a bilateral foreign investment promotion and protection agreement. They also agreed to examine further ways to remove impediments to enhanced two-way trade. The two ministers also discussed the importance of, and significant prospects for, deepening the countries’ economic partnership and enhancing their cooperation in civil aerospace, energy, financial services, education and research, advanced manufacturing and high-tech industries. They also exchanged views on strengthening engagement in leading-edge commercial innovation and clean technology. In addition, Minister Fast promoted access to the Chinese market for Canadian seal products.
The two ministers discussed a range of ongoing market-access issues, with Minister Fast underscoring the importance of stable and expanded access to the Chinese market for Canadian beef and canola.
This is the fifth day of Minister Fast’s eight-day visit to China. The visit is targeting the political capital, Beijing, financial centre Shanghai and the dynamic regional economic centres of Guangzhou, Shenzhen, Suzhou, Kunshan and Qingdao. China is Canada’s second-largest trading partner and a key priority market in Canada’s Global Commerce Strategy.
For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway
Trade Media Relations Office
Foreign Affairs and International Trade Canada
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