Canada’s Yelich ends trade trip to China
Looking into widening commerce in what they call a ‘priority market’
Canada’s Minister of State for Foreign and Consular Affairs Lynne Yelich ended a five-day trade trip to China, stopping in Hong Kong, Guangzhou and Beijing to discuss Canada’s pro-trade agenda and key trade priorities with government officials.
Yelich was in Hong Kong Special Administ rat ive Region on Feb 23 and 24 before heading to neighboring Guangzhou on and concluded her visit with a twoday trip to Beijing.
“Deepening Canada’s trade and investment with China is key — even more so now that China is our second-largest trading partner and Hong Kong is our sixth-largest,” Yelich said at the end of the trip.
“Whether we are talking about business, education, culture or innovation, with over 1.5 million Canadians of Chinese descent, we value the strong people-to-people ties Canada enjoys with China and Hong Kong (SAR),” she added.
In Hong Kong, speaking to an audience at the Canadian Chamber of Commerce, Yelich said Canada is focusing on expanding trade
pening Canada’s trade and investment with China is key — even more so now that China is our secondlargest trading partner and Hong Kong is our sixth-largest.” LYNNE YELICH CANADA’S MINISTER OF STATE (FOREIGN AND CONSULAR AFFAIRS)
opportunities with the special administrative region, which includes listing the area as a “priority market” in a new Global Markets Action plan.
The international trade plan, released in November 2013, targets Canadian growth in three sets of countries: developed economies, emerging market economies and “emerging markets with specific opportunities.” The plan places special emphasis on helping small and medium-sized companies gain access to emerging markets.
“We understand that Asia’s rise is transforming and rapidly enriching hundreds of millions of lives,” said Yelich at the Canadian Chamber of Commerce event. “And, certainly, Canadian businesses fully understand the market potential here. Hong Kong has long provided a secure, stable and prosperous economic base for scores of Canadian businesses.”
Hong Kong impor ted C$2.465 billion worth of merchandise from Canada, according to latest figures from Export Development Canada, the country’s official export credit agency. Hong Kong received C$7.1 billion in direct investment from Canada, the figures showed.
“We want to ensure that economic growth, job creation and long-term prosperity will be there for Canadians,” Yelich said.
In the first nine months of 2013, Canada exported C$14.2 billion of goods from China, and imported C$38.1 billion, according to figures compiled by independent think tank Asia Pacific Foundation of Canada. Canada has a C$23.8 billion trade deficit with China, the figures showed.
Whi le in Guangzhou on Feb 25, Yelich presided over the signing of a memorandum of understanding (MOU) between two Canadian and two Chinese vaccination research companies that will work together on research and development, manufacturing, and testing of human and veterinary vaccines.
In addition, the four companies — the Vaccine and Infectious Disease Organization – International Vaccine Centre, the Pan-Provincial Vaccine Enterprise, the Guangzhou Development District, and the South China United Vaccine Institute Ltd — will work together on marketing the products.
To conclude the four-day trip in China, Yelich visited Beijing on Feb 26 and 27, promoting Canada- China cooperation in the nuclear energy sector as well as the agriculture industry.
At the Sanyuan Group dairy farm in Beijing, which sources dairy cattle genetics from Canada, Yelich stressed the importance of collaboration between the two countries in the cattle and dairy industries.
China imported C$7.5 million worth of bovine genetics in 2013, which was 20.3 percent increase from the 2012 export amount, according to Canadian government figures.
In a meeting in Beijing with Cao Shudong, vice president of the China National Nuclear Corporation, and representatives of the China General Nuclear Power Group in Guangzhou, Yelich emphasized a mutually beneficial Canada-China nuclear energy relationship, saying that she looked forward to future uranium exports to China from her hometown of Saskatchewan.
Minister of State for Foreign and Consular Affairs Lynne Yelich with children from the Canadian International School of Beijing, where 10 percent of the school’s students are Canadian. Yelich was on a four-day trip to China to promote Canada-China trade, stopping in Hong Kong, Guangzhou, and Beijing.