Yan­tai signs ma­jor deal with Al­berta

China Daily (Canada) - - FRONT PAGE - By CHINA DAILY

The city of Yan­tai in East China’s Shan­dong province has signed a se­ries of agree­ments to ex­pand eco­nomic ties with Canada’s Al­berta province.

The sign­ing took place on Nov 26 in Yan­tai at a two-day sem­i­nar on eco­nomic and trade co­op­er­a­tion spon­sored by the com­merce bureau of Yan­tai and Al­berta’s min­istry of eco­nomic devel­op­ment and trade. It was at­tended by some 320 govern­ment of­fi­cials and busi­ness lead­ers from the two sides.

Eigh­teen pro­to­cols of in­tent were signed be­tween Yan­tai and the wealthy Cana­dian province dur­ing the sem­i­nar, cov­er­ing ar­eas that in­cluded chem­i­cals, pharmaceuticals, en­ergy, en­vi­ron­men­tal pro­tec­tion and food.

Deron Bilous, Al­berta’s min­is­ter of eco­nomic devel­op­ment and trade, said his re­gion con­sid­ers Yan­tai to be an im­por­tant mar­ket.

“Al­berta and Shan­dong province have a good record of in­vest­ment and trade, and Al­berta is par­tic­u­larly ex­pect­ing to ex­pand co­op­er­a­tion with Yan­tai in the in­dus­tries of oil, gas and the devel­op­ment of re­new­able en­ergy re­sources,” Bilous said at the open­ing cer­e­mony of the sem­i­nar on Nov 26.

Ac­cord­ing to an of­fi­cial from Yan­tai’s com­merce bureau, the city al­ready has es­tab­lished close eco­nomic re­la­tions with Canada, and Yan­tai is ex­pect­ing to fur­ther ad­vance its co­op­er­a­tion with Al­berta in par­tic­u­lar.

“The co­op­er­a­tion with Al­berta is of mu­tual ben­e­fit,” the com­merce of­fi­cial said.

Canada had in­vested in 289 projects in Yan­tai as of the end of Oc­to­ber, with the com­bined value of the con­tracts worth 7.38 bil­lion yuan ($1.08 bil­lion), ac­cord­ing to the Yan­tai com­merce bureau.

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