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China-Canada trade robust

source: author:time:2008-11-06
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A delegation of Canadian business leaders yesterday signed 20 deals with Chinese counterparts in Beijing promoting cooperation and trumpeted China-Canadian ties amid the global economic slowdown.

The contracts come at a time when China has become the second-largest trading partner of Canada, second only to the United States.

Underscoring the strengthened ties, more than 200 business leaders from Canada and about 400 from China attended the second Canada China Business Forum, which opened in Beijing yesterday.

The latest business agreements cover areas such as airplane systems, international education, renewable energy and the environment.

Peter Kruyt, chairman of the Canada China Business Council, said having solid bilateral ties with China has become increasingly important in coping with global economic turbulence.

In the first Canada China Business Forum held in 2005 during a visit by President Hu Jintao to Canada, the two governments set a target to increase bilateral trade to $30 billion by 2010.

The figure climbed to $30.38 billion last year. It hit $22.74 billion in the first eight months of this year, an increase of 15.1 percent year-on-year, Chinese customs figures showed.

Jayson Myers, President of Canadian Manufacturers & Exporters, Canada's largest industry and trade association, said strong demand in the Chinese domestic market is still attracting Canadian businesses to forge partnerships and explore opportunities.

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