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TBG in the News

Jan 15, 2007

Federal ministers in China to improve relations, CBC News,

The Canadian business community in China is hoping a visit by two federal ministers will promote closer ties between the two countries.

A trip to China by Minister of International Trade David Emerson began Sunday and extends through Jan. 19 with stops planned for Hong Kong, Beijing and Shanghai. Emerson will also be joined by Finance Minister Jim Flaherty.

Howard Balloch, who was Canada's ambassador to China from 1996 to 2001, said the Conservative government has been slow to join the rush to China.

"There was a reluctance to engage China too quickly," said Balloch, who now heads up the Balloch Group, a Beijing-based company that offers investment advice to foreign and Chinese businesses.

He said Canada simply can't afford to ignore China.

"Relationships here are very important, and Canadian businesses here know that," Balloch said. "If you don't make and sustain contacts, you're not going to win the game."

Emerson is expected to sign a science and technology agreement, showcasing Canadian expertise in certain strategic sectors and promoting Canada as the best gateway between Asia and North America.

According to the Department of International Trade, China is Canada's second-largest trading partner, second only to the United States, with bilateral trade reaching $36.6 billion in merchandise in 2005.

In 2005, Canadian exports to China grew by 6.7 per cent, reaching $7.1 billion, while imports from China reached $29.5 billion, an increase of 22.5 per cent compared with 2004.

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