Canada seeks to enhance economic, trade cooperation with China

Source: inhua | 05-12-2009 20:20

BEIJING, May 12 (Xinhua) -- Canada is willing to enhance economic and trade cooperation with China so as to jointly tackle the global financial crisis, the visiting Canadian Foreign Minister Lawrence Cannon said here on Tuesday.

Facing the global challenges of common concern is also an opportunity for Canada and China to work together, Cannon noted in giving a speech at China Foreign Affairs University on Tuesday.

The economic downturn have hit the two countries hard, said Cannon, stressing that it is important for them to work together to address the immediate global economic problems and turn the attention to the rules and institutions that underpin the financial system.

"We can increase our cooperation, and share our experience in this crucial sector."

When talking about the trade protectionism, he said, "Canada and China both realize that now is not the time for protectionism, a short-term temptation that we know from past experience leads to long-term damage. We must work together to ensure that markets remain open and that the gains from globalization are not reserved."

The foreign minister said a key area interest is trade and investment, adding that "there is no question that the good health of Canada's trade relationship with China is vital for our prosperity."

During his China tour this April, Canadian International Trade Minister Stockwell Day launched Canadian trade offices in Chengdu and Shenzhen to help their companies gain access to one of the world's fastest-growing economies. An additional four trade offices -- in Nanjing, Qingdao, Shenyang and Wuhan -- are expected to open before the end of the year.

"I hope that the success of his visit is just an early step towards greater bilateral economic cooperation," said Cannon.

The volume of bilateral trade between China and Canada reached 34.52 billion U.S. dollars in 2008, an increase of 13.8 percent year-on-year according to statistics from China's General Administration of Customs.

Cannon is paying an official visit to China from May 9 to 13 at the invitation of his Chinese counterpart Yang Jiechi.

Editor:Zhang Pengfei