Canada strengthens economic relationship with China

Aug. 11, 2009 (China Knowledge) - Canada will continue to maintain stable economic ties with China, said Canadian Finance Minister Jim Flaherty, who is visiting China on a trip from Aug. 8 to Aug. 14.

Canada hopes to have a strong and positive relationship with China, said Flaherty, adding that as part of the ongoing discussions, disagreements on some issues may occur.

China has some concerns about some Chinese residents living in Canada, but these should not stop the overriding goal of strengthening an economic relationship that benefits both countries' peoples, Flaherty said. He added that Canada's dealings with China have been dominated by human rights issues in the past, but that the global economic recession has shifted Canada's focus more toward economic matters.

Flaherty said that because China is Canada's largest trade partner and an emerging market, the two sides should encourage investment cooperation between enterprises and financial institutions. He also promised the Chinese government that Chinese firms will be able to invest in Canada for business purposes with no difficulty. 

Flaherty's visit to China aims not only to strengthen economic ties between the two countries but also to pave the way for a November visit to China by Canadian Prime Minister Stephen Harper.

Canada's exports to China had increased 6.8% as of the end of May this year, while its exports to the U.S. had declined 26%.