Agreement Strengthens Ties Between British Columbia and Shanghai

Agreement Strengthens Ties Between British Columbia and Shanghai

January 15, 2015 Posted by Mary Meldrum

MOU between B.C. and Shanghai will focus on facilitating commercial partnerships between the jurisdictions

A January 2015 agreement between British Columbia, Canada and Shanghai, China, will encourage participation in major trade conferences in both B.C. and Shanghai with the goal of advancing economic partnerships between both regions.

B.C.'s Minister of International Trade Teresa Wat and chairman of the Shanghai Municipal Commission of Economy and Informatization (SMCEI) Mr. Li Yaoxin signed a joint action plan between the two regions that builds on the minister's 2013 trade mission to China. "This agreement paves the way for increased trade and investment ties in key sectors in China. My role, and the role of my ministry, is to grow B.C.'s economy using international opportunities. We do this through a highly-developed service network that helps international investors find opportunities in B.C., assists B.C. companies to expand by doing business overseas, and markets the province's strengths as a place to invest," said Minister Wat.

During the Minister’s 2013 mission, a Memorandum of Understanding (MOU) was signed between the Ministry of International Trade and the SMCEI. This resulted in numerous business delegations from Shanghai travelling to B.C. to investigate trade and investment partnership opportunities, including a delegation of Shanghai digital media companies to attend the August 2014 SIGGRAPH conference, and a SMCEI-led visit to B.C. by leading Shanghai companies which took place in December 2014.

The 2015 action plan will focus on facilitating commercial partnerships between B.C. and Shanghai businesses in the technology sector. In particular, the action plan will promote Shanghai business participation in the 2015 Hydrogen and Fuel Cell Conference taking place in Vancouver from April 27-28, 2015.

In addition, the agreement formalizes regular dialogue between the B.C. Trade and Investment Office in Shanghai and the SMCEI with the purpose of identifying and advancing trade and investment opportunities for both jurisdictions.

Trade and Investment Representative offices located in strategic locations around the world play a key, on-the-ground role in B.C.'s trade relationships. Delegations and business representatives travelling between B.C. and key markets to take part in conferences, trade shows and meetings drive global business and cement partnerships. 
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