Team Canada Trade Mission - Hong Kong and China a) The motivation for the trade mission to China is quite simple. The Canadian government wants to do business. In 1999, Canadian two-way trade with China was worth $11. 5 billion. Canadian two-way trade with Hong Kong equalled $2. 4 billion during 1999.
The numbers tell the story. China is Canada's fourth-largest trading partner after the United States, Japan and the United Kingdom. The Department of Foreign Affairs and International Trade says that China, with a population of nearly 1. 3 billion people and a Gross Domestic Product of close to $1 trillion US, has become the seventh-largest economy in the world.
Hong Kong isn't far behind. Foreign Affairs figures say there was $5. 3 billion in two-way direct investment flowing between Canada and Hong Kong in 1998. That makes Hong Kong the eighth most important foreign source of investment to Canada.
In other words, a good relationship with China and Hong Kong is good business for Canada. b) o Agriculture and agri-food: Canada wants greater market penetration for packaged foods and beverages. o Energy: the government says there are opportunities for Canadians who want to sell or service equipment for electric power transmission and oil and gas exploration. o Environmental technology: Foreign Affairs diplomatically notes "China has a serious problem with environmental degradation." So Canadian businesses want to sell China services and technologies to decrease air pollution and improve water treatment, and that help in the handling and disposal of solid and hazardous waste. o Financial services: Canada sees opportunities in banking, life insurance and mutual fund development, especially in Hong Kong. o Forestry, construction, building material products and services.
o Transportation: Team Canada will look to sell products and services to develop airports, highways, urban transportation and railways. c) o Representatives from the Canadian company Twisted Air Technologies are going to promote Information and communications technologies. o The Canadian company SNC-Laval in are sending associated to promote and sell mining materials produced in Canada. o The Placer Dome Company in Quebec City is traveling to raise awareness and encourage the growing field of education technologies and cultural industries.