Office of the Premier
British Columbia plans to join forces with Canada's two other westernmost provinces to offer a business accelerator program in China aimed at helping companies expand into and sell their products and services in the country, Premier Christy Clark announced.
Latest photos of the BC Jobs and Trade Mission (flic.kr)
"As part of the BC Jobs and Trade Mission our goal is to strengthen existing relationships and open new doors - setting the stage to create jobs in B.C.," Premier Christy Clark said. "The face-to-face assistance British Columbia businesses will get from this service will help a company accelerate its growth more quickly into the market."
Premier Clark announced the plan to offer the new business service in Shanghai on the fourth day of the BC Jobs and Trade Mission while she was promoting Western Canada as a preferred destination for investment to senior Chinese executives.
The accelerator program will operate out of the New West Partnership's trade and investment office in Shanghai. Companies will be able to use physical space to conduct business and they will be provided with local business connections and development advice from the established trade and investment team. The accelerator program is expected to be up-and-running in 2012.
When the Shanghai service begins operation, it will be the third international business accelerator available to British Columbia businesses with others operating in Silicon Valley, California and Bangalore, India.
"We are excited to be starting the Business Accelerator in Shanghai as it will give B.C., Alberta and Saskatchewan companies a competitive edge over competitors vying to do business in the world's most dynamic market," said John McDonald, managing director, B.C. Trade and Investment Office Shanghai.
In 2010 British Columbia, Alberta and Saskatchewan formed the New West Partnership as a mechanism to highlight Western Canada as a preferred destination for investment in natural resources, energy, agriculture, and transportation. The combined GDP of the New West Partnership surpasses that of all but about 20 countries in the world. The New West Partnership also strengthens Western Canada's international reach with enhanced co-operation on overseas trade missions and on sharing foreign market intelligence.
As part of the BC Jobs Plan, Premier Christy Clark is leading the largest trade mission in the province's history to promote B.C. as a safe harbour for investment. The BC Jobs and Trade Mission is focused on strengthening existing relationships between B.C. and Asian markets, opening doors for new relationships and setting the stage for future opportunities in China and India. Delegates from more than 130 companies and organizations are accompanying the Premier as part of the effort to defend and create jobs here at home. Health Minister Mike de Jong will also be accompanying the Premier during her time in India.
Japan and Hong Kong are also on the jobs and trade mission itinerary. Forests Minister Steve Thomson will travel to Japan and Minister Pat Bell, Jobs, Tourism and Innovation, ends his part of the mission in Hong Kong.
Quick Facts:
The Shanghai accelerator program will provide B.C., Alberta and Saskatchewan companies a range of facilities and services including:
- Dedicated office space with meeting rooms
- Telephone, wireless internet, and office support
- Finance and banking guidance
- Banking guidance
- Help finding affordable local longer-term accommodation
- Matchmaking with potential partners, distributors, strategic partners, JVs, etc.
- Cross cultural and negotiation assistance
- Finding/selecting low-cost local suppliers for products and services
- China market-entry strategies advice
- Advice on local communication and branding best practices
- Strategic business plan advice
Learn More:
A backgrounder follows.
Contacts:
Marisa Adair
Communications Director
Ministry of Jobs, Tourism and Innovation
250 431-7316
Marisa.Adair@gov.bc.ca
Carolyn Heiman
Communications Manager
Minister of Jobs, Tourism and Innovation
250 387-2799
BACKGROUNDER
Nov. 8, 2011 Office of the Premier
Ministry of Jobs, Tourism and Innovation
New West Partnership
- The New West Partnership builds on B.C.'s groundbreaking Trade, Investment and Labour Mobility Agreement (TILMA) with Alberta and has created an economic alliance of more than 9.3 million people with a combined GDP of $495 billion.
- The New West Partnership removes barriers to trade, investment and labour mobility; and enhances Western Canada's economic competitiveness.
- As with TILMA, workers will have their credentials recognized in all three provinces while businesses need only to register in one province, file only one annual report, and will be able to bid on government contracts in all three provinces.
- The New West Partnership has four components, which came into full effect for B.C. and Alberta on July 1, 2010 and is phased in to July 1, 2013 for Saskatchewan.
- One - a comprehensive trade agreement which removes remaining barriers to trade, investment and labour mobility, further enhancing the competitiveness of Canada's West.
- Two - a procurement agreement that enables the provinces to capitalize on their combined buying power through the joint procurement of goods and services, saving taxpayer money. - On April 20, 2011, it was announced the partners are working to expand B.C.'s model of centralized health care purchasing across the three provinces to create greater combined savings from to the New West Partnership's larger purchasing power.
- Three - an international co-operation agreement on trade and investment missions to international markets and sharing of foreign market intelligence to advance joint interests and increase business competitiveness. - Already joint trade missions to Asia have taken place under the New West Partnership banner; and an MOU was signed to promote the West's energy sector, which includes a strategy to target opportunities in Asia.
- Four - an innovation agreement which enables provincial innovation efforts to be co-ordinated to better attract investment and talent, helping build critical mass of innovation activities in Western Canada.
- The New West Partnership Trade Agreement Implementation Act was passed in June 2011 and it will ensure that B.C. has the statutory authority to meet its obligations and exercise its rights under the New West Partnership Trade Agreement.
- The act provides statutory certainty on dispute resolution provisions, ensuring awards and costs are enforced, and it amends provisions in the College of Applied Biology Act to ensure the Council of the College of Applied Biology complies with the labour mobility provisions.
Contacts:
Marisa Adair
Communications Director
Ministry of Jobs, Tourism and Innovation
250 431-7316
Marisa.Adair@gov.bc.ca
Carolyn Heiman
Communications Manager
Minister of Jobs, Tourism and Innovation
250 387-2799
