Premier Christy Clark announced a new trade and investment office will be opened in Hong Kong to increase British Columbia's economic ties with the global financial centre.

"British Columbia is Canada's Gateway to the Pacific, and we look forward to building on our already strong business and cultural connections with Hong Kong," said Premier Clark. "China is British Columbia's second-largest trading partner and is a vital and growing market for our products, services and resources, particularly natural gas."

A trade and investment representative (TIR) will be in place in the new Hong Kong office by mid-November and will be focused on attracting investment from the financial centre.

The trade and investment representative will:

• Provide immediate local market knowledge, access to large networks of key influencers within government and industry.
• Provide language and business cultural skills to attract investment.
• Connect B.C. businesses with new markets and opportunities.

British Columbia's Hong Kong representative will work in conjunction with B.C.'s trade and investment representatives in Shanghai, Beijing and Guangzhou.

The Hong Kong financial sector is a key investor in a range of economic activities in British Columbia such as real estate and natural gas. Last year, Hong Kong overtook the United States and the United Kingdom to top the World Economic Forum's Financial Development Report, becoming the first Asian financial centre to achieve this rank. Hong Kong's rise has been tied to financial services such as initial-public-offering activity and insurance, making it the world's 10th-largest trading economy. Its most significant trading partner is mainland China.

The office opening was announced at a Friends of BC luncheon in Hong Kong today as part of the Premier's first official visit to the city. One in 13 households in Hong Kong includes a Canadian citizen, many of whom have close ties to British Columbia.

A key pillar of Canada Starts Here: The BC Jobs Plan is the opening and expanding of markets for the province's goods and services across Asia and the attraction of investment to grow B.C.'s eight priority sectors and spur domestic job growth. To support this strategy, British Columbia will double its international presence by March 2013, accelerating direct investment attraction by marketing the province's competitive advantages and world-class business environment.

Quick Facts:

• According to a 2011 survey by Asia Pacific Foundation of Canada, Hong Kong is Asia's most Canadian city. There is one Canadian citizen in every 13 households in Hong Kong, and 82 per cent of them said they last lived in British Columbia or Ontario.
• British Columbia currently has international trade and investment representatives (TIRs) under contract in nine locations: Asia (Tokyo, Japan; Bangalore, India; Seoul, South Korea; and Beijing, Shanghai and Guongzhou, China); Europe (UK and Germany); and one in the United States (California).
• The trade and investment representatives have played a key, on-the-ground role in Premier Clark's trade missions, building on the momentum of the first Jobs and Trade Mission to China and India in November 2011 and the second mission to Japan, Korea and the Philippines this past May.
• B.C. will be adding new offices in Mumbai and Chandigarh in India by mid-November.
• The Province's TIR offices, as part of the International Education Strategy, will have dedicated education marketing resources to promote B.C. as a prime destination for international students.

Learn More:

Go to www.BritishColumbia.ca to find out about the Province's international trade and investment representative offices around the world.

Media Contact:

Ministry of Jobs, Tourism and Skills Training
250 356-8177