VICTORIA - A new agreement between British Columbia 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 the chairman of the Shanghai Municipal Commission of Economy and Informatization (SMCEI) Mr. LI Yaoxin today signed a 2015 joint action plan between the two regions that builds on the minister's 2013 trade mission to China.

During that same trade 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. It included 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 in December 2014.

In June 2014, B.C. special representative to Asia, Ben Stewart signed the first action plan under the MOU when he visited Shanghai as part of his East China outreach.

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 dialogues 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.

The Shanghai office opened in 2007 to represent British Columbia in China's main financial centre. Shanghai is a key global influencer in commerce, culture, finance, media, fashion, technology and transport.

Quote:

Minister of International Trade Teresa Wat

"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."

Quick Facts:

• The B.C. Trade and Investment Representative offices located in strategic locations around the world play a key, on-the-ground role in provincial trade relationships. Delegations and business representatives travelling between B.C. and Southeast Asia to take part in conferences, trade shows and meetings drive global business and cement partnerships. .
• Since the BC Jobs Plan was released in September of 2011, British Columbia's international network has more than doubled to 64 people based in priority markets across Asia, Europe and the United States.

Learn More:

For more information about B.C. trade and investment opportunities visit: http://www.britishcolumbia.ca/

2015 Hydrogen and Fuel Cell Conference: http://www.hfc2015.com/

SIGGRAPH 2014 Conference: http://s2014.siggraph.org/

Learn more about the BC Jobs Plan at: www.bcjobsplan.ca

Media Contacts:

Media Relations
Ministry of International Trade
250 356-7293