Diversifying export markets and expanding B.C.’s trade network into new frontiers was the focus of International Trade Minister Teresa Wat’s recent 12-day trade mission to China and Indonesia.

This spring trade mission broke new ground - it marked the first trip to Indonesia and the Association of Southeast Asian Nations (ASEAN) market by a B.C. trade minister, and it continued B.C.’s work to expand trade with China’s second-tier cities.  

B.C. already has longstanding, dependable trade relationships with Guangdong and China’s major cities - Beijing, Shanghai, Shenzhen and Hong Kong, resulting in annual trade in the hundreds of millions of dollars.

Turning attention to China’s second-tier cities is a natural progression in the Province’s trade relationship with China. Wat visited Hangzhou, the capital of Zhejiang Province, and Nanjing, the capital of Jiangsu Province, two second-tier cities that have a great deal of potential for co-operation on trade and investment opportunities with B.C.

Key developments in B.C. relationships with these two cities took place on the trade mission, with a letter of intent (LOI) signed between Zhejiang Province and B.C. on economic co-operation, and a memorandum of understanding (MOU) signed between B.C. and the Jiangsu Economic Informatization Technology Commission to co-operate on identifying opportunities for investment in the technology sector.

B.C. is counting on these new relationships to result in successes similar to those that have taken place with Guangdong Province, which includes the opening of a Guangdong Economic Trade and Representative Office in Vancouver.

In Indonesia, Wat explored opportunities in the ASEAN market, one of the fastest-growing economies in the world. According to McKinsey & Company, if ASEAN were a single country, it would already be the world’s seventh-largest economy, with a combined GDP of $2.4 trillion in 2013, and projected to rank as the fourth-largest economy by 2050.

Wat focused on learning more about the challenges and opportunities that B.C. and Canadian companies experience in Indonesia. She also met with large conglomerates, such as Sinar Mas and Salim Group to discuss their overseas investment interests, including in B.C.

Jakarta, Indonesia is the headquarters of ASEAN, a key market identified in the BC Jobs Plan. Together, ASEAN markets rank fifth among destinations for B.C. goods exports.

This trade mission was also an opportunity to promote the new $6.6-million HQ Vancouver project, which aims to attract five new international head offices to B.C. by 2020. For example, Wat met with representatives from corporate giants Poly Culture and China Fibre Optic to discuss the project and encourage them to consider locating their North American head office in Vancouver.

Trade missions are a critical part of British Columbia’s strategy to diversify its international trading partners and secure new investment, propelling economic activity and job creation throughout the province.

Quotes:

Minister of International Trade Teresa Wat -

“This trade mission broke new ground by starting new relationships with parts of China we haven’t been before. The provinces of Zhejiang and Jiangsu have the potential of opening new business opportunities similar to Guangdong Province where we have strong ties and continue to maintain those connections.

Significantly, we are beginning to explore opportunities in the ASEAN market, one of the fastest growing economies in the world. This trade mission allowed me to meet face-to-face with key government officials and business representatives to learn more about the challenges and opportunities of that market, and how we can help B.C. companies be successful there.”

Learn More:

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

For photos from the trade mission, visit: https://www.flickr.com/photos/bcgovphotos/sets/72157634051576760/

BC Jobs Plan: http://engage.gov.bc.ca/bcjobsplan/

A backgrounder follows.

Media Contacts:

Media Relations
Ministry of International Trade
250 356-9801

BACKGROUNDER

Highlights from China and Indonesia

China and Hong Kong, March 27-April 6 and April 9:

• Minister of International Trade Teresa Wat witnessed the signing of a letter of intent (LOI) with the Zhejiang Department of Commerce that is focused on exploring the potential for advancing mutual benefits from increased trade and investment between British Columbia and Zhejiang Province.
• In Nanjing, Jiangsu, Wat signed a memorandum of understanding (MOU) with the Jiangsu Economic Informatization Technology Commission to expand two-way economic collaboration promotion between the two jurisdictions.
• Meetings took place in Nanjing and Shenzhen with leading technology and life sciences companies to open doors for B.C. companies doing business in this sector, such as Huawei Joinstar, Poly Culture, Overseas Chinese Town (OCT) Group and BGI. B.C. ICT companies that are active in the Shenzhen market include Fireswirl, Sierra Wireless, Clevest, Epic Data, Neverblue, Incognito and Avigilon. Fireswirl has a branch office in Shenzhen, and Sierra set up a research and sales team there.
• In Shenzhen, Wat held a bilateral meeting with the Shenzhen Economic, Trade and Information Commission to further develop the trade and investment relationship between B.C. and Shenzhen.
• Wat toured Nanjing Software Valley, one of the largest telecommunications and software research and development centres in China, and held a seminar in Nanjing that brought together Chinese and B.C. tech companies to network and identify areas of possible co-operation.
• In Hong Kong, Wat met with representatives from the China Fiber Optic Group, which has a B.C. subsidiary, F-Pacific. During their discussion, she encouraged them to expand their B.C. operations and consider establishing a corporate office in the province.

Jakarta, April 7-8:

• Wat and Canadian Ambassador to Indonesia, Donald Bobiash, held a roundtable with Canadian business leaders active in Indonesia to discuss opportunities and challenges of doing business there. The participants highlighted the tremendous trade and investment opportunities for Canada across the ASEAN region and in Indonesia in particular. Wat pledged increased support for B.C. companies working in the area.
• Wat met with Indonesian energy company Pertamina representatives to update them on opportunities related to B.C.'s LNG industry and invited them to attend the LNG Conference in B.C. in October 2015.
• Wat met with Anthoni Salim, president and CEO of Salim Group, one of Indonesia’s largest conglomerates. Salim Group, which imports Saskatchewan wheat through the Port of Vancouver, is exploring new business opportunities in North America. Wat encouraged the company to consider B.C. as its gateway to the North American Free Trade Agreement market.
• Wat toured the Pindo Deli Pulp and Paper Mill owned by Asia Pulp and Paper and met with executives of Paper Excellence Group and Sinar Mas Group to discuss additional investment opportunities in B.C. Paper Excellence operates four pulp mills in British Columbia and in 2013, moved its headquarters from Europe to Richmond.
• Wat attended a reception at the Canadian Ambassador's Official Residence to celebrate Hatfield Consultants’ 25th anniversary of doing business in Indonesia. Hatfield Consultants is a North Vancouver-based environmental consulting company with offices in Asia, South America and Africa. With its focus on building partnerships, improving local capacity and perseverance, Wat highlighted Hatfield as example to all B.C. companies breaking into new markets.

Media Contacts:

Media Relations
Ministry of International Trade
250 356-9801