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Soho Resources Corp V.SOH



TSXV:SOH - Post by User

Post by mattbighamon Apr 12, 2009 4:16am
180 Views
Post# 15911825

Stockwell in China/Zhang in Canada? When?

Stockwell in China/Zhang in Canada? When?TYPE

Trade Minister Stockwell Day begins seven-day visit to China

4/11/2009 10:24:00 AM | Canadian Press (English)

SHENYANG, China - The global financial and bilateral trade were on the agenda as International Trade Minister Stockwell Day began a seven-day visit to China on Saturday.

"I am here to demonstrate that Canada views China as a key economic partner," the minister said in an emailed statement.

Day is visiting the world's third-largest economy to help drum up business for Canadian companies and workers.

Canadian exports to China totalled $10.4 billion in 2008, up 9.1 per cent from the previous year. Day - and representatives of the 16 companies and organizations that are with him on this trip - are hoping this visit will help to ramp that up.

Day met with the Communist party secretary of Liaoning province, Zhang Wenyue, in the city of Shenyang.

The men talked about bilateral collaboration in a number of areas including aerospace, agriculture, education, construction, oil and gas information and communications technologies and pharmaceuticals, Day's spokeswoman said.

Global economic issues and the state of the economies of each country were also discussed, and Day warned of the need to combat protectionism.

"As Prime Minister Harper said at the recent London summit, strengthening international is critical to bringing the world out of this global economic crisis," the minister said in the email. "We must avoid protectionism and look outward to harness the power of international trade and investment."

Despite the economic crisis, the World Bank's report on Asian economies predicts China's economy should expand by 6.5 per cent this year.

But a drop in demand for Chinese goods has thrown at least 20 million people out of work as factories are shuttered. To help fix that, China has launched a US$586-billion stimulus plan to ease reliance on exports by boosting domestic consumption.

Chinese companies sold $42.6 billion worth of merchandise to Canada last year, up 11.3 per cent from 2007. Telecommunications equipment, games, toys and computers were the main goods Canada imported from China.

The minister will also visit Beijing, Chengdu and Shanghai during his trip, meeting with four Chinese cabinet ministers and Communist party officials.

He will also meet with two other Canadian trade delegations that are visiting China, during his stop in Hong Kong on April 16 and 17.

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