Natural Resources Canada

Natural Resources Canada

July 22, 2013 16:20 ET

Minister Oliver Underlines the Trade Opportunities Between Canada and Korea

South Korea is world's second-largest LNG importer

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 22, 2013) - The Honourable Joe Oliver, Canada's Minister of Natural Resources, today met with leaders of the Korean business community in Vancouver. The Minister reinforced the importance of the shared benefits for Canada and Korea in increasing trade and market diversification.

"Our government recognizes that exports to South Korea are an important contributor to Canada's prosperity. We have made tremendous progress in trade, investment and scientific innovation," said Minister Oliver. "We are aggressively pursuing agreements with countries in the Asia-Pacific region that permit Canadian businesses to compete in this fastest-growing region of the world."

Minister Oliver reiterated the Harper Government's priority of enhancing international relationships to increase opportunities for Canada's natural resource sectors, including the export of liquefied natural gas (LNG) to South Korea, the world's second-largest importer of LNG. Minister Oliver highlighted that as Canada becomes a major source of liquefied natural gas, the expanding economies of Asia become obvious markets. The Minister also recognized the success of Canadian and South Korean companies and promoted Canada as an ideal destination for further South Korean investment.

"Today, South Korea is Canada's seventh-largest trading partner, with two-way trade of more than $10 billion," said Minister Oliver. "We are strengthening our bilateral strategic relationship to encourage trade, investment and technological innovation in the natural resource sectors."

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