Canadian Manufacturers & Exporters

Canadian Manufacturers & Exporters

February 15, 2012 18:12 ET

Strengthened Canada-China Partnership Will Make a Difference for Canadian Exporters: CME

OTTAWA, ONTARIO--(Marketwire - Feb. 15, 2012) - Canadian Manufacturers & Exporters (CME), Canada's largest trade and industry association, welcomes the signing of a series of bilateral initiatives between Canada and China witnessed earlier today by Prime Minister Harper and Chinese Premier Wen Jiabao.

"These agreements strengthen Canada's position as a strategic partner to China, advance our commercial interests with our second largest trading partner, and will deliver expanded access to China's market for Canadian exporters," says CME President & CEO, Jayson Myers. "The cooperation initiatives announced in the areas of energy, natural resources, and agriculture address key issues we have raised on behalf of Canadian manufacturers and exporters, and will make a difference for Canadian companies looking to grow their business with China."

In addition, the implementation of a Canada-China Foreign Investment Promotion and Protection Agreement (FIPA) is expected to improve the treatment of investment by providing investors greater certainty and predictability.
The Canada-China Memorandum of Understanding (MOU) on Energy Cooperation, meanwhile, enables new cooperation in critical areas such as nuclear energy, oil and gas, and renewable energy, and will help Canadian businesses grow their exports of energy products and technologies.

The new protocol on beef tallow will provide immediate market access for Canadian exporters - assuming the agreement completely re-opens this market. This could translate into more than $100 million in increased beef tallow exports to China.

The MOU on joint canola research should also help demonstrate that Canadian canola oil poses little to no risk to Chinese canola production, and thereby lead to China's elimination of its blackleg import restrictions introduced in 2009, which led to a 47 per cent reduction in Canadian canola exports to China.

"These are practical, incremental steps that not only deal with business issues, but also build trust and will lead to greater cooperation between business and government leaders in both countries," says Myers. "Today's announcements show that the Prime Minister's leadership in providing economic diplomacy for Canadian companies does make a difference for manufacturers and exporters looking to take advantage of growing opportunities in China.

"We also look forward to the Prime Minister continuing to engage China's leaders on key issues, such as ensuring reciprocal market access, fair currency valuation, reciprocal treatment of investment, improved enforcement of intellectual property rights, promoting Canada as an investment destination, and making progress on a Canada-Hong Kong double taxation agreement."

About CME

Canadian Manufacturers & Exporters (CME) is Canada's largest trade and industry association, and the voice of manufacturing and global business in Canada.

Since 1871, we have made a difference for Canada's manufacturing and exporting communities. Fighting for their future. Saving them money. Helping them grow.

The association represents more than 10,000 leading companies nationwide. More than 85 per cent of CME's members are small and medium-sized enterprises. As Canada's leading business network, CME - through various initiatives including the establishment of the Canadian Manufacturing Coalition - touches more than 100,000 companies from coast to coast, engaged in manufacturing, global business and service-related industries.

CME's membership network accounts for an estimated 82 per cent of Canadian manufacturing production and 90 per cent of all exports.

Contact Information

  • Derek Lothian
    Manager, National Communications
    Canadian Manufacturers & Exporters
    Tel: 613-296-2156