Canada, China to Explore Potential for Trade Deal, Officials Say

In Ottawa last week, Canadian Prime Minister Justin Trudeau told reporters that his country will commence “exploratory talks” as a first step towards potentially negotiating a free trade agreement, following a meeting with Chinese Premier Li Keqiang. The decision was made “in acknowledgement of the interconnected nature of the two economies and the untapped potential of the Canada-China economic and commercial relationship,” said the two sides in a joint statement issued on 23 September. The announcement was paired with a new goal to double bilateral trade between the two nations by 2025, relative to 2015 statistics, as well as the launch of the Canada-China Economic Strategic Dialogue. Trudeau said that the latter will serve as a forum to “guide the economic relationships” between China and Canada. A report commissioned by the Canadian Council of Chief Executives (CCCE) and the Canada-China Business Council (CCBC) suggests that deeper trade ties could potentially yield up to 25,000 new Canadian jobs, helping to drive up the volume of investment and exports, culminating in C$7.8 billion (US$5.9 billion) in additional economic activity in Canada in a timeframe of 15 years. The 2015 figure for Canadian exports to China exceeded C$20 billion (US$15.1 billion), where Canadian...