Asia Pacific Trade Report Outlines Opportunities

By 250 News

        
The Asia Pacific Trade Council report released today calls on Federal , Provincial governments and Industry to continue their support to develop the wood market in China and Hong Kong.

The report released today says to develop new markets, China will be a long term venture that will require long term funding from industry and both levels of government. The report points out that a BC office was established in 1986, closed in 1989 when a trade development corporation was opened and scaled down over the last ten years. In 2003 the Forest marketing agency was opened and exists today.

The report sees the increasing demand for BC’s mining resources. The minerals that the Chinese are seeking are gold, copper, coal and other minerals in high demand for their growing economy.

The tourism industry which is expected to grow by about 300% over the next ten years, is an area largely untapped says the report. The report says Canada does not have approved destination status and that must be changed in order for Canada to capitalize on the growing middle class of China.

The report says that Canada is well positioned given the fact that our airports and sea ports are the closest to China and we must take advantage of that fact

Citing the Chinese government's wish that Chinese companies go international, the Asia Pacific Trade Council report notes Chinese companies have begun to invest in companies such as IBM, Unocal, Noranda and Maytag.

The Trade Council says more attention should be paid to investment in BC resources. The report also calls on government to support the combined BC port system so that rather than competing with each other, all BC ports will be working to attract business.

They also call on the province to upgrade the Inland Transportation system to help the province and Canada compete for Chinese cargo in the North American continent. That can be assisted in part, the report says, by improving the supply of longshoremen in the transportation industry.

Attempting to attract foreign students will be a difficult task according to the Asian Pacific report. Tough market conditions continue to exist in trying to attract Chinese students. Those conditions include: the expansion of ESL in China, an increase in the number of universities in China, price resistance and stiff competition from the UK, Australia, New Zealand, Quebec and Ontario. Slow visa and work permits are also contributing factors.

The report also calls for the establishment of Vancouver as the Asia pacific hub, a place where people, resources, networks and events come together.

China, they say, is the 5th largest economy in the world, bigger than Italy, bigger than France and nearly the size of Britain.
Chinese total trade could double in the next three years, while BC exports are expected to double in 4 to 5 years and imports will double in 2 to 3 years.

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