In what seems like movement to a closer relationship between Canada and China, China’s President Hu Jintau arrived in Ottawa ahead of the G20 summit in Toronto and got to work signing deals that will hopefully improve the trading, tourism and economic relationship between the two countries; and in effect be advantageous to Canadian firms.
One of the most important things accomplished is the signing of a co-operative agreement whereby China will again begin to import Canadian beef and beef products. The opening of the Chinese market is estimated, in an article from the Toronto Sun, to be worth $100 million to Canada’s farmers. China banned Canadian beef in 2003 after the first Canadian case of mad cow disease (Bovine Spongiform Encephalopathy – BSE) was discovered.
Another important move stemming from the visit is that China will allow its tourists to visit Canada more freely. Presently, Chinese tourists were only allowed to travel to countries with approved destination status (ADS). ADS was previously not applied to Canada, but will now be. The Toronto Sun further comments that ADS was first discussed in 2005 by the then Canadian Prime Minister Paul Martin.
There were other deals signed as well, touching on fighting crime and setting up a working group on environmental protection and energy.
To read more about the Canada-China relationship and the G20 summit you can also read this article by the Globe and Mail and also view this YouTube video Harper Says China Move May Temper Canada Dollar Rise from Bloomberg.
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