Canada seeking stronger ties with Asia

Christian Paradis, minister of industry, is travelling to Tokyo and Hong Kong to foster closer commercial and investment ties between Canada and Asia.

“Our government has taken concrete steps to…ensure our companies have the capital they need to grow, innovate and create high-quality jobs for Canadians,” says Paradis.

“Canada truly offers stability to our trading partners and to global investors by providing a sound economic framework, the lowest net debt-to-GDP ratio in the G7, a top credit rating” and a sound banking sector.

Japan is the country’s largest destination for investment in Asia, with measures such as the Canada-Japan Economic Partnership Agreement boosting cooperation.

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Hong Kong is also a major investment partner. The stock of Canadian direct investment in Hong Kong reached $8.14 billion in 2011.

“We continue to welcome foreign investment that is of net benefit to Canada,” adds Paradis. “Foreign investment…introduces new technologies and practices.”

While in Tokyo, the minister will meet with key stakeholders in the manufacturing, and the information and communications technology sectors.

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