Business leaders welcome Carney's China visit, citing trade opportunities

Canadian Prime Minister Mark Carney has begun a visit to China that business leaders say sends a positive signal to companies on both sides, as Canada looks to stabilize and expand ties with its second-largest trading partner.

Carney's visit to China has been welcomed by the business community as a sign of renewed engagement between the two countries, according to Bijan Ahmadi, executive director and chief operating officer of the Canada China Business Council.

"Prime Minister Mark Carney's visit to China is a welcome development for the business community," Ahmadi said, describing the trip as reflecting "the gradual recalibration and revival of Canada-China relations underway since last summer."

Ahmadi said that maintaining open communication channels is the key to navigating the China-Canada relationship.

"Regular high-level dialogue is essential to effectively managing the bilateral relationship and addressing practical challenges, particularly in the economic and trade domains," he told China Daily.

He pointed to the scale and mutual importance of economic ties between the countries.

"Trade and investment relations between Canada and China are mutually beneficial," Ahmadi said, noting that China is Canada's second-largest trading partner, with about $120 billion in two-way merchandise trade.

China is also Canada's third-largest source of foreign direct investment, with more than $60 billion invested in Canada as of 2024, while Canadian investments in China exceed $40 billion, he said.

"As Canada seeks to diversify its export markets, expanded trade and commercial engagement with China will be critical," he said.

He added that the two economies are highly complementary and already have a strong foundation for further growth.

"There is strong complementarity between the two economies," Ahmadi said, pointing to sectors including agri-food, energy and natural resources, financial services, education and clean technology.

In these areas, he said, "there are deep and well-established commercial relationships between Canadian and Chinese companies, as well as significant opportunities for further expansion."

Carney's visit to China is expected to send an important signal to businesses in both countries at a time when international geopolitical tensions are intensifying and global supply chains are being reshaped, said Zheng Xiaoling, president of the Canada International Trade Promotion Society.

Zheng said the visit carries "important economic and strategic significance", particularly against a backdrop of growing global uncertainty, and could create new opportunities for Canadian companies looking to expand or stabilize their presence in the Chinese market.

"In the future, when companies face the Chinese market, they will no longer hesitate because of diplomatic tensions," she told China Daily, adding that firms would be able to "more confidently plan market expansion and investment".

"Areas with strong potential for expanded cooperation include clean energy and environmental technologies, agricultural and food products such as canola, lobster and meat, as well as higher education, healthcare and artificial intelligence," she said.

Zheng also pointed to the possibility of increased two-way investment following the visit.

"On one hand, Canadian companies could attract more Chinese capital, while on the other, partnerships with Chinese firms could help optimize production and supply-chain arrangements across the Asia-Pacific region, particularly in sectors such as electric vehicles, battery materials and critical minerals," she said.

She noted that even before bilateral trade relations had fully thawed, a growing number of Canadian companies had already begun entering the Chinese market through platforms such as the China International Import Expo.

"Nearly 100 companies from British Columbia alone have participated," she said.

"However, the efforts are still not strong enough.

"I hope the prime minister can pay attention to this opportunity and lead Canadian companies to make better use of this platform, so as to spark a wave of 'Made in Canada' in China," Zheng said.

gaoyang@chinadailyusa.com