Vice Commerce Minister Wang Chao and Louis Lévesque, Canada's Deputy Minister of International Trade, co-chaired the 22nd Session of China-Canada Trade and Economic Joint Committee on March first in Ottawa. The two sides exchanged views on Sino-Canada trade and economic relations, expanding Sino-Canada cooperation in trade and investment and trade and economic issues of common interest extensively and in depth.

Wang said, strengthening Sino-Canada cooperation on trade and economy is keeping with the core interests of the two nations and the peoples, and the necessary requirement to advance comprehensive Sino-Canada strategic partnership. Chinese president Hu Jintao made a successful visit to Canada in 2010, and reached extensive consensus on deepening Sino-Canada trade and economic cooperation with the Head of Canada. At present, Sino-Canada trade and economic cooperation faces great opportunities for development, and the two sides should take measures to improve trade and investment cooperation level, so as to achieve the goal of bilateral trade value reaching $60 billion in advance. The two sides should actively promote two-way investment cooperation, and advance the establishment of long-term and stable partnership in energy and mineral resources between the enterprises from the two sides, practically implementing the consensus reached by the Heads of the two countries.

Canadian side said, currently Sino-Canada trade and economic relations maintain sound development momentum. China has held steadily 2nd place as Canada’s trade partner. The economies of the two countries are highly complementary, with huge cooperation potential. Canada hopes to work together with China to implement consensus reached by the Heads of the two countries, so as to earnestly promote the continuous development of Sino-Canada trade and economic cooperation.

The two sides officially declared at the Session to launch China-Canada Joint Research on economic complementarity.