Trade Minister Stockwell Day Urged Canadian Biz To Diversify to Meet Huge Potentials in Asia-Pacific
Prior to departing to Hong Kong and Guangzhou, China and Hanoi and Ho Chi Minh City, The Honourable Stockwell Day, President of the Treasury Board and Minister for the Asia-Pacific Gateway gave a keynote speech at the Vancouver Board of Trade on October 29, 2010 in the Pacific Gateway Forum 2010: Greater Heights, Expanding Horizons. The event was hosted by the Vancouver Board of Trade at the Pan Pacific Vancouver Crystal Pavilion which started at around 8:30 AM.
Minister Day highlighted the importance of the Asia-Pacific Gateway and Corridor Initiative (APGCI) and the Vancouver Asia-Pacific Gateway as an ideal portal for Asian Pacific manufacturers as Vancouver and Prince Rupert are the two closest ports of entry to the vast North America market. The recent and on-going $10 Billion infrastructure investment in the already efficient Port Metro Vancouver further helped speed goods faster than ever before to major commercial hubs in the U.S. and Canada. Mr. Day also pointed out the stability of the Canadian financial and social structures which enabled Canada to rebound the fastest among all G7 countries in face of the global economic uncertainties. Canada, he asserted, has now completely recouped all jobs losses in the last two years.
Later in the media Q&A session after the keynote speech, Vancouver21.com reporter Ray Van Eng posed a question to Mr. Day about the dynamics of the larger and smaller Asian Pacific trading nations such as China and Vietnam, the trade minister provided some interesting answers.
For the bigger Asian partners like China and India, Day indicated that “we have to assure them that we have the capacity to meet their needs. And we also want to make sure that we are in early on (an) emerging market like Vietnam.” He went on to say that while some Canadian businesses might tend to overlook the smaller markets, the government sees them as markets “with potential”. Hence, the Canadian government wants to inform these smaller markets that “the Asia-Pacific Gateway in Vancouver here is the place to be, thinking in terms of their shipping needs. We want to get the message out early to get us a competitive advantage. So we want to take on the very significant economy like China along with the potential for an emerging one like Vietnam.”
The minister also felt that “more and more Canadian businesses (are) realizing that we still have a huge advantage being right next door to the United States. But as they go through their financial troubles, the more diversified you are, the more better off you are going to be” and the Canadian government will continue to act in ‘keeping taxes down, keeping regulations common-sense and building the infrastructure, so the businesses who want to diversify and take on this huge market in Asia can do so in the best manner possible.”
Granite lion presented by the Shanghai Port Authority in June 1995 to Vancouver commemorated the mutual Sister Port Relationship between the two cities in Asia Pacific. [Photography: Ray Van Eng]
Canadian federal trade minister Stockwell Day gave a keynote address at the Vancouver Board of Trade on October 29, 2010 in the Pacific Gateway Forum 2010: Greater Heights, Expanding Horizons.
Stockwell Day spoke to reporters after keynote address at the Vancouver Board of Trade on October 29, 2010.
The on-going CDN$10 Billion investment in Port Metro Vancouver has major improvements in logistics and transportation systems so as to move goods from Asia Pacific to North American markets faster.
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