PM's visit to China brings good news for canola producers

by Mattie Casey (feat. Colin Robertson)

The Stock News Times
September 14, 2016

The pair oversaw the signing of deals, including a film co-production agreement.

"We want to set a very clear and constructive relationship with China that, yes, looks at the potential economic benefits of better trade relationships, while at the same time ensuring that our voice is heard clearly on issues of human rights, labour rights, democracy and environmental stewardship", Mr. Trudeau told reporters last week.

China agreed on Wednesday to delay introducing stricter rules on shipments of canola from Canada while both countries work to end a months-long trade spat over sales of the oilseed, offering an eleventh hour temporary reprieve for Canada's farmers.

Trudeau did not provide details on his talks with Li about Garratt. Asked about the remarks, Saint-Jacques denied that the two sides had agreed to begin formal negotiations.

Wednesday morning Prime Minister Trudeau announced China has granted an extension to the September1 deadline originally announced earlier this year.

It is good to start a stronger relationship, Trudeau said. "So if you have a little collateral, you might as well use it", said Hugh Stephens, with the Asia Pacific Foundation of Canada. "If there's been difficulty deploying capital in the oilsands, it isn't because the Chinese aren't welcome, but because governments in Canada have driven off investment by Canadians and reputable global investors [because of restrictive regulations]". The concerns led the former Conservative government to restrict state-owned Chinese investment in Alberta's oilsands. "Right now that would be very hard for the Canadian industry to meet on the volume of canola that we send to China".

Ritz suggested there is still room for Canada to forge a free trade deal with China, even though government officials have played down any notion that such a deal could be on the table.

Trudeau said that the two sides will step up trade and investment.

Li Keqiang said political, economic and cultural cooperation had deepened since diplomatic ties were established 46 years ago.

Outside the Great Hall and across the square, Chinese flags fluttered alongside the Maple Leaf. The documents also show that federal officials realized it was inevitable companies would need temporary foreign workers to proceed with the energy projects in western Canada. More than half said they would prefer Canada to hold back from economic opportunities in Asian countries because of human rights concerns.

The detention of a Canadian, Kevin Garratt, from 2014 on charges of espionage in China is also likely to overshadow the movement. The prime minister did not say what China has told him about Garratt's case.

The Canadian prime minister added that the two countries will cooperate in areas of mutual concern, including climate change, judge training and United Nations peacekeeping.

Chinese officials in Ottowa have said the two countries were having "positive consultations" and the issue could be "resolved properly through joint efforts".