Economy

Canada welcomes China to join Asia-Pacific Gateway project

(Xinhua)
Updated: 2010-11-22 14:37

VANCOUVER - Canada on Friday welcomed China's participation in its Asia Pacific Gateway and Corridor Initiative (APGCI) program, which aims to turn the country's west coast ports into a major entry point for Asian goods into North America.

Stockwell Day, president of Canada's Treasury Board and Minister responsible for the Asia-Pacific Gateway, told reporters the two countries had agreed to harmonize their maritime regulatory and safety regimes with a view to assisting businesses on both sides.

Day, who has recently visited China's Hong Kong and Guangzhou, said the presence of China's Minister of Transport Li Shenglin, who was undertaking his first visit to Canada, demonstrated "strong signals in broadening the relationship."

"The fact that he's here shows their interest in our ports. They want to see things continue to develop. He had four suggestions at the end of his speech and one of them was promoting the Asia-Pacific Gateway," he said.

Launched in 2006, the APGCI program has to date received C$3.5 billion ($3.4 billion) in investment. There has been no foreign investment yet, according to Day.

He said the project would be beneficial to China as Prince Rupert port, north of Vancouver, was 1,100 nautical miles closer to Shanghai than any other North American port. Chinese goods could be off-loaded and sorted at the strategic inland port of Prince George, located about 1,300 km from the coast, for rail transport into the American heartland in 100 hours or less.

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Speaking earlier in the day at a breakfast meeting, the Chinese minister welcomed the upgrading of the Canadian ports, as well as the construction of oil pipelines to the ports and the modification of railways to the hinterland and Canada-US border.

"The transport ministries of both countries should cooperate while encouraging transport infrastructure construction and operation enterprises, as well as transport companies, to take part in the Asia Pacific Gateway and Corridor Initiative by various means, with a view to constructing a more vigorous and efficient transport and logistics corridor for the Asia-Pacific region," Li said.

Bilateral trade between China and Canada has experienced huge growth since 1970, the year the two countries established diplomatic ties.

It has rocketed from $150 million in 1970 to $29.7 billion in 2009 and is expected to increase to $60 billion by 2015.