Ottawa sees room to expand trade ties with Beijing

Canada has room to deepen economic ties with China despite pressure from the United States, Canadian experts said at a recent business roundtable in Vancouver.

The 2026 Canada-China Economic and Trade Roundtable, hosted by the Canada China Chamber of Commerce and organized with support from Bank of China (Canada), brought together nearly 70 participants from government, business, academia and indigenous communities on Thursday.

Jiang Wenran, president of the Canada-China Energy and Environment Forum, said the overall outlook for Canada-China relations was positive and that the two countries had an established framework for cooperation.

The priority now is to build on that foundation and expand practical cooperation, Jiang said.

He identified energy, agriculture, basic manufacturing and seafood as areas with potential for closer cooperation. He also suggested that environmental technologies could provide opportunities.

Looking further ahead, he said AI, the digital economy, critical minerals and education could become important areas for bilateral cooperation.

The comments reflected the broader view at the roundtable that Canada and China have complementary economic strengths that can create opportunities for both sides.

Julian Karaguesian, an economics professor at McGill University in Montreal, said Ottawa's interests do not always align with Washington's approach to China, adding Canada should look beyond its traditional dependence on the US market.

"What may be good for the United States in terms of the containment policy may not be good for us," Karaguesian said at the Vancouver event.

Canada and China have complementary economic strengths, he said, describing Canada as "a natural resource superpower" and China "a manufacturing superpower".

"We're also wonderful potential investment partners," he said, adding that there were "so many avenues to expand in".

Canada's trade with China could be significantly larger if geopolitical factors were less restrictive, Karaguesian said. "Our trade with China could be three times what it is today."

The comments came as Canada seeks to diversify its trade relationships amid uncertainty in its economic ties with the US.

Washington imposed 50 percent tariffs on about $20 billion worth of Canadian goods effective on Aug 22, while Ottawa responded with matching tariffs on an equivalent value of US imports, effective from Tuesday.

Karaguesian said diversification should no longer be viewed simply as an opportunity arising from the current crisis, but as a necessity.

He emphasized the necessity that "we diversify our trade and invest in relationships".

"It shouldn't be really from crisis to opportunity; it's from crisis to necessity and we have a unique opportunity," he added.

Lu Hai, a professor of accounting at the Rotman School of Management at the University of Toronto, said green transition and supply chains could provide another area for closer cooperation.

The way countries assess supply chains was changing, with environmental considerations becoming increasingly important alongside cost, Lu said.

"So we have low cost, low emissions," he said, highlighting the need to consider both economic and environmental factors when evaluating supply chains.

Former Canadian finance minister Bill Morneau underscored the importance of maintaining dialogue and building relationships as Canada navigates a more difficult international economic environment.

"We deal with transition, which means there will be more need for you to have conversations building deeper relationships, critically important," Morneau said.

gaoyang@chinadailyusa.com