Premier Kathleen Wynne concluded her second mission to China on Friday the 13th this month in Beijing, where 38 new agreements valued at $750 million were signed by delegates. This brings the estimated total value of agreements from the mission to $2.5 billion. The agreements are expected to create 1,700 jobs in Ontario.
At a signing ceremony in Beijing, Wing On New Group Canada Inc. signed three agreements totaling $230 million, including:
- A $100-million agreement with JD.com to purchase Canadian produce and provide business services to Canadian enterprises in the Chinese e-commerce market.
- An $80-million agreement with China Telecom Group Best Tone Information Co. Ltd. to import food and Canadian nutritional products to China. The Chinese company will also provide financial services to Wing On and jointly develop a Chinese e-commerce market with Wing On and JD.com.
- An agreement with Cross-border City Americo Wholesale to purchase $50 million in Canadian produce over the next three years, and open 30 new stores in 2016, with an Ontario Produce Exhibition Booth in every new store.
Hydrogenics signed four certified integrator agreements to supply fuel cell technology for integration into zero-emission public transport buses. In aggregate, the company anticipates a market opportunity of up to $100 million in revenue over a 3 to 5 year period, with approximately $10 million in the first year.
Also in Beijing, CITIC Capital announced a $100 million investment towards Paradise, a new attraction and residential development in Niagara Falls. The development is led by China-based GR Investments Co. Ltd., which has purchased 484 acres of property located west of Marineland and adjacent to Thundering Waters Golf Club.
The Premier also announced that the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA) has hired a new agri-food trade advisor in Shanghai to assist Ontario food exporters. The advisor will increase food export sales by providing international market information and identifying suitable business opportunities and strategic alliances for Ontario food and beverage suppliers. OMAFRA already has trade advisors in India, the United Kingdom and the United States.
During the mission, the City of Wuxi, in Jiangsu Province, and the Region of Durham signed a Friendship Agreement, creating a sister city relationship to promote economic co-operation, trade and collaboration in education and tourism. Also in Wuxi, Trent University entered into a Partnership High School Memorandum of Understanding (MOU) with Wuxi No. 1 High School and Wuxi Foreign Language School.
Investments also formalized include Shenzhen Bauzer Investment Group Co. Ltd., which acquired an 80% share of EDI, a Toronto-based leader in the field of robotics automation. With this acquisition, Shenzhen Bauzer intends to create an additional 200 jobs in Ontario.
Attracting new investments and helping the province’s businesses compete globally is part of the government’s plan to build Ontario up by investing in people’s talents and skills, making the largest investment in public infrastructure in Ontario’s history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
QUOTES
“Trade is essential for Ontario’s economic growth and international competitiveness. This mission has strengthened Ontario’s political and economic ties with China. By signing new trade agreements valued at $2.5 billion and further developing our relationships with political leaders, Ontario has made a significant impact throughout this mission.”
— Kathleen Wynne, Premier of Ontario
“The tremendous success of the mission is further evidence of the enduring relationship between China and Ontario and the compelling business case our province offers for global investment. Our government will continue working collaboratively with the private sector and research community to build an innovative, dynamic economy that supports long-term growth and job creation.”
— Brad Duguid, Minister of Economic Development, Employment and Infrastructure
“China is an important and long-term partner for Ontario in trade development, investment attraction, and science and technology collaboration. Our diversity and our highly skilled workforce are advantages that allow Ontario to create products and services for the global marketplace. The successful signings from this mission reinforce Ontario’s position as a top trading economy and will help create more jobs and economic opportunities across our province.”
— Michael Chan, Minister of Citizenship, Immigration and International Trade
QUICK FACTS
- On the final day of the mission, Ontario delegates signed 38 agreements, which are valued at $750 million.
- Ontario delegates signed more than 100 agreements and MOUs during the mission, with an estimated total value of $2.5 billion.
- Over the last two years, Premier Wynne’s 2014 and 2015 missions to China have generated agreements worth an estimated $3.8 billion — including agreements signed by delegates during and after the missions.
LEARN MORE
Discover why Ontario’s highly diversified economy is attractive to investors
Here’s to open, reciprocal trade in North America
The United States and Canada boast one of the largest trading relationships in the world.
No other country buys more goods and services that are “Made in the USA” than Canada – to the tune of $322 billion a year. And as a result, Canada supports close to nine million U.S. jobs.
Factories and farming in both countries are linked through just-in-time supply chains that criss-cross the border. Investment, productivity and competitveness in both countries are, by and large, supported by common rules and harmonized regulation.
These are some of the things I’ve been hearing at two conferences I’ve attended south of the border since the change in the U.S. administration. At the state and provincial level, elected representatives agree the numbers speak for themselves – trade has resulted in prosperity and good-paying jobs.
However, Canada and the U.S. have also lost hundreds of thousands of manufacturing jobs to Mexico and China, largely due to cheaper labour.
NAFTA negotiations commence Aug. 16. The uncertainty is huge. We really don’t know where things are going to go.
We are also told NAFTA need not necessarily be fully renegotiated – just modernized. Ideally, the goal would be to turn free trade into fair trade. Isn’t this how trade relationships are supposed to work – trade dollars flowing back and forth in a fair and balanced way?
The numbers continue to speak for themselves.
North American trade has tripled from $340 billion when the three countries entered NAFTA in 1993– to $1.2 trillion today.
Energy is central to our mutual economic growth and competiveness, to our integrated supply chains, and our essential community services. Canada is America’s largest and most secure supplier of all forms of energy. It’s carried by some 70 pipelines and 37 transmission lines traversing the border. Canada has the third largest crude oil reserves in the world and the U.S. imports 43 per cent of its supply from us.
But there is much more to our relationship than jobs and economic data. We have been friends and allies, barring a few dust-ups, since colonial times.
We share a century of military history, fighting together in defense of our common values through World Wars I and II, the Cold War, Korea, the Balkans, the Middle East and Afghanistan. Canada played a major role in Afghanistan. Canadian Forces continue to lead with NATO in Eastern Europe, and in the fight against ISIS.
Canadian Army, Navy and Air Force officers are embedded throughout the U.S. military at all levels in the mutual defense of our shared continent.
And here’s a parting shot, Canada is the duck factory for North America, supporting 737,000 jobs and over $124 billion in U.S. economic output.
We work together as two nations to sustain air and water quality on both sides of the border – a border that is over 40 per cent water.
The upcoming NAFTA negotiations are predicted to touch on a number of issues including labour mobility, job retraining, rules of origin, harmonized standards and regulation, copyright and patent infringement, digital commerce, and services-related trade.
And it won’t end there.
To be positive, I feel there is a potential world of opportunity, if NAFTA can be truly modernized, setting the stage for all concerned to further expand their reach, and grow their markets. Toby Barrett
Changes south of the border – we must up our game
Given the change in administration south of the border, we in Ontario and across Canada must now up our game.
On May 18, U.S. Trade Representative Robert Lighthizer gave notice of intent to renegotiate the North American Free Trade Agreement (NAFTA) with Canada and Mexico. Citing outdated standards and regulation, Lighthizer stressed the need for higher-paying jobs in the U.S. President Trump has repeatedly stated he would tear up NAFTA. While such a move would require the sign-off of the U.S. Congress, the President can unilaterally sign Executive Orders regarding tariffs.
Trump has also voiced displeasure about our agriculture supply management system. He has slapped new import duties on softwood lumber ranging from 3 per cent to 24 per cent, having an immediate and serious consequence for our forestry sector.
These moves will pale by comparison to the border tax President Trump is touting. This would be a massive Border Adjustment Tax (BAT) designed solely to protect U.S. jobs. It remains unclear whether the target is strictly Asia’s parts suppliers, or whether Mexico and Canada would be dragged in.
The BAT program would also include a massive cut to the corporate tax rate from 35 per cent to only 15 per cent. Proposals also include a 15 per cent tax rate for all businesses, lower individual rates, a larger standard deduction for households, and a repeal of the estate tax. Under this plan, the average U.S. business will pay about a 20 per cent tax rate, after accounting for state taxes. Canada’s average combined federal-provincial rate is 27 per cent.
This spring, the federal government and many of the provinces scrambled to put together a lobbying effort to persuade U.S. states and the Trump administration to leave Canada out of these protectionist measures. Saskatchewan Premier Brad Wall offered up his explanation of cross-border supply chains. “Saskatchewan farmers buy John Deere tractors, made in Iowa, to harvest oats that are then sold to General Mills in Cedar Rapids, turned into Cheerios and exported back to Canada.”
The U.S. remains Ontario’s primary destination for international merchandise exports, representing 80.5 per cent of the total in 2015.
On the energy front, President Trump has promised cheaper energy, and has walked away from the Paris climate-change agreement. Ontario’s cap-and-trade tax alone puts business and industry at a $2 billion competitive disadvantage with neighbouring jurisdictions. US-Canada policies are going in opposite directions – minimum wage, for example – and will drastically affect the competitiveness of Ontario’s manufacturers.
Billed by the White House as the most ambitious attack on red tape since the Reagan era, Donald Trump is cutting business regulation and capping the total cost of new rules. He has signed an order calling ‘one in, two out’ for each new regulation proposed by an agency such as the Environmental Protection Agency or the Labor Department – the same department will need to identify two existing regulations to be scrapped.
If the world’s largest economy does take off, a rising tide will lift all boats, including our’s in Ontario. But on the other hand, the U.S. will launch tax cuts, deregulation, and infrastructure spending with a Buy America rider. That all makes for great opportunities for U.S.-based businesses, at the expense of others, including those on our side of the border.
UPDATE DECEMBER 1, 2016
Premier’s Mission to South Korea Generates About $120 Million in New Agreements
New Agreements in Health Sciences and Education Will Drive Innovation
Today in Seoul, Premier Kathleen Wynne announced key agreements between Ontario and South Korea businesses and institutions. Valued at about $120 million, these partnerships will enhance Ontario’s research and academic ties with South Korea and create up to 256 new jobs in Ontario.
Ontario and South Korea businesses and institutions signed 13 new agreements as part of the Premier’s business mission:
Korea Health Industry Development Institute (KHIDI) and Ontario’s MaRS Innovation signed a five-year partnership agreement to commercialize the latest advances in biomedical and health care innovations. Valued at $100 million and expected to create 50 jobs in Ontario, the agreement will combine Ontario and Korean resources to find technological solutions for today’s most urgent health care problems
MEDIPOST signed an MOU with Ontario’s Centre for Commercialization of Regenerative Medicine (CCRM). MEDIPOST develops and commercializes stem cell therapy products and technology. CCRM accelerates the development of cell-based therapies by assembling critical academic, industry and investor networks around a team of commercialization experts supported by specialized funding and dedicated facilities. The MOU will enable MEDIPOST to expand its business in North America through potential partnerships with CCRM on clinical trials, regulatory approval, reimbursement and commercial manufacturing. The MOU is expected to create 25 jobs in Ontario
McMaster University, Centennial College and Seneca College signed 11 agreements with South Korean postsecondary institutions. Valued at more than $17.5 million, the agreements will generate an estimated 181 jobs in Ontario, including 150 at Centennial College.
Premier Wynne spoke to South Korean business and economic leaders about Ontario’s competitive advantages during a keynote address at an economic luncheon organized by the Canadian Embassy in partnership with the Canadian Chamber of Commerce in Korea. The Premier highlighted Ontario and South Korea’s productive economic and business partnerships, including in information and communications technology (ICT).
The Premier also announced that Ontario will open a new International Trade and Investment Office in Seoul in 2017-18. The new office will help Ontario companies do business in South Korea and increase exports to the region.
At Seoul’s Yonsei University, the Premier participated in a roundtable discussion with students who have ties to Ontario and Canada. South Korea is Canada’s third-largest source of international students — in 2015, Ontario hosted over 40 per cent of the 14,500 international students from South Korea studying in Canada.
Increasing Ontario’s global economic presence and helping our businesses thrive are part of our plan to create jobs, grow our economy and help people in their everyday lives.
QUOTES
” Our mission is opening up doors and creating opportunities for Ontario businesses to grow internationally and improve health care solutions for people around the world. The agreements signed today demonstrate the value of increasing Ontario’s international presence and I look forward to seeing the results of our delegates’ work with businesses in South Korea.”
– Kathleen Wynne
Premier of Ontario
” Ontario’s leadership position in key sectors such as auto, information and communications technology (ICT) and manufacturing makes it an ideal partner for global firms looking to invest in North America. As part of our comprehensive economic development strategy, our government will continue to invest in innovation, research and development, and, most importantly, our talented workforce.”
– Brad Duguid
Minister of Economic Development and Growth
QUICK FACTS
South Korea is Asia’s fourth-largest economy and a priority market for Ontario. The 2015 Canada-Korea Free Trade Agreement provides new opportunities for exporters in Ontario.
Ontario is home to Canada’s largest South Korean community — more than 82,000 people of Korean descent — creating a natural link between the regions.
South Korean companies are already taking advantage of Ontario’s competitive business environment, especially in the motor vehicle parts, industrial rental, banking, advertising, and clothing manufacturing sectors.
Between 2006–2015, South Korean companies invested approximately US$453 million in greenfield investments in Ontario.
LEARN MORE
Ontario’s unique innovation ecosystem
Disponible en Français
La mission de la première ministre en Corée du Sud permet de conclure de nouvelles ententes pour environ 120 millions de dollars
De nouvelles ententes en sciences de la santé et en éducation stimuleront l’innovation
1 décembre 2016 10h00
Aujourd’hui à Séoul, la première ministre Kathleen Wynne a annoncé la conclusion de nouvelles ententes commerciales clés entre les entreprises et les institutions de l’Ontario et de la Corée du Sud. Évalués à environ 120 millions de dollars, ces partenariats amélioreront les liens entre les institutions de recherche et universitaires avec celles de la Corée du Sud et créeront jusqu’à 256 emplois en Ontario.
Des entreprises et des établissements ontariens et sud-coréens ont signé 13 nouvelles ententes à la faveur de la mission commerciale de la première ministre, notamment :
Le Korea Health Industry Development Institute (KHIDI) et le Centre MaRS Innovation ont signé une entente d’une durée de cinq ans afin de commercialiser les plus récentes percées en biomédecine ainsi que les innovations dans le domaine des soins de santé. Évaluée à 100 millions de dollars et devant créer 50 emplois en Ontario, l’entente combinera les ressources ontariennes et coréennes afin de trouver des solutions technologiques aux problèmes de soins de santé les plus urgents d’aujourd’hui.
MEDIPOST a signé un PE avec le Centre pour la commercialisation de la médecine régénératrice (CCMR) MEDIPOST développe et commercialise les produits et la technologie en matière de thérapie des cellules souche. Le CCMR accélère le développement de ce type de thérapies en réunissant des réseaux universitaires, de l’Industrie et d’investissements autour d’une équipe d’experts en commercialisation soutenus par un financement et des établissements spécialisés. Le PE permettra à MEDIPOST d’accroitre ses occasions d’affaires en Amérique du Nord par d’éventuels partenariats avec le CCMR concernant des essais cliniques, des autorisations réglementaires, des remboursements et une fabrication commerciale. Le PE devrait créer 25 emplois en Ontario.
L’Université McMaster, le Collège Centennial et le Collège Seneca ont signé au total 11 ententes avec des établissements postsecondaires sud-coréens. D’une valeur de plus de 17,5 millions de dollars, ces ententes pourraient se traduire par la création de 181 emplois en Ontario, dont 150 au Collège Centennial.
La première ministre Wynne s’est adressée à des chefs de file du monde des affaires et du secteur de l’économie de la Corée du Sud pour leur faire valoir les avantages concurrentiels de l’Ontario à l’occasion de son allocution à un déjeuner sur le thème de l’économie organisé par l’ambassade du Canada en partenariat avec la Chambre de commerce du Canada en Corée. Elle a mis en vedette les partenariats commerciaux et économiques productifs de l’Ontario et de la Corée du Sud, y compris dans le domaine de la technologie de l’information et des communications (TIC).
La première ministre a également annoncé que l’Ontario ouvrira un nouveau bureau du commerce et des investissements à Séoul en 2017-2018. Ce nouveau bureau aidera les entreprises ontariennes à faire des affaires en Corée du Sud et à augmenter leurs exportations à destination de cette région.
À l’Université Yonsei de Séoul, la première ministre a participé à une table ronde avec des étudiants qui avaient des liens avec l’Ontario et le Canada. La Corée du Sud arrive au troisième rang des pays qui envoient des étudiants au Canada. En 2015, l’Ontario a accueilli plus de 40 % des 14 500 étudiants internationaux de la Corée du Sud venus étudier au Canada.
Accroître la présence de l’Ontario dans l’économie mondiale et favoriser l’expansion des entreprises, cela fait partie de notre plan visant à créer des emplois, à stimuler notre économie et à améliorer la vie quotidienne de notre population.
CITATIONS
« Notre mission ouvre des portes et crée des possibilités permettant aux entreprises ontariennes de prendre de l’expansion sur la scène internationale et d’améliorer les solutions de soins de santé pour les gens de partout au monde. Les ententes signées aujourd’hui démontrent les avantages de rehausser la présence internationale de l’Ontario et il me tarde de prendre connaissance des résultats des démarches de vos délégués auprès des entreprises sud-coréennes.»
– Kathleen Wynne
première ministre de l’Ontario
« La position de chef de file de l’Ontario dans les secteurs des technologies de l’information et des communications, de l’automobile, de l’aérospatiale et de la fabrication en fait un partenaire idéal pour les entreprises internationales qui cherchent à investir en Amérique du Nord. Dans le cadre de notre stratégie mondiale globale de développement économique, notre gouvernement va continuer d’investir dans l’innovation, la recherche et, ce qui est le plus important, dans notre main-d’oeuvre talentueuse.»
– Brad Duguid
ministre du Développement économique et de la Croissance
FAITS EN BREF
Quatrième puissance économique d’Asie, la Corée du Sud constitue un marché prioritaire pour l’Ontario. L’Accord de libre-échange Canada-Corée, entré en vigueur en 2015, procure de nouveaux débouchés aux exportateurs ontariens.
On retrouve en Ontario la plus importante communauté sud-coréenne du Canada. Plus de 82 000 Ontariennes et Ontariens sont d’origine sud-coréenne et cela crée un lien naturel entre l’Ontario et la Corée du Sud.
Les entreprises sud-coréennes profitent déjà du climat d’affaires concurrentiel de l’Ontario, en particulier dans les secteurs des pièces d’automobiles, de la location d’équipement industriel, des services bancaires, de la publicité et de la fabrication de vêtements.
Entre 2006 et 2015, des entreprises sud-coréennes ont fait de nouveaux investissements d’environ 453 millions de dollars US en Ontario.
POUR EN SAVOIR DAVANTAGE
L’écosystème d’innovation unique de l’Ontario
Disponible en ligne
Available in English
Premier Expands Economic Opportunities in Japan
Meetings with Economic Leaders Promote Ontario’s Auto and Aerospace Industries
November 30, 2016 12:00 P.M.
Premier Kathleen Wynne has concluded the Japan leg of her business mission by meeting with key economic leaders and manufacturing executives to promote Ontario’s innovative business environment and encourage future investments.
Ontario and Japan’s economies are strongly connected through the manufacturing sector. At a meeting today with F-Tech, known as F&P and Dyna-Mig in Ontario, the Premier discussed investment opportunities in auto parts manufacturing.
Yesterday, the Premier met with manufacturing executives in Nagoya to explore opportunities for collaboration in the aerospace and auto industries. The Premier met with executives from Toyota to discuss innovation in the auto industry and with a team from Mitsubishi Heavy Industries to promote investment opportunities in Ontario’s aerospace sector.
To strengthen Ontario’s cultural and political ties with Japan, the Premier met with the Governor of Tokyo, Yuriko Koike. The Governor and Premier discussed Tokyo and Ontario’s common priorities, including climate change, infrastructure and innovation.
From December 1-2, the Premier will continue her business mission in Seoul, South Korea.
Building new international partnerships and growing Ontario’s manufacturing sector are part of our plan to create jobs, grow our economy and help people in their everyday lives.
QUOTES
” International partnerships are critical to Ontario’s economic success and competitiveness in today’s global market. Ontario and Japan share many common priorities — including innovation and manufacturing — and there are many opportunities for collaboration. Meetings with business and political leaders open the door for future partnerships and business deals.”
– Kathleen Wynne
Premier of Ontario
QUICK FACTS
Ontario received more than 70 per cent of Japanese foreign direct investment (FDI) to Canada from 2006–2015 — approximately $7.4 billion, more than 10 per cent of total FDI to the province.
Toyota chose its Cambridge, Ontario plant as the first location outside Japan to assemble Lexus vehicles.
Ontario is home to nine universities and 24 colleges with innovative auto-related research initiatives and training programs.
More than half of the world’s top 25 aerospace companies have key operations in Ontario, including Mitsubishi Heavy Industries.
Ontario has committed $25.8 million to build the Centennial College Downsview Park Aerospace Campus in Toronto.
LEARN MORE
Why companies invest in Ontario
Ontario’s auto sector innovation
Available Online
Disponible en Français
La première ministre multiplie les possibilités économiques au Japon
Des rencontres avec des dirigeants de l’économie font la promotion des industries ontariennes de l’automobile et de l’aérospatiale
30 novembre 2016 12h00
La première ministre Kathleen Wynne a conclu le programme japonais de sa mission commerciale, en rencontrant des dirigeants clés en économie et des cadres supérieurs du secteur manufacturier afin de faire la promotion de l’environnement d’affaires novateur et d’encourager les investissements futurs.
Les économies de l’Ontario et du Japon sont fortement interconnectées grâce au secteur manufacturier. Lors de la rencontre d’aujourd’hui avec des représentants de F-Tech, connu en Ontario sous le nom de F&P et Dyna-Mig, la première ministre a discuté des possibilités d’investissement dans la fabrication de pièces d’automobiles.
Hier, la première ministre Wynne a rencontré des cadres supérieurs du secteur manufacturier à Nagoya afin d’explorer des possibilités de collaboration au sein des industries de l’aérospatiale et de l’automobile. La première ministre a rencontré des cadres supérieurs de Toyota pour discuter de l’innovation au sein de l’industrie automobile. La première ministre a également rencontré une équipe de Mitsubishi Heavy Industries Aerospace Systems afin de faire la promotion de possibilités d’investissement dans le secteur aérospatial de l’Ontario.
Pour renforcer les liens culturels et politiques de l’Ontario avec le Japon, la première ministre a rencontré la gouverneure de Tokyo Yuriko Koike. La gouverneure et la première ministre ont discuté de priorités communes de Tokyo et de l’Ontario, dont le changement climatique, l’infrastructure et l’innovation.
Les 1er et 2 décembre, la première ministre poursuivra sa mission commerciale à Séoul en Corée du Sud.
Bâtir de nouveaux partenariats internationaux et faire croître le secteur manufacturier de l’Ontario, cela fait partie de notre plan visant à créer des emplois, à stimuler notre économie et à améliorer la vie quotidienne de notre population.
CITATIONS
« Les partenariats internationaux sont essentiels à la réussite économique et à la compétitivité de l’Ontario au sein des marchés mondiaux actuels. L’Ontario et le Japon ont en commun plusieurs priorités, notamment en innovation et en fabrication, et il existe plusieurs possibilités de collaboration. Des rencontres avec des dirigeants d’affaires et politiques ouvrent la porte à la conclusion de partenariats futurs et à des ententes d’affaires.»
– Kathleen Wynne
première ministre de l’Ontario
FAITS EN BREF
Entre 2006 et 2015, l’Ontario a reçu plus de 70 % des investissements directs à l’étranger (IDE) du Japon au Canada, soit environ 7,4 milliards de dollars ou plus de 10 % du total des IDE dans la province.
Toyota a choisi son usine de Cambridge en Ontario comme première installation à l’extérieur du Japon pour assembler les véhicules Lexus.
L’Ontario dispose de neuf universités et de 24 collèges qui offrent des initiatives en recherche et des programmes de formation novateurs dans le secteur automobile.
Plus de la moitié des 25 compagnies aérospatiales les plus importantes au monde ont des opérations clés en Ontario. Cela inclut Mitsubishi Heavy Industries.
L’Ontario s’est engagé à allouer 25,8 millions de dollars pour bâtir le campus de l’aérospatiale du Collège Centennial au parc Downsview à Toronto.
POUR EN SAVOIR DAVANTAGE
Pourquoi les entreprises investissent-elles en Ontario
UPDATE November 25, 2016 Premier to Depart on Mission to Japan and South Korea
Business Mission Will Generate Agreements and Jobs for Ontario
Premier Kathleen Wynne departs tomorrow on a business mission to Japan and South Korea.
Premier Wynne will lead a delegation of 45 Ontario business and academic leaders to Tokyo in Japan from November 28-30 and a delegation of 48 to Seoul in South Korea from December 1-2.
The Premier will also travel to Nagoya, Japan for business meetings on November 29. To encourage investment in Ontario and expand trade networks, the Premier will meet with business and political leaders to build partnerships, exchange information and ideas, and seek opportunities for collaboration.
Increasing trade is key to strengthening Ontario’s economy and creating jobs. By building positive relationships with Japanese and South Korean businesses and leaders, we are creating a solid foundation for future agreements and partnerships. Ontario’s diverse and innovative economy, competitive corporate tax rate, strong financial sector and talented workforce make it one of the best places in the world to do business.
Building new international partnerships and helping Ontario businesses compete globally are part of our plan to create jobs, grow our economy and help people in their everyday lives.
QUOTES
” In a global economy, international missions deliver local jobs. We are developing a strong, resilient business environment in Ontario to spur innovation and growth. Ontario shares these priorities for economic growth with each of Japan and South Korea — a strong foundation to expand partnerships. This mission will make Ontario stronger by generating business agreements to increase trade, spur investment in Ontario and create jobs.”
– Kathleen Wynne
Premier of Ontario
QUICK FACTS
Japan is Ontario’s fifth-largest trading partner — two-way trade between Ontario and Japan exceeded $11 billion in 2015.
South Korea is the fourth-largest economy in Asia — two-way trade between Ontario and South Korea is increasing and reached almost $6 billion in 2015.
The Canada-Korea Free Trade Agreement, which came into effect in 2015, supports increased international trade and provides new opportunities for exporters in South Korea and Ontario.
Follow the Premier’s mission to Japan and South Korea on Twitter and Flickr.
LEARN MORE
Going Global: Ontario’s Trade Strategy
Ontario Secures New Agreements in Beijing
April 27, 2016 Today in Beijing, Deputy Premier Matthews and Minister Chan participated in the signing of several new collaboration agreements between Ontario and Chinese companies that will bring substantial opportunities for jobs and growth to the province.
The signings include:
A memorandum of understanding to build new trade and investment opportunities with China’s leading supplier of agri-products, diversified foodstuffs and food services
An agreement that will bring more Ontario ice wine to China to help meet the growing demand for this signature product
An agreement that will increase the purchasing of Ontario food products, housewares and appliances over the next 20 years to supply Chinese consumers’ desire and appreciation for quality Ontario goods
Minister Chan also met with the Chinese Federation of Overseas Entrepreneurs to discuss trade opportunities, and held a roundtable with over 20 C-Suite executives to promote the value of investing in Ontario.
Attracting new investment and helping the province’s businesses compete globally is part of the government’s economic plan to build Ontario up and deliver on its number-one priority to grow the economy and create jobs. The four-part plan includes investing in talent and skills, including helping more people get and create the jobs of the future by expanding access to high-quality college and university education. The plan is making the largest investment in public infrastructure in Ontario’s history and investing in a low-carbon economy driven by innovative, high-growth, export-oriented businesses. The plan is also helping working Ontarians achieve a more secure retirement.
QUOTES
“Ontario’s highly-skilled workforce and competitive business costs are advantages that allow us to create innovative products and services for the global marketplace, and they make us a primary destination for foreign direct investment. The agreements reached today in Beijing were made possible by Ontario’s skilled workforce and our attractive business climate. We will enjoy new high value jobs and investment opportunities across our province for years to come.”
— Michael Chan, Minister of Citizenship, Immigration and International Trade
“With this mission, Ontario is building on our strong relationship with China, our second-largest trading partner. Through the agreements signed today, we are creating important partnerships and fostering opportunities for economic growth and job creation that will benefit people in Ontario and in China.”
— Deb Matthews, President of the Treasury Board
“These agreements are great news for Ontario and our agri-food industry. By developing closer partnerships with these important Chinese organizations our government is working to realize new export opportunities for our robust food and beverage sector, creating new jobs and showcasing Ontario’s quality products to a global audience.”
— Jeff Leal, Minister of Agriculture, Food and Rural Affairs
QUICK FACTS
§ The April 24 – May 4, 2016 mission will build on the success of Premier Wynne’s 2014 Business Mission to China (see Silo article above) , Ontario’s Agri-Food Trade Mission to China and Premier Wynne’s 2015 Business Mission to China.
§ According to the Conference Board of Canada, every $100 million increase in exports creates approximately 1,000 new jobs.
LEARN MORE
§ Ontario’s Going Global Trade Strategy https://www.ontario.ca/business-and-economy/going-global-ontarios-trade-strategy
§ Read why businesses choose to Invest in Ontario http://www.investinontario.com/faq
§ Agreements signed in Beijing http://news.ontario.ca/m/36692