Financial Post

Thursday, October 30, 2008

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Canadians pack Hong Kong convention

Duncan Mavin,  Financial Post  Published: Thursday, October 30, 2008

 

Canadians outnumbered delegates from any other country by a huge margin at the ninth annual Hong Kong Forum, a meeting of international businesses with links to the self-styled gateway to China.

More than a third of the 443 delegates packed into the convention centre at the harbourside Grand Hyatt on Thursday were from Canadian businesses, universities and trade organizations, a reflection, many seemed to agree, not only of Canada's large Hong Kong-born population, but also of the importance of Hong Kong and China to Canada's future economic success.

"How you do in China is going to impact how well you do overall in the medium and long term," said Zane Moi, Asia-Pacific director of Waterloo, Ont.'s Research in Motion Ltd.

RIM's Blackberry device is still one of the few well-known Canadian brands in this part of the world but Canada's trade with China has been growing at a steady peg in recent years nevertheless.

Between 1997 and 2006, Canada's trade with China soared fivefold to $42.1-billion, as China leapfrogged the U.K. and Japan to become Canada's second largest trading partner behind the United States. Even amid the global economic slowdown, China's gross domestic product is expected to grow at least 8% this year and next, resulting in ongoing demand for commodities and consumer goods alike.

The Hong Kong Forum continues Friday and takes place as several provincial premiers prepare for a promotional visit to mainland China. The premiers of Ontario, New Brunswick, Manitoba and Prince Edward Island are traveling to Beijing, Shanghai and Chongqing in an effort to promote Canadian business interests in China. Former Quebec premier Pierre-Marc Johnson is representing that province, as current Premier Jean Charest is expected to call a provincial election soon.

The provincial leaders follow in the footsteps of many top level delegations from around the world that are frequent visitors through a revolving diplomatic door in Beijing. Canada's federal leadership, however, has been a notable absentee from the diplomatic rounds in Beijing in recent years, and Sino-Canadian relations have deteriorated under Prime Minister Stephen Harper.

Last year, the Canadian government angered Beijing by holding an official meeting with the Dalai Lama. In August Mr. Harper refused to follow other world leaders in attending the opening ceremony of the Beijing Olympics.

Canadian business people in the region frequently bemoan Mr. Harper's failure to visit Beijing.

"Why doesn't the Canadian Prime Minister get over here?" said a Canadian delegate at the Hong Kong Forum. "Personal relationships are very important here and to the Chinese it is very important to get official support."

During the recent election campaign, Mr. Harper is reported to have told a Chinese-Canadian newspaper he is prepared to visit China, though he did not set a date.

dmavin@nationalpost.com

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