Premier Christy Clark’s spring trade mission to South Korea, the Philippines and Japan in May
PREMIER Christy Clark will be advancing export and investment opportunities in key sectors such as technology and innovation, liquefied natural gas (LNG) and international education on her upcoming spring trade mission to South Korea, the Philippines and Japan.
As part of her seventh major trade mission to Asia, Premier Clark will travel to Seoul, Manila and Tokyo May 23-31.
“This trade mission will focus on strengthening trade and investment with priority markets in South Korea and Japan and developing new trade ties in the Philippines,” said Clark. “B.C. ships more goods to these markets than any other province. This trade mission will help build on that success by attracting new trade and investment partners in sectors such as LNG, technology and international education.”
This will be the first time a Canadian premier has travelled to South Korea since the Canada-Korea Free Trade Agreement (CKFTA) was enacted in January 2015, giving Clark the opportunity to promote B.C. products and services in the South Korean market.
Japan is B.C.’s third largest trading partner and has made several investments in B.C.’s LNG sector. As a fellow member of the Trans-Pacific Partnership agreement, there is significant potential to grow trade and investment with Japan, which currently has a number of tariffs in place on Canadian exports such as seafood, agrifoods and lumber.
The Philippines is among Southeast Asia’s fastest growing economies. In December 2015, the B.C. government announced plans to expand its trade presence in the Association of Southeast Asian Nations (ASEAN) region, which has an economy valued at $2.4-trillion and annual growth forecasts above 5% for the next five years.
* B.C. exported $3.6 billion in goods to Japan in 2015, with minerals, energy products and wood products being the top commodities.
* In 2015, South Korea was B.C.’s fourth largest export market with $1.8 billion in exports.
* Since the launch of the BC Jobs Plan in 2011, B.C. has emerged as the largest provincial exporter to the Philippines, with 26% of national exports in 2015.
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