Food, cleantech companies among winners in latest trade mission
TORONTO—Ontario Premier Kathleen Wynne finished off her second trade mission to China last week. Ontario businesses were able secure contracts or memorandums of understanding for $2.5 billion in new business, which are expected to create 1,700 jobs across the province.
“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,” Wynne said.
Among the Ontario businesses taking advantage of the government-led networking event was Wing On New Group Canada Inc., a Markham, Ont.-based food and consumer products company, which signed three export agreements that totalled $230 million.
The Ontario cleantech industry also found success in Beijing. Fuel cell maker, Hydrogenics, signed four certified integrator agreements to supply fuel cell technology for zero-emission public transport buses. The company anticipates the opportunity could reach $100 million in revenue over three to five years, with approximately $10 million in the first year alone.
“China is an important and long-term partner for Ontario in trade development, investment attraction, and science and technology collaboration,” Michael Chan, Ontario’s Minister of Citizenship, Immigration and International Trade, said. “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.”
During the mission, Wynne also announced Ontario has hired a new agri-food trade advisor for Shanghai, who will assist Ontario food exporters boost their presence in China.