Plenty of opportunities for trade in natural resources with South Korea: minister
by Canadian Manufacturing Daily Staff
Focused on importance of LNG exports to world's second-largest importer
VANCOUVER—Speaking to a group of business leaders in the local Korean business community, Canada’s minister of natural resources pushed for boosting two-way trade with South Korea.
“Our government recognizes that exports to South Korea are an important contributor to Canada’s prosperity. We have made tremendous progress in trade, investment and scientific innovation,” Minister Joe Oliver said in his speech in Vancouver.
“We are aggressively pursuing agreements with countries in the Asia-Pacific region that permit Canadian businesses to compete in this fastest-growing region of the world.”
With the federal government making a priority of enhancing international relationships to increase opportunities for Canada’s natural resource sectors, Oliver highlighted the importance of the export of liquefied natural gas (LNG) to South Korea, the world’s second-largest importer of LNG.
According to Oliver, as Canada becomes a major source of LNG, the expanding economies of Asia become obvious markets.
He also spoke to the success of Canadian and South Korean companies and promoted Canada as an ideal destination for further South Korean investment.
“Today, South Korea is Canada’s seventh-largest trading partner, with two-way trade of more than $10-billion,” Oliver said. “We are strengthening our bilateral strategic relationship to encourage trade, investment and technological innovation in the natural resource sectors.”