CRI听力:Analysts: more opportunities ahead for Canada, China

China and Canada have announced the first steps toward the possible creation of a bilateral free-trade agreement.

Canadian MP Geng Tan, the first Chinese-born member of parliament with Trudeau's ruling Liberals, says the idea of a free-trade agreement comes at a time when Canada's economic growth has been somewhat stagnant in recent years.

"Canada has fallen behind, in terms of trade, in terms of relations, in terms of import and export. And for the past ten years, we didn't do much to promote the bilateral relationship with China."

Chinese and Canadian firms have already signed deals worth more than a billion US dollars earlier this month at the G20 in Hangzhou, covering everything from seafood to clean technology.

Pedro Antunes is the deputy chief economist of the Conference Board of Canada, which is the Canadian government's senior economic think-tank.

He argues more ties with China makes sense for Canada at the moment.

"If you see continued demand of 6.5 percent - let's say, if that's the new growth path for China - that's still a very strong opportunity for Canada. And I would argue that there are lots more that can be done."
 
Chinese acquisitions in Canada have hit roadblocks in the past, including the 14.5-billion US dollar Chinese takeover of Canadian oil sands company Nexen, which did eventually go through.

The previous Canadian administration under Conservative Stephen Harper set limits on Chinese access to the Canadian market, something the current Trudeau administration is considering adjusting.

Pedro Antunes with the Conference Board of Canada says he believes this might be the right time for the Chinese government to press this issue with the Trudeau government.

"I think we are opening up more and more and realizing that in fact some of these mergers and some of the acquisitions are essentially to look for opportunities in Canada."

Despite a broader downturn in global trade, the movement of goods and services between China and Canada bucked that trend.

Chinese investment into Canada increased by some 126-percent last year.

Beyond trade, Chinese Premier Li Keqiang and Justin Trudeau have also discussed the idea of creating an extradition treaty between the two countries.

This may be a more difficult task to achieve, as Canada has remained steadfast in its policy of not extraditing criminal suspects to countries who have the death penalty, unless the Canadian side has been given an assurance the suspect will not be put to death.

As such, Canada is high on the list of destinations where Chinese criminal suspects choose to flee.

At this month's G20, the two sides did announce the creation of annual meetings between the two sides to discuss security issues, as well as and economics.