Canada-China trade deal extended to end of 2028, seafood sector welcomes access
Canada and China extend favourable market access for canola meal, peas, lobster, crab, steel and aluminum through 2028.
KEY POINTS
- Canada and China extend market access for canola meal, peas, lobster and crab until end of 2028
- Canada grants access for certain Chinese steel and aluminum products in return
- Trade Minister Maninder Sidhu announced the extension on November 4
- Newfoundland and Labrador seafood industry welcomes continued Chinese market access
- Chinese Vice Premier He Lifeng to visit Vancouver on November 8 and 9
Canada and China have extended a January trade agreement that grants favourable market access to Canadian canola meal, peas, lobster and crab exported to China until the end of 2028.
In return, Canada agreed to allow certain Chinese steel and aluminum products into its market. The original deal was negotiated by Prime Minister Mark Carney and Chinese President Xi Jinping during Carney’s visit to China and was due to expire at the end of this year.
“This extension gives Canadian farmers, producers and harvesters stable access to China and supports billions in export opportunities.”
Trade Minister Maninder Sidhu announced the two-year extension on November 4, saying it gives Canadian farmers, producers and harvesters stable access to China and supports billions in export opportunities.
The seafood industry in Newfoundland and Labrador welcomed continued access to Chinese markets but said it hopes to see more done to boost export values.
The announcement comes ahead of Chinese Vice Premier He Lifeng’s planned visit to Vancouver on November 8 and 9, and Prime Minister Carney’s expected trip to Shenzhen later this month for the Asia-Pacific Economic Co-operation summit.
Sidhu will welcome He alongside Finance Minister François-Philippe Champagne, and events are planned around the visit.
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