The first round of China-Canada Economic and Financial Strategic Dialogue is to kick off next week in Beijing, Foreign Ministry spokesperson Hua Chunying said on Wednesday.
The dialogue, scheduled for Nov. 12, will be co-hosted by Chinese State Councilor Wang Yong, Canadian Finance Minister William Morneau and Canadian Minister of International Trade Diversification James Carr, Hua told a routine press briefing.
Officially launched in 2017, the dialogue is intended for China and Canada to carry out regular dialogue over issues of strategic, overall and long-time interest in economic and financial sectors, the spokesperson said. The dialogue is aimed at deepening pragmatic cooperation in economic and financial sectors between the two sides, strengthening communication and coordination over international economic and financial issues of great significance, and promoting the healthy and sustained development of China-Canada strategic partnership, Hua added.
As agreed by the two sides, the first round of dialogue will include discussions about the macroeconomic situation and global economic governance, cooperation on trade and investment, financial cooperation and other relevant issues. Canada’s pursuit of deeper trade ties with China will not be hindered by the USMCA pact, as Ottawa seeks to make the Asian superpower an “essential component” of its trade diversification strategy, International Trade Diversification Minister Jim Carr said Monday. Asked about a controversial clause in the USMCA that would give any party the option to leave the pact with six months’ notice if another enters a free trade agreement with a non-market economy - widely believed to be China - Carr insisted “it doesn’t change anything.” The clause has fuelled worries that Washington, currently engaged in a trade war with Beijing, will attempt to interfere in Ottawa’s trade relationships.