The Canada-China business development landscape is extremely important for Canadian government relations. Currently, China is the world’s second largest economy and largest population, which makes increasing engagement with the country an important aspect of economic growth for Canada.
To solidify and continue the business relationship between the two countries, Canada’s Prime Minister, Justin Trudeau went on his first official visit to China to meet with business leaders. Among these leaders were China’s President XI Jinping and Premier Li Keqiang where both countries agreed to hold an annual leaders dialogue to discuss a number of sensitive issues.
Furthermore, Trudeau’s trade mission to China also saw 56 new commercial contracts and agreements signed between the two countries’ companies. These commercial signings were worth a total of $1.2 Billion CAD and reflect success stories for small and medium sized companies on the world stage.
Kryton International Inc. has had a regional office in Beijing, China for over 10 years, and was in fact part of former PM Stephan Harper’s trade mission in November of 2014. Of the 56 new commercial contracts signed during the event, Kryton-China was a part of two. The first was a contract for $1-million with Beijing Maple Real-estate Co., Ltd for the use of Kryton’s concrete waterproofing system. A contract between Kryton and Maple Real-Estate was also done in 2014.
The other contract was a $2-million agreement was with Beijing Science Park Development (BSD) and the Tianjin Economic-Technological Development Area (TEDA) also for the use of Kryton’s concrete waterproofing system. TEDA is one of China’s most important economic centers and is directly under the central government. In the past 20 years, TEDA has seen booming development and is expected to do so in the future.
Currently, Kryton-China is on pace to have one of its most productive years in the last decade. With partnerships like these two agreements, as well as the working relationship between Canada and China that is only becoming stronger, the outlook for Canadian manufacturing companies in China is concrete.