Chinese Vice Premier He Lifeng is scheduled to visit Vancouver on November 8 and 9, with the goal of advancing economic cooperation with Canada. The visit comes ahead of Prime Minister Mark Carney's trip to China for the Asia-Pacific Economic Cooperation (APEC) leaders' summit.
What happened
The federal government announced the visit, which will include discussions under the Canada-China Economic and Financial Strategic Dialogue. Bank of Canada Governor Tiff Macklem and Superintendent of Financial Institutions Peter Routledge are expected to participate. He's visit follows Minister of International Trade Maninder Sidhu's trip to Beijing, where he negotiated an extension of a tariff-relief arrangement with Chinese Commerce Minister Wang Wentao.
The tariff-relief deal, which was set to expire by the end of the year, will now be valid through the end of 2028. The agreement includes the suspension of tariffs on Canadian peas, lobster, crab, and canola oil, as well as reduced tariffs on Canadian canola seed. In return, Canada will maintain tariff exemptions for certain Chinese steel and aluminum products and allow the import of up to 49,000 Chinese-made electric vehicles annually at a reduced tariff rate.
The visit is part of a series of diplomatic efforts between Canada and China, including Prime Minister Carney's successful visit to China in January and Minister Champagne's productive visit in April. The Canadian government hopes to "advance economic cooperation" with China during the visit.
