The government wants to increase the impact of Canadian businesses in Asia.
Trudeau's Asia strategy will allow Canadian companies to continue to engage with China, alleviating fears that the West's decision to go on the offensive against Beijing could force multi-national companies to abandon an economy that is on.
"I will continue to support businesses that are operating in China, but we also want to diversify our supply chains."
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The government would make sure that Canadian businesses got the right advice about doing business in China.
The document, which has been in the works for at least two years, comes at a time when the United States and its democratic allies are at odds with the Chinese regime, which has adopted a more authoritarian stance.
The Trudeau government said it will spend $2.3 billion over the next five years to deepen its ties with a region that is expected to host a third of the world's middle-income population. The Canadian navy will be able to participate in regional military exercises because of the money.
Team Canada trade missions, which were a feature of Jean Chrétien's trade policy in the 1990s, received 45 million dollars in funding.
The government wants to increase the impact of Canadian businesses in the region.
According to the strategy, China's rise has had an enormous impact on the region. Climate change, biodiversity loss, global health and nuclear proliferation are some of the issues that need to be addressed by the country.
The president of the Business Council of Canada said he was happy the government didn't ask the business community to avoid specific nations. He said that it would have been detrimental to the customers.
After the federal government raised the bar for foreigners to join Canada's critical industry under the Investment Canada Act, three Chinese companies were forced to sell their investments in three Canadian junior lithium miners.
The decisions were made after a speech by the deputy prime minister in which she endorsedfriendshoring, a concept introduced by the U.S. treasury secretary that would see democratic nations attempt to ostracize countries such as China and Russia by using trade agreements and regulation.
Canada will continue to strengthen its defence against foreign interference while continuing dialogue with China, butfriendshoring isn't mentioned in the strategy.
Carlo Dade is the trade director at the Canada West Foundation, a think-tank.
You run into China if you try to flee.
Carlo Dade is the trade director.
I would give them an 'A' on China. Even if you run away from China, you still run into it. It's important to understand how China's policies affect the countries you're trying to trade with.
It's not about trying to sell stuff to China, it's about trying to survive in a region where China is the dominant economic influence
Hyder wondered if the Trudeau government had done enough to make a difference. The omission of Canada's natural gas projects from the strategy was a big miss.
Hyder said that the prime minister and deputy prime minister both said that they needed to identify and expedite projects to get resources to markets to help other countries decarbonize. This was a chance to send a message, but it didn't work out.
While the strategy does include a $13.5-million investment over five years to expand its natural resource ties with the region, Hyder called the amount "a raindrop falling in the ocean."
The president of Rideau Potomac Strategy Group, Eric Miller, agreed with Hyder. He said it looks like the Canadian government doesn't want to face environmental groups and tell them "we don't have enough renewables in place" to offset the use of coal.
Many in the oilpatch argue that Canada is missing out on an opportunity to supply Asia's transition to renewable energy because it doesn't use natural gas.
She was willing to discuss the issue with stakeholders.
The first Team Canada mission was to China. The idea lost its appeal due to the missions being seen as boondoggles that achieved little.
Hyder said that in many Asian countries politicians can open doors that executives and entrepreneurs can't.
The India desk and $24.1 million over five years to establish a "Canadian trade gateway" in Singapore are two of the initiatives contained in the Indo- Pacific Strategy.
It's important for Canadian businesses to have a base in Southeast Asia to be able to access that market.
Analysts were wary of the government's willingness to see through the strategy. StephenHarper was inconsistent in his dedication to the region. Trudeau said on the night he was elected that Canada would return to the world stage, but when Donald Trump threatened to end the North American Free Trade Agreement, the government focused on little else.
We show up and disappear, that's our reputation around the world. There needs to be an indication that the strategy will last at the provincial and federal level.
Miller said that an attempt to do more trade with Asia was good but there needs to be more experimentation. He said that it was not just about trade missions.
The email address is nkarim@postmedia.