Caron told the Canada-Tianjin Economic and Trade Cooperation Conference in Tianjin on Thursday that Canada attached great importance to economic and trade cooperation with Tianjin, which played an important role in the development of Sino-Canadian relations.

The Sun Life Assurance Company, the largest insurance company in Canada, joined with the Everbright Group of China to set up the first Sino-foreign life insurance company in north China, Sun Life Everbright Life Insurance Co., Ltd., in Tianjin last April.

By the end of 2002, Tianjin had approved 394 Canadian-funded enterprises involving a total investment of 600 million US dollars. Tianjin's import and export volumes with Canada totaled 200 million US dollars last year.

Canada exported 2.56 billion US dollars worth of goods to China and imported 10.1 billion dollars worth last year.

Keith Bradley, vice-president of the Canada-China Business Council, said a trade representative office would soon be established in Tianjin.

(Xinhua News Agency February 28, 2003)