Visiting Chinese Premier Wen Jiabao said in Ottawa Thursday that China would make joint efforts with Canada to further promote trade and economic cooperation between the two countries.  

"China-Canada trade and economic cooperation is making solid headway," Wen said in a speech delivered at a luncheon hosted by the Canada-China Business Council.

"Our stronger ties of trade and economic partnership not only serve the fundamental interests of our two countries, but contribute to peace and development in the Asia-Pacific region and the world at large," he said.

Wen listed four areas in which the two countries should work together to bring their economic partnership to a higher level.

First, the volume of two-way trade should be increased, the Chinese premier said. ,

While China is expected to import over US$1 trillion worth of goods in the next three years, it wants to import more from Canada, especially "more telecommunications equipment and other hi-tech products."

At the same time, he said, China hopes Canada would continue to import textiles and other light-industrial products from China while increasing purchases of China's machinery, household appliances and other products.

China hopes that bilateral trade would be doubled by 2010, he said.

Secondly, the two countries should expand investment cooperation in such fields as energy, transportation, telecommunications, environmental protection, agriculture, biology, raw materials, finance and insurance.

The two countries should also diversify the means of cooperation, said the Chinese premier. "For example, in addition to our mutual investment, we may make more joint investment in third countries."

Thirdly, interactions between the business communities of the two countries should be strengthened, he said. Canadian entrepreneurs are welcome to participate in the development of China's western region, the overhaul and revamping of China's Northeast and other old industrial bases, as well as the renovation and reorganization of China's state-owned enterprises.

Chinese entrepreneurs are also encouraged to invest and seek business expansion in Canada, he said.

Fourthly, the two countries should promote exchanges in science, technology, education, human resources and culture, Wen said.

The new team of the Chinese leaders attaches great importance to China-Canada relations and looks forward to working together with the new Canadian leadership headed by incoming Prime Minister Paul Martin "in cultivating a richer and more substantive partnership of all-round cooperation between the two countries," Wen said.

Wen arrived here Wednesday evening for a two-day official visit to Canada at the invitation of Canadian Prime Minister Jean Chretien, who paid six visits to China during his 10-year premiership.

(Xinhua News Agency December 12, 2003)