HONG KONG, CHINA (September 20, 2012) – Premier Bob McLeod, MLA Robert Hawkins, Chair of the Standing Committee on Economic Development and Infrastructure, and the NWT business delegation met with potential Chinese investors and business partners to discuss ways to diversify the NWT economy and keep the territory prosperous. The meetings have focused on the potential for developing the Chinese markets for the NWT’s wild fur, oil and gas.
“Relationships and transparency are key to Chinese investors,” said Premier McLeod. “Every meeting we've had has focused on building relationships with Canadians and Canadian companies. We have spoken about how Chinese investment could strengthen and diversify our economy: investments in hydro initiatives, socially responsible and environmentally sustainable mining, and the NWT’s traditional economy will provide all communities and regions with opportunities and choices. I share their desire to maintain relationships with political and business leaders; it has been key to my approach as Premier and it will benefit all sectors of the NWT economy. We’ve seen good interest in our oil and gas resources and our mineral resources, including some positive developments for Avalon Resources. And I’m pleased about the excitement I’ve seen here about NWT wild furs.”
China is the world’s lead manufacturer of fur garments and has a high demand for the NWT’s natural, high-end wild fur. NWT fur is always in high demand at auctions, with China as one of the top buyers. Demand from China has been increasing year after year, with buyers interested in mink, marten, arctic fox and red fox.
While in Hong Kong, Premier McLeod and the NWT delegation have held meetings with representatives of the tourism, financial, and jewelry industries. The premier also participated in a briefing with Canada’s Consul General and in a wreath-laying ceremony at Sai Wan War Ceremony.
Earlier this week, Premier McLeod witnessed an agreement signed between the NWT’s Ice Wireless, Iristel and Huawei Canada to enter into a multi-year, multi-million contract to provide 3G cellular services to rural and remote communities in the Northwest Territories and toured the Huawei research and development facility. Improved access to broadband Internet would significantly improve health, education and business services throughout the Mackenzie Valley, and pursuing investments in a Mackenzie Fibreoptic Link is a priority for the 17th Legislative Assembly.
The Premier also visited the Suntech solar panel manufacturing facility in Shanghai. Suntech is a world-leading solar energy company that designs, develops, manufactures and markets high-output, cost-effective solar products for electric power applications. Exploring the use of environmentally-friendly alternative energy solutions is part of the Government of the Northwest Territories’ ongoing commitment to reducing our dependence on imported diesel and lowering our greenhouse gas emissions.
The 2012 Trade Mission to China is an initiative of the Council of the Federation (COF). Objectives include:
- Building and deepening productive relationships between provincial/territorial governments, businesses and educational institutions and counterparts in China;
- Advancing and creating trade and investment opportunities in key sectors of importance to provinces/territories and to China; and
- Demonstrating to China’s business and political leaders that Canada’s provinces and territories value their collective and unique relationships with China.
For more information, contact:
Megan Holsapple
Media Liaison
Office of the Premier and Executive Council
Government of the Northwest Territories
Tel: (867) 669-2302
Fax: (867) 873-0111