Released on January 20, 2005
Industry and Resources Minister Eric Cline is now in China for the Prime Minister's Team Canada mission after finishing the Japan leg of his trade and investment attraction mission to Asia."Economic growth as a result of new or enhanced partnerships warrants face to face meetings in which we say 'Saskatchewan is a great place for your investment and we value your business'," Cline said. "Strengthening our ties with Japan and China is a long-term project to which our government and business community are very committed."
While in Tokyo, Cline promoted the province's uranium industry in meetings with Tokyo Electric Power Corporation (TEPCO), Japan Canada Uranium (JCU), and Overseas Uranium Resource Development (OURD). The three companies have significant investments in Saskatchewan uranium exploration and mining.
Cline also met with Hitachi Ltd. in Tokyo. Over the past several years Hitachi Ltd.'s subsidiary, Hitachi Canadian Industries Ltd. (HCI), has invested millions of dollars in its Saskatoon manufacturing plant. HCI has recently completed an expansion of its facility and has been steadily increasing its workforce since 2004.
Today, Cline and the Saskatchewan delegation on the Team Canada mission met with the China National Petroleum Corporation (CNPC), the 10th largest petroleum company in the world. In December, a subsidiary of CNPC signed a research agreement with the Petroleum Technology Research Centre in Regina.
Japan and China represent important economic opportunities for Saskatchewan. Japan recently announced an ambitious nuclear power program that could benefit Saskatchewan uranium producers. China's economy has grown by more than 50 per cent since 1997, and has experienced growth in almost every sector. Japan is Saskatchewan's second largest export market and China is the third largest.
"The culmination of this and previous meetings between China and the province will be agreements to collaborate on research and business opportunities worth millions to Saskatchewan," Petroleum Technology Research Centre Executive Director Mike Monea said.
"This trade mission allows us to showcase the competitive advantages of Saskatchewan companies and helps us establish new relationships in expanding markets for everyone's benefit," Cameco Corporation Vice-President Corporate Development and Power Generation Vern Kiss said.
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For More Information, Contact:
| Bob Ellis Industry and Resources Regina Phone: (306) 787-1691 |