CANADA, June 11 - The Premier’s trade mission to Asia is bringing back new opportunities to grow a stronger, more diversified economy and create good jobs throughout the province.
The 10-day economic tour promoted British Columbia’s strengths as a reliable trade partner that has what the world needs — from critical minerals and clean energy, to forestry and agriculture products, and the ports to deliver them.
“This mission was about supporting B.C. jobs and building a British Columbia that will be the economic engine of a more independent Canada,” said Premier David Eby. “Our trade relationships with the Indo-Pacific are exceptionally important right now, as we work to diversify our markets and become less reliant on the United States. B.C. has a lot of advantages – our proximity to Asia, our abundance of natural resources, our talented and diverse workforce. These are all things that the world needs, and it was a great opportunity to showcase that to key trade partners.”
During the mission, which included stops in Japan, Malaysia and South Korea, Premier Eby was accompanied by Lana Popham, Minister of Agriculture and Food, and Paul Choi, parliamentary secretary for Asia-Pacific trade.
Representatives from 19 B.C. companies, universities and associations were part of the business delegation. The trade mission focused on strengthening relationships with governments, business leaders and investors, as well as promoting B.C.’s strengths in key sectors, such as clean energy, technology, wood and wood products, agrifood and critical minerals.
Many of the meetings focused on B.C.’s plans to work with Japan, Malaysia and South Korea to support their energy transitions through opportunities in clean energy. For example, Premier Eby met with the Japan Organization for Metals and Energy Security (JOGMEC) to follow up on a renewed memorandum of understanding signed in 2023, and explore ways to grow trade and unlock new sources of energy, such as hydrogen. In Malaysia, he met with Petronas to discuss opportunities in clean energy, such as wind power and green mobility and liquefied natural gas (LNG), with exports from B.C. to Asia beginning this summer. In South Korea, he met with Samsung E&A to discuss additional business opportunities in carbon capture, utilization and storage technology with B.C.
The mission also focused on promoting B.C.’s safe and sustainable agrifoods products. Popham met with more than 20 influential agrifoods retailers, wholesalers, regulators and importers, including Costco Japan and Sojitz Foods in Japan, Halal Development Corporation in Malaysia, and Daesang and Emart Traders in South Korea.
“The one constant I heard in Japan, Malaysia and South Korea is how respected and trusted B.C. is as a source for high-quality food,” Popham said. “I was proud to build relationships and share the stories behind our province’s food. There was lots of excitement about bringing more B.C. products overseas, and I look forward to seeing the results.”
Advancing information sharing and knowledge exchange was also a key component of the mission. Multiple agreements were signed between B.C. and Korean universities. For example, the University of British Columbia and Simon Fraser University signed memorandums of understanding with Pohang University of Science and Technology to promote joint research, faculty and student exchanges and collaborative innovation.
“We are extremely confident that our trade mission to Japan, Malaysia and South Korea will strengthen existing relationships and generate new opportunities across the region,” Choi said. “British Columbia has a highly efficient network of trade and investment representatives throughout Asia, as well as the products and services that the growing Asian economies need. We will continue to promote our advantages as a key trading partner with our friends in the Asia-Pacific region to grow our trade presence there.”
The mission is part of B.C.’s Trade Diversification Strategy, which outlines actions to increase trade and investment opportunities in existing markets, such as Japan and South Korea, as well as in new and emerging markets, such as Malaysia.
Quick Facts:
- Japan and South Korea are B.C.’s third- and fourth-largest export markets, respectively.
- Top B.C. exports to South Korea and Japan include steel-making coal and copper.
- Malaysia is an emerging market for B.C., with $162 million in exports in 2024, and is an important partner in the Association of Southeast Asian Nations (ASEAN).
Learn More:
To read the Trade Diversification Strategy, visit:
https://www2.gov.bc.ca/gov/content/employment-business/international-investment-and-trade/trade-diversification-strategy
For more about the StrongerBC Economic Plan, visit:
https://strongerbc.gov.bc.ca/economic-plan/
For more about trade and investment in B.C., visit: www.britishcolumbia.ca
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