Premier Pat Binns has accepted Prime Minister Chretien's invitation to travel with other First Ministers and business leaders to China on the Team Canada Trade Mission. Binns leaves for Beijing on Friday, February 9th and returns on Sunday, February 18th.
"Team Canada is an excellent vehicle to increase business potential for our province. We saw our manufacturing exports increase by 32 percent last year, in part, because of initiatives like this one," stated the Premier. "This demonstrates that economic development cannot be achieved in isolation. As a government, we have a responsibility to market Prince Edward Island directly to the global marketplace."
China's economy is currently a robust one, boasting a growth rate of 8.1 percent. Economic modernization and restructuring continues in China, making the country a more open and easier place for business development.
"I am pleased that Holland College, Island Tel and the University of Prince Edward Island are all advancing initiatives in China. Currently, that country has an incredible demand for knowledge, and our partnering has enabled Prince Edward Island to take advantage of the tremendous opportunities available," noted Premier Binns.
During the Trade Mission to China, Prince Edward Island's major focus will be an education. Holland College will be entering into formal relationships with several Chinese colleges which will see Island business technology curriculum delivered in China.
The Premier will also be a signatory to an Agreement on Co-Development of Information Technology. The agreement brings together the Government of Hainan, the Haikou Jiangshan School in Hainan, the University of Prince Edward Island and the Government of Prince Edward Island in an effort to cooperate using information technology applications to spur economic growth in both jurisdictions.
The extent of trade from Prince Edward Island to China represents less than 1 percent of annual provincial exports. Premier Binns believes there is considerable room to grow.
"Our economy has become significantly more complex over the past number of years. No longer can we solely depend on selling traditional products to traditional markets. Given the current economic climate in China and its huge population base, I believe it can provide some of that opportunity," said Premier Binns.