China's Ministry of Commerce said on Friday the newly signed China-Canada Economic and Trade Cooperation Roadmap lays a solid foundation for elevating bilateral economic ties, outlining practical measures to strengthen trade, investment and multilateral engagement between the two countries.

The roadmap, signed during Canadian Prime Minister Mark Carney's first visit to China in eight years, represents a milestone under the framework of the new strategic partnership. 

According to an official of the Ministry of Commerce, it establishes a ministerial-level joint economic and trade committee to replace the previous deputy-minister-level mechanism, signaling a stronger institutional foundation for managing trade relations, resolving disputes and promoting dialogue on issues such as intellectual property and trade remedies.

The official highlighted that the roadmap systematically structures cooperation across eight key areas: bilateral trade mechanisms, overall economic relations, agriculture and food security, green and sustainable trade, e-commerce and trade promotion, facilitation of personnel exchanges, economic and financial cooperation and regional and multilateral trade engagement. 

It includes 28 specific initiatives covering both traditional sectors, such as energy, agriculture, consumer goods and small and medium enterprises (SMEs), and emerging fields, including new materials, advanced manufacturing, clean energy and green products, according to the official.

The official said these measures are designed to accelerate development and create a fast lane for China-Canada economic cooperation.

Reaching specific arrangements

China and Canada have reached specific arrangements to properly address trade issues related to electric vehicles, steel and aluminum products, canola, and agricultural and aquatic products, according to China's Ministry of Commerce.

The ministry stated that, in order to implement the important consensus reached by the two countries' leaders, both sides have recently conducted multiple rounds of intensive consultations at various levels, focusing on key economic and trade issues of mutual concern.

The two sides have also reached positive consensus on increasing direct flights, improving the business environment, and streamline the process for inspection and quarantine of agricultural products.

This marks an important step toward resolving bilateral trade concerns and represents a new starting point for deepening economic and trade cooperation.

Looking ahead, both sides will jointly implement the hard-won outcomes of these consultations, accelerate finalizing details, clarify timelines, develop action plans, expedite the completion of their respective domestic procedures and promote early implementation of the outcomes, the ministry said.

Furthermore, the two sides will fully leverage the China-Canada Joint Economic and Trade Commission mechanism to continue expanding cooperation, resolving issues, managing differences, and promoting the healthy, stable, and sustainable development of bilateral economic and trade relations, it said.

A positive step

When asked to elaborate on the Canadian side's statement to the media that it will make positive adjustments to measures concerning Chinese electric vehicles (EVs) exported to Canada, the official stated that China views this as a positive step taken by Canada in the right direction, and it is also good news for Chinese EVs to explore the Canadian market.

Back in 2024, Canada imposed an additional 100 percent tariff on Chinese EVs, which severely impacted China's EV exports to the country. According to the latest adjustment plan, Canada will grant an annual quota of 49,000 units for Chinese EVs. Within this quota, the vehicles will enjoy the Most Favored Nation (MFN) tariff rate of 6.1 percent, with the additional 100 percent tariff formally removed. The quota volume will increase annually at a certain rate.

The official noted that this move brings good news for Chinese EVs exploring the Canadian market. "We hope the Canadian side will actively fulfill its relevant commitments, continue to work with China in the same direction, and through friendly consultations, create a fairer, more stable and non-discriminatory environment for further expanding bilateral trade and investment cooperation in the EV sector. We look forward to industries from both countries seizing this opportunity, strengthening ties, and achieving mutual benefit and win-win results."

When asked for more details on the preliminary consensus reached between China and Canada on adjusting anti-dumping measures for canola – given Canada's concerns over its exports to China of products such as canola and agricultural aquatic products – the official noted that the two sides have conducted multiple rounds of consultations in a spirit of cooperation, striving to narrow down the list of outstanding issues.

Specifically, the official said, Canada will make positive adjustments to its unilateral measures targeting Chinese EVs, steel and aluminum products, as well as individual cases involving the investment and operation of Chinese enterprises in Canada. In response, and in accordance with relevant laws and regulations, China will adjust the anti-dumping measures on canola and the anti-discriminatory measures on certain Canadian agricultural and aquatic products that Canada has been concerned about.

The official added that these arrangements are expected to play a positive role in deepening relevant industrial cooperation between China and Canada and enhancing the well-being of the peoples of both countries.

(With input from Xinhua)