China and Canada agree to double trade revenue by 2025

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China and Canada agreed on Monday in Beijing to double their trade revenue made in 2015 by 2025 with a focus on agricultural products.

The two countries reached agreements in trade, global governance and investment during the first China-Canada economic and financial strategic dialogue held in Beijing on Monday, according to Xinhua.

The two countries may reach a full-scale trade deal, Canadian International Trade Minister Jim Car said after the meeting, Canadian media Financial Post reported on Monday.

Although there are concerns in Canada raised over a clause in the new US-Mexico-Canada (USMCA) trade agreement that entry by any party into a free trade agreement with a non-market economy, widely regarded as referring to China, allows the other two parties to terminate the USMCA, the two countries seems confident in their potential for trade cooperation.

Finance Minister of Canada, Bill Morneau, who also attended the bilateral dialogue, said the talks were productive, and those talks will continue regularly to keep the momentum going, according to Financial Post.

China is the second largest trading partner of Canada and trade with China accounts for 8.4 percent of Canada's total trade revenue in 2017.

Canadian companies secured more than one billion US dollars in agreements in the China International Import Expo last week, according to Financial Post.