Friday, September 23, 2016

China and Canada have a canola deal

Canada and China have agreed on a long-term solution to a trade dispute over $2-billion worth of annual canola sales.

Sources close to the talks say the key issue of dockage remains unchanged at up to 2.5 per cent; China had announced a reduction to one per cent, effective Sept. 1.

The solution is “predictable, science-based and stable,” ensuring access for Canadian shipments to China, Canadian Prime Minister Justin Trudeau said in Ottawa at a joint press conference with Chinese Premier Li Keying.

China which has said it was concerned about blackleg disease.
Li said the agreement runs until 2020, and in the meantime, the countries will study the risk dockage may pose, he said.

“For China, we have pretty sufficient amount of time to increase the quality of exports to China,” Li said through an interpreter.

“That agreement is in the larger picture of Canada-China relations.”