As a gateway location in the Pacific Time Zone, British Columbia is a key hub for Canada-China trade and a vital link between US and Asian markets.
British Columbia is Canada’s Pacific Gateway. Situated between the US and Asian markets, the province has unparalleled economic opportunities.
BC`s financial services help facilitate and finance the export of goods. With Canada being designated as a Renminbi settlement hub, BC will be able to build on its already strong trade relationship with Asia (largest volume of trade of any Canadian province).
One of BC’s principal strengths as a financial centre in Canada is its role in negotiating trade accounts vis a vis Canada’s trade with Asia. Trade transactions benefit from proximity to BC’s ports in order to move trade documentation to financial institutions for completion.
With increased investment and expansion into our ports, airports, rail and road systems, Vancouver has state-of-the-art systems in place for the movement of goods through North America – one of the province’s key competitive advantages.
British Columbia’s Asia-Pacific Initiative
The launch of the Asia-Pacific Initiative in 2007 marked British Columbia’s commitment to seize on its unprecedented position as Canada’s Pacific Gateway. The initiative focuses on boosting BC’s economic prosperity by increasing trade, investment and knowledge collaboration with the global economic drivers of the 21st century: China, India, Japan, South Korea and Southeast Asia.
The Asia-Pacific Initiative consists of five priority strategies:
- Build a global identity for Canada’s Pacific Gateway;
- Strengthen BC’s trade and investment relationships;
- Develop a world-class supply chain and gateway infrastructure;
- Develop and attract a labour force that has Pacific Century skills;
- Position BC as North America’s Asia-Pacific destination.
Learn more about the Asia-Pacific Initiative on the Province of British Columbia website.
- British Columbia actively promotes international trade with Asia, Europe and the United States. Learn more about British Columbia’s advantages, explore key industries and find out more about doing business in British Columbia.
- British Columbia has seven distinct regions. Some regions, like the Thompson-Okanagan, are agricultural centres. Others, like Northern BC are booming due to oil and gas exploration. There are three major city centres, including Vancouver and the Metropolitan area – home to more than two million people.
- For economic information specific to each of the different regions in BC, visit the community and regional profiles on Trade and Invest BC and WorkBC.