Canada and China sign multi-billion dollar agreement

Canada and China sign multi-billion dollar agreement
Thursday, February 9, 2012 - 10:59am

Canadian companies and China signed 23 agreements thursday worth nearly 3 billion dollars. Canada's Prime Minister and Chinese Vice Premier Li Keqiang witnessed the signings at a business forum in Beijing. Businesses involved include aircraft and train builder Bombardier Inc and Telecom Companies Telus Corp and Bell Canada.

Canadian Prime Minister Stephen Harper praised the development of stronger relations with China. Chinese state-owned companies have invested more than 16 billion dollars in Canadian energy over the past two years. China hopes for a steady supply of fuel from Canada to support its booming economy. Canada has the world's third largest oil reserves behind Saudi Arabia and Venezuela.

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