To strengthen bilateral economic ties between Greater Montréal and Shanghai
Montréal, November 2, 2015 – Montréal International (MI) and Invest Shanghai, the economic development agency of Shanghai, announced today the signing of a memorandum of understanding to promote and strengthen bilateral economic relations between Greater Montréal and Shanghai.
The agreement was signed during a trade mission to China from October 30 to November 6, led by Denis Coderre, Mayor of Montréal and President of the Communauté métropolitaine de Montréal.
“Shanghai and Greater Montréal have solid business ties, backed by 30 years of twinning and several cooperative agreements with Québec, the only Canadian province to have such agreements with China,” said Mayor Coderre. “The signing of this memorandum of agreement between Invest Shanghai and Montréal International, which will spur joint efforts to promote and attract foreign direct investment, is a further strategic step in building lasting economic relations between our two cities,” added Mr. Coderre.
Investors from China have become key players in the region according to Montréal International, Greater Montréal’s investment promotion agency. “The Asian market holds great opportunity for creating wealth and prosperity for Greater Montréal,” said Louis Arseneault, Vice President – Talent Attraction, Promotion and Communications, Montréal International. “Ongoing collaboration with Invest Shanghai will enable Montréal International to further promote the region to China, a key player in the world economy and will in turn increase the interest of Chinese investors, skilled workers and students in Montréal,” added Mr. Arseneault.
China is Greater Montréal’s number one trading partner in Asia, with some $2.8 billion in Québec exports. Shanghai, the most populous city in China—with a population of 23 million— is home to many Québec and Montréal subsidiaries such as Bombardier, and a number of local businesses, such as Fosun Group and COMAC, that already have trade ties with Greater Montréal.
About Montréal International (www.montrealinternational.com)
Montréal International (MI) acts as an economic driver for Greater Montréal to attract foreign wealth while accelerating the success of its partners and clients. Its role is to attract foreign investment, international organizations and skilled workers to Greater Montréal, and promote the region’s competitive environment. MI also works to find the best ways to position the region as an attractive investment destination, and make recommendations to various levels of government to support Québec’s job-creating, high-value-added industries.
Created in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community) and the City of Montréal.
To view the Greater Montréal interactive business map, go to: montrealinternational.com/business-map/
To join Contact MTL, the Greater Montréal ambassadors network, go to: contactmtl.com