Liu Fei (right), consul general of China in Vancouver, sits with local media representatives at a press conference on Monday at the Chinese consulate in Vancouver. [Provided by Weiyuan Li]

China's Consul General in Vancouver Liu Fei met with the media on Monday at the Chinese consulate to discuss the current state of China-Canada bilateral trade, saying she expected the two nations' strong ties to grow even stronger.

Liu highlighted the importance of business, trade and economic cooperation between China and Canada, whose bilateral trade volume has been on the rise steadily in recent years. She also saw the potential for further expansion well into the future.

"The China-Canada bilateral relationship is playing a vital role in Canada's economy," Liu said. "Taking British Columbia as an example, about 20 percent of the province's trade activities were conducted with China and about 20 percent of the goods and services produced here were exported to China. I think the importance of our trade cooperation is quite self-evident."

In 2014, bilateral trade volume between China and Canada reached $55.2 billion — up 1.5 percent year-on-year, according to Chinese statistics. BC's trade volume with China has also gone up by 1 percent to a total of 17 billion Canadian dollars. China maintained its position as Canada's — and BC's — second-largest trading partner, source of imports and export market.

Liu also pointed out that as China now structures its trade policies with a clearer direction, the One Belt, One Road Initiative — especially the Maritime Silk Road — will offer numerous opportunities to Canada and Canadian businesses.

"British Columbia is known as Canada's Asia-Pacific Gateway, making the province one of the biggest beneficiaries of this greater connectivity," Liu said.

Over the past several years, BC's commodities exports to China were mainly resource products such as wood pulp, coal and copper. Liu pointed out that there are still plenty of trade growth opportunities in areas such as agriculture and high-tech.

"Canada has the need to export those products its domestic market can't consume to other countries and markets, and I believe China is an ideal fit for Canada to export to," she said.

"Another advantage that BC has is the fact that a large number of outstanding universities and scientific research institutions are located here, so Chinese enterprises and investors can cooperate with them in marketization of high-tech products," Liu told China daily.

"In fact, several Chinese companies have made their way to BC to explore the possibility of setting up incubators here," she added.

Chinese and Canadian enterprises have a fairly long track record of investing and operating in each other's markets. More than 13,000 Canadian companies have a presence in China and about 230 Chinese companies have offices set up in BC.

The China-Canada Foreign Investment Promotion and Protection Agreement (FIPA) was ratified in 2014 to better facilitate bilateral investments. Liu emphasized the importance of getting a China-Canada bilateral free-trade agreement in addition to FIPA.

"With such a huge amount of trade flow and so many Canadian enterprises doing business in China, a free trade agreement will be beneficial for both, and we are willing to work with the Canadian government towards signing the agreement."