TRADE and investment between Canada and Malaysia are growing, with the bilateral merchandise trade amounting to almost RM11bil in 2016.
Canada’s High Commissioner to Malaysia Judith St George said the trade was largely in Malaysia’s favour by 3:1.
“It has been growing modestly in the last couple of years,” she said during a press con-ference at G Hotel Kelawai on Thursday.
She had earlier attended a Canadian Cleantech Partnering seminar at the hotel, with industry representatives from Canada who presented their capabilities to the local participants on the cleantech sector.
Cleantech, or clean technology, refers to technologies that maximise the use of resources and reduce or eliminate negative environmental impact.
St George said several Canadian companies which came to Malaysia recently, had grown their business quickly.
Citing an example, she said Sun Life Financial Inc, a Canada-based insurer, was doing well although they only entered the Malaysian market some three years ago.
“It is very strong and well-represented throughout the country.
“Another instance is The Royal Bank of Canada in Cyberjaya, which has grown its workforce from zero seven years ago to nearly 1,000 presently.
“These are the kind of investors that we see coming in,” she added.
“What is encouraging is that they are very pleased with their investment and support they get from the various government agencies,” she said.
St George said they would continue to promote Malaysia and make sure the Canadian companies were aware of the opportunities here and vice versa.
“Our challenges is to get more in. Once they come here, I am sure they are interested to stay or expand their business.
“Likewise, we hope the Malaysian companies will think of Canada as well, when they make their decision on business opportunities,” she added.
Also present was Canada’s honorary consul-general in Penang Datuk Tan Yew Thong, who said Malaysia exported a lot of electronic components and palm oil to Canada.