FKCCI Agrees to Establish Private Cooperation Channel with Canadian Chamber of Commerce

[Asia Economy Reporter Park Sun-mi] The Federation of Korean Industries (FKI) has agreed to establish a private cooperation channel between the two countries in collaboration with the British Columbia Chamber of Commerce (BCC) of Canada.

On the 26th, FKI announced that Vice Chairman Kwon Tae-shin met with BCC Chairperson Goldie Hyder, who was visiting Korea, and reached this agreement during a courtesy call and luncheon.

At the meeting, Vice Chairman Kwon said, “Although the two countries have mutually complementary industrial structures, opportunities for cooperation have been fewer than expected. Through cooperation between FKI and BCC, we will create a platform for substantive discussions on private sector economic cooperation between the two countries.” In response, BCC Chairperson Goldie Hyder stated, “Amid the spread of protectionism, ties with Indo-Pacific countries that share open economies and democratic values are important. Exchanges between Korean and Canadian businesspeople will be an essential element of a successful economic cooperation relationship between the two countries.”

In particular, at this meeting, Vice Chairman Kwon expressed gratitude for Canada’s support of Korea’s accession to the CPTPP and agreed to continue working together toward Korea’s actual accession in the future. Additionally, the two organizations agreed to cooperate regularly by dispatching delegations and holding regular meetings to promote collaboration between companies in advanced industries such as automobiles, renewable energy, and IT.

The two organizations have been unofficially in contact over the past few years to discuss establishing a bilateral cooperation channel. Notably, through the 17th Korea-Canada Forum (2020), they agreed to conduct research to identify current issues and areas of cooperation in the economic sectors of both countries and shared the results of their respective studies.

An FKI official stated, “Around autumn, the two organizations plan to continue consultations to promote a Korea-Canada CEO Dialogue within the year, involving businesspeople from both countries.”