Minister of Transportation and Infrastructure Shirley Bond and Pacific Gateway partners met with shipping lines, steel, and chemical producers in Korea today. They are in Asia to promote the Pacific Gateway and generate new and expanded trade opportunities for
B.C.

"Hyundai Merchant Marine, Hanjin Shipping, POSCO (Pohang Iron and Steel Company) and OCI Chemicals all confirmed to our trade mission that they value Canada's Pacific Gateway as a unique and powerful collaboration," said Bond. "Asian business is telling us that the Pacific Gateway is their best route to Asia and they want to send more business our way."

Bond and officials from Pacific Gateway partners Port Metro Vancouver, Port of Prince Rupert, CN, CP, Vancouver International Airport and BNSF are in South Korea on a trade mission to strengthen business relationships and promote Canada's Pacific Gateway's position as the preferred supply chain for trade between Asia and
North America.

"Working in this partnership gives us the strength of our partners and the $22 billion Pacific Gateway is investing in B.C.'s economy," said Robin Silvester, president and CEO, Port Metro Vancouver. "One of the things we heard from shipping lines was how unique it is to have collaboration between ports, government and railways. We are here together to talk about the efficiency, capacity and the opportunities available through the Pacific Gateway in British Columbia."

Korean shipping executives confirmed that despite the crisis in the world economy in 2009, their third quarter of trade in 2010 was the best ever. B.C.'s balance of exports and imports with South Korea make container traffic through B.C. ports highly cost-effective.

"I met with POSCO, the world's fourth-largest steel producer. Their executives said they are very happy with B.C.'s level of service, especially compared to our major overseas competitors," said Bond. "POSCO is already getting 20 per cent of their coal from B.C. and plans to increase this business area by 15 per cent annually."

Mission partners also met with a company interested in an emerging opportunity to substitute B.C.'s wood pellets for thermal coal in South Korea. This company has identified seven B.C. companies as being potential sources for future wood pellet production, and has begun discussions with two of them. This green renewable energy source will get carbon credits from Korea's government in 2012.

"I'm delighted by our first day's progress," said Don Krusel, president and CEO of the Prince Rupert Port Authority. "I am getting great feedback from Korean businesses about the advantages to be realized through Canada's Pacific Gateway, and its ability to accommodate the growth and expansion of trans-Pacific trade.