N.W.T. delegation seeks Chinese investment
N.W.T. Premier Bob McLeod hopes China will become the key to improving the territory's economy.
McLeod is part of delegation from the territory visiting China this week.
The group is marketing Northwest Territories furs, diamonds, tourism and natural resources.
China currently buys 70 per cent of the Northwest Territories furs and the country is growing, with a huge demand for natural resources.
McLeod says right now, the Northwest Territories is the only Northern territory without Chinese development.
"They don't know much about the N.W.T., our investment policies," he said. "They don't know what our taxation policies are. They're not familiar with specific projects that they can get involved with. So that's why we thought it was very important to invite mining companies that are looking for Chinese investment to come with us."
The group's activities have included meeting with Chinese officials and attending the Beijing Fur Fair, the International Fur Trade Federation forum and an NWT Tourism luncheon.
McLeod says the delegation is also learning how to tap into the Chinese tourist market. About 400,000 Chinese tourists visited Canada last year, but few came North.
McLeod says they like what the Northwest Territories has to offer, including the Northern lights, outdoor activities and wildlife.