Memorandum of Understanding to Strengthen Trade and Investment Opportunities
Between Newfoundland and Labrador and Zhejiang Province in China

In support of partnership and trade opportunities between Newfoundland and Labrador and the Zhejiang Province of China, a Memorandum of Understanding (MOU) has been reaffirmed during the Newfoundland and Labrador trade promotion and investment attraction mission to China. The Memorandum of Understanding was signed by the Honourable Kathy Dunderdale, Premier of Newfoundland and Labrador, and Governor Li Qiang representing Zhejiang Province. The signing ceremony took place today in Hangzhou, Zhejiang.

“The cooperation between provinces will promote opportunity for improved collaboration and exploration of trade and investment opportunities in key sectors between Newfoundland and Labrador and the Zhejiang Province in China,” said Premier Dunderdale. “This agreement focuses interests on Newfoundland and Labrador and provides our province with special recognition in this thriving region of China, a significant advantage in the global market place.”

Zhejiang Province is the third largest exporter in China and is a centre for manufacturing, shipping, finance and other services. The MOU will revitalize the cooperation originally agreed to in an MOU signed in April 2001. The original MOU identified opportunities to strengthen cooperation for expanded opportunities in education, culture, fisheries, aquaculture and general economic development. Areas related to economic cooperation have been extended in the 2013 agreement to include trade promotion, agriculture, science and technology, forestry, small and medium-sized enterprises and oceans. The MOU also encourages education cooperation between institutions.

To support this focus on education, at today’s event, educational partnership MOUs between Memorial University and three Chinese universities were signed. Dr. Gary Kachanoski, President of Memorial University, signed separate agreements with the presidents of Zhejiang Ocean University, Ningbo University and the Zhejiang University of Technology to encourage collaboration between Memorial and the three Chinese universities.

The trade and investment mission to China will promote Newfoundland and Labrador’s interest in working with China, particularly in areas related to mining, oil and gas, fishing, post-secondary education and ocean technology. The eight day trade mission concludes June 28.

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BACKGROUNDER
Memorandum of Understanding (MOU) Between
Newfoundland and Labrador and Zhejiang Province in China

Zhejiang Province (population 54 million) is located on the southeast coast of China, is the third largest exporter in the country, and is home to one of China’s recognized Marine Economic Zones. The Zhejiang Province is one of the richest provinces in China, and is a centre for manufacturing, shipping, finance and other services.

Zhejiang Province has recently been designated by the central government as one of three Marine Economic Zones. Burgeoning industries, such as ocean tourism, seawater desalination and marine biological medicine, have become strong new driving forces for its economic growth.

The opportunities for Newfoundland and Labrador in Zhejiang Province are significant and include education, research and development, ocean technology, environmental technology, high end consumer goods and investment.

MOUs between Memorial University and Universities in Zhejiang Province

Ningbo University
Ningbo University (NBU) is a comprehensive research-oriented institution of higher learning and is ranked within the top 100 universities in China. The university is located in Ningbo. In 2012, NBU had over 26,000 full-time students, 4,450 graduate students, 1,000 international students and 2,400 staff, including six academicians and more than 1,460 academic staff members.

NBU maintains close links and intercollegiate cooperation with over 50 well-known institutions of higher learning in countries including Canada, Germany, France, Britain, USA, Sweden, Japan, South Korea and Australia.

Memorial University’s collaboration with Ningbo University will focus on opportunities in research, teaching and the exchange of scholars and students, with the first research collaboration currently under development between the Faculty of Engineering and Applied Science at Memorial and the School of Marine Sciences at Ningbo.

Zhejiang Ocean University
Zhejiang Ocean University (ZOU) is located in the city of Zhoushan, and has over 1,200 staff members and 15,000 full time students.

ZOU possesses the International Scientific & Technological Cooperation Base in the marine field, the only one conferred by the State Science and Technology Ministry in China. It has also developed numerous partnerships with domestic ocean-related universities and institutes within China and with over 50 institutions around the world.

The university’s interest in research for marine scientific innovations presents opportunities for academic growth and increased industrially relevant research.
Memorial University’s collaboration with Zhejiang Ocean University builds on previous partnerships between the two institutions on technical and educational initiatives.

Zhejiang University of Technology
Zhejiang University of Technology (ZJUT) is situated in Hangzhou and has over 30,000 full-time students, including more than 6,500 postgraduate students and 360 PhD candidates.

The university has established partnerships with over 60 universities world-wide to conduct academic exchange, scientific research and co-operation.

Memorial University and ZJUT share a commitment to preparing students to be ethical global business professionals. The agreement between the institutions will identify business management and economics as areas where mutually beneficial collaboration may take place.

2013 06 27                                 4:15 p.m.