Today marked the first Vancouver China Access 2008 Business Forum, organized by China Access 2008, and held at the Wosk Centre for Dialogue in downtown Vancouver.

The forum was initiated with the purpose to provide a window, an opening to the China gateway of investigating, instigating and honing Asia Pacific strategies; for BC companies and Canada as a whole to gain knowledge and take advantage of the unique opportunities in China.

Canada has held an economic relationship with China for 35 years. In this short time, trade, business and economic development has grown at an astounding rate. Since China emerged into the global economy, it has become an important driver of world growth, a substantial trading partner and the largest global economic destination. There are currently over 4000 skyscrapers in Shanghai alone, with an invested $200 billion in the steel industry, while there is a staggering expansion within other major industrial players: biosciences, information and communications technologies, and non-carbon energy alternatives and environmental remediation.

While there are the likely challenges in initiating business in an industrializing communist country, there are many proven success stories and positive reaffirmations that business in China is completely achievable and attainable.

One of the many aspects the Forum provided was an educational overview of what the country looks like from a geographical point of view: a key factor in understanding the strategic elements of potential economic growth.

Rashid Ahmed, CEO of Optima Health Solutions, Neall Ryon, CEO of Stratex, Lynn Embury-Williams, Director of Marketing and Business Development for Canfor Wood Products, Michael Leung, VP Development at TR Labs, and Michael Lee, VP of Worldwide Partner Support Programs, Business Objects were all part of a panel presentation and discussion on their individual companies' and the opportunities that they have been able to explore and successfully execute in China.

The common thread that was reiterated by the members of the panel, the China Access 2008 team and members of the local business community was simple: You can't afford NOT to be in China. Yes, it's the fastest growing economy on the planet, but China has a great deal more to offer. The Chinese are good consumers, their technology sectors are progressing at an astounding pace, they're a smart, intuitive people, and they have the ability to see the long-term perspective and strategy, building toward a strong, sustainable future.

To build successful business in China, one must establish on-the-ground relationships: go there and get involved. Develop that long-term vision. The business people of China are looking for opportunity every bit as much as Canadian and BC companies are looking for ways to explore their markets. By establishing working relationships, it's more feasible to learn the cultural and traditional differences, and how to work with and respect that aspect. They are a people willing and eager to learn. Canadian companies can capitalize on the opportunity by having a concise and succinct understanding of our own market, translate it, and make the conection with the Chinese market.

Maurizio Bevilacqua, MP representing Vaughan, Ontario was also in attendance, adding,
"There is no doubt that you have seized on a great opportunity to discuss where opportunities lie. We need to do more of these types of meetings because they bring to light some of the challenges that exist within the relationship between Canada and China... As we continue our trade mission with China, the best practices will be shared, as people get to understand the operation of one another's cultures... This is an excellent opportunity to improve and expand operations with China."

Andrew Gilkes, Executive Director of China Access 2008 and Alan Carroll, Executive Chairman of Pacific Rim Forum conducted and mediated the Forum and are both extremely positive and excited by the awareness and education that this event provided for the business community of Vancouver. They are heading over to Beijing this week to reconvene "on-the-ground", along with Robert Scales from Raincity Studios and Kris Krug from Bryght, two of Vancouver's successful new media and technology companies. Rob and Kris were of course in attendance at the Forum today, while Kris shares some of his insight on his blog, and took some snaps during the forum as well.

China Access 2008 can teach us how to conduct business in the vast Chinese market. We, as local BC and Canadian companies, must manage our expectations, get to China, get involved and prepare for long term investments.