Be it the tiger, the dragon, or even the camel, the nations of Asia are a hot market for Canadian legal business. Throughout this issue of Canadian Lawyer, we look at the opportunities presented by the nations of Asia. The Earth’s largest continent boasts such a variety of markets, economies, and, quite simply, people, that in this globalized economy it can’t be ignored.
According to the Department of Foreign Affairs and International Trade’s “Canada’s International Market Access Report — 2008” exports to China surged 21.3 per cent to $9.3 billion in 2007. Canadian merchandise imports from China rose at a slower pace than exports in 2007, up 11 per cent to $38.3 billion. It is Canada’s second-largest trading partner. Despite concerns over distorted markets due to rules for state-owned and state-controlled enterprises as well as concerns over human rights abuses, China is all about business. And Chinese business is very interested in Canada, in large part for natural resources. Either way, legal advisers are needed and law firms are stepping up to the plate. Blake Cassels & Graydon LLP has had an office in Beijing for a decade. Lang Michener LLP is the newest player with a recently opened office in Hong Kong. But most firms are happy to take part in the game from their home bases, with many having dedicated China or Asia practice groups.
Beyond China, Japan is still a powerful economy despite the current economic downturn. Davis LLP is the only Canadian firm with an office in Tokyo, however as the third-largest market for Canadian exports, the country holds great interest for Canadian firms that can service clients’ needs there. There are some concerns over trade, but the Canadian government is in dialogue with the Japanese over issues such as tariffs on particular products.
India, of course, is becoming an increasingly important trading partner for Canada. In part because the market there is so huge but also due to the number of Indians in this country with business ties. Canadian law firms are wise to mine those ties. While foreign law firms and lawyers remain barred from practising in the subcontinent, it hasn’t stopped firms from bulking up their India practice groups and creating relationships with colleagues in that country. In addition, outsourcing of legal work to the Indian market is growing. One firm in India says in the last year, the number of Canadian clients using its various services has grown from zero to six.
And in July, Blakes announced it was making another footprint in Asia, becoming the first Canadian firm to open an office in the Kingdom of Saudi Arabia. British and U.S. firms are already tapping the market in the Persian Gulf but this marks new territory for Canadians.
Business may be the big draw for most lawyers who look to Asia, one litigator in Vancouver spends half of his year on the western edge of the continent volunteering in Israel. For six months, Morris Soronow works nights on his law practice and spends his days delivering food to the needy or cleaning out the inside of tanks. The rest of the year is spent back in B.C. conducting trials.
The biggest continent does appear to have something to offer everyone.
