(Yicai Global) Oct. 17 -- Canada will take various steps to further strengthen trade with China, according to Prime Minister Justin Trudeau.

"China is the world's second-largest economy and growing and will remain an important place to do business," state-owned news agency China News Service reported Trudeau as saying at the 2018 Fortune Global Forum in Toronto on Oct. 15.

"The US is going through, as it does from time to time, a bit of a protectionist phase," Trudeau said, while Canada is "constructive," "thoughtful" and "patient" in its approach. 

There should be rules in the global economy as the world needs trade rules that can be trusted and adhered to by both countries and investors, he added. 

"Trade creates growth," Trudeau said. "But trade in itself won't do anything to make sure that the benefits of that growth accrue to everyone. We are thinking about the shared benefits of trade" and not just what profits a particular company or country, he added.

Editor: Emmi Laine