Canadian plane maker Viking Air announced its plan to sell 400 Twin Otter Series seaplanes in China in the next 10-15 years, making it the first Canadian company to benefit from the Bilateral Aviation Technical Arrangement signed by China and Canada in February.

At a press conference held in Vancouver's seaplane harbor, Viking Air CEO David Curtis told reporters that he was excited to gain access to China's large private market, the Xinhua News Agency reported on Saturday.

"You've got mining oil and gas resource companies who will use them in the north to replace expensive helicopters who are currently doing the work that the twin Otter can do. So the customer base is wide," Curtis said.

Under the Bilateral Aviation Technical Arrangement, Transport Canada and China's civil aviation authority are streamlining approvals for aeronautical products and parts, so that companies on both sides of the Pacific can have an easier time reaching aviation deals.

Kerry-Lynne Findlay, Canada's National Revenue Minister, said at the press conference that they were in Vancouver to mark the first fruit of the Canada-China arrangement as Viking Air became the first Canadian company to benefit from it.

"China has recognized the Canadian type certificate for Viking's Twin Otter 400 series, which means Viking can now sell his aircraft into the Chinese market," the minister said.

Curtis said they were now in talks with Chinese partners to create maintenance centers in China to keep the planes in the air long after they are sold to Chinese customers.

The 19-seat planes sell for a base price of around C$6.5 million ($5.2 million) and Viking Air estimates that the whole deal will translate into C$3.5 billion in sales in China over the next 20 years.

China's consul general in Vancouver Liu Fei attended the press conference and lauded Canada's aeronautical industry, saying Viking Air was wise to get a foot into China's large aviation market.

China is Canada's second largest trading partner, with total bilateral trade between the two countries topping $70.5 billion in 2014, slightly decreasing by 0.8 percent from a year earlier, according to China's Ministry of Commerce.

Canada's exports to China reached $17.45 billion during the period, while its imports from China stood at $53.05 billion.