The University of Victoria's faculty of business has been re-accredited with the European Quality Improvement System designation, maintaining elite company with only a handful of universities worldwide.

It's the second three-year term for UVic under the EQUIS label, a status the faculty says will continue to open doors for careers and research opportunities and generate attention from corporations, businesses and future students around the globe.

"Re-accredation is by no means a foregone conclusion, and we're delighted they confirmed our status as a leading Canadian institution providing an international business education," said UVic business dean Ali Dastmalchian.

"Out of over 10,000 business schools worldwide, we're one of 124 with this designation and students can be assured of the high quality of our program, its international focus and its connection to management practice."

The accreditation by the European Federation of Management Development involves independent university deans and corporate executives auditing all aspects of the business faculty. Institutions must demonstrate not only high general quality in all dimensions of their activities, but also a high degree of internationalization.

This year, UVic introduced two new degrees -- a PhD in International Management and Organization and a Masters of Global Business for undergraduates to study at UVic as well as at universities in Taiwan and Austria.

UVic Business currently has 63 partner universities in 31 countries, where its undergraduates and MBA students gain international experience through exchange, study terms, co-op work terms or MBA international management exercises.

The co-op program at UVic is considered the best in Canada as the university has partnerships with an extensive list of companies across the country and connections with universities around the globe to place students in practical work terms.

There are currently nine other EQUIS-accredited schools in Canada, including UBC's Sauder Business School, Simon Fraser University, Queen's University, Richard Ivey School of Business at Western Ontario, HEC Montreal, ESG University of Quebec at Montreal, University of Laval and University of Ottawa.

Earlier this month, UVic's business faculty signed a letter of intent with Changsha University in China to explore executive education opportunities. The agreement was a result of a recent trade mission with Victoria Mayor Dean Fortin and an entourage of technology and tourism companies and educational institutions.

Saul Klein, director of executive programs with the faculty, said Changsha University will promote UVic's programs in fields such as emerging markets, international strategy, cross-cultural management, entrepreneurship, service management and negotiations.

"This agreement will translate into significant business and economic benefits," said Klein. "Once Mayor Fortin had opened the door for us at the official level, we found enormous receptivity from Changsha educational institutions wanting to work with us."