Minister Carr to Promote Trade Diversification in British Columbia
“Canada is rapidly becoming the most globally connected economy on earth and the Fall Economic Statement contributes significant new tools and resources so that every exporter and would-be exporter can go global, tap the unprecedented number of markets that have been secured through Canada’s ambitious diversification agenda and create good middle class jobs at home.” – Jim Carr, Minister of International Trade Diversification
When Canadian companies have greater global market access and can compete on a level playing field, they have more chances to succeed and in turn create more high-quality jobs for middle-class Canadians.
The Honourable Jim Carr, Minister of International Trade Diversification, will be travelling to British Columbia on Thursday, December 6, 2018. While in BC, the Minister will explain how Canada’s Trade Diversification Strategy will help local businesses, entrepreneurs and would-be exporters expand into new markets, especially in the Asia Pacific through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The Minister will deliver a keynote address on the diversification imperative at the Greater Vancouver Board of Trade’s Energy Forum 2018. While in Richmond, BC, he will also meet with representatives from BC’s flourishing clean-technology industry to highlight increased investments in that sector.
The Government of Canada is determined to make Canada the most globally connected economy and has set an ambitious target of increasing overseas exports by 50% by 2025. To support businesses of all sizes in that effort, the measures announced in the Fall Economic Statement will:
provide resources to small and medium-sized enterprises to help them explore new export opportunities;
enhance trade services for Canadian exporters; and,
help Canadian innovators add value, succeed and grow their businesses.
The Trade Diversification Strategy will invest $1.1 billion over the next six years, starting in 2018 to 2019, to help Canadian businesses access new markets.
British Columbia’s global exports were valued at $44.6 billion in 2017.
From 2000 to 2017, British Columbia’s merchandise exports to Asia grew more than 112% ($9.3 billion), with two thirds of the increase coming from an 811% growth in exports to China.