Business in Canada Canadian economy foreign trade Exports FDI

 Educational level: Continuing education / Executive education programs.

Course summary Doing business in Canada:

Canadian economy / Foreign trade

Canada is the top-ranked country in the OECD for both the lowest number of procedures (2) and the shortest duration for completion (3 days) to establish an industrial or commercial business, according to the World Bank Group.

According to Dun & Bradstreet’s Global risk indicator, Canada is considered one of the world’s safest countries to invest, due to the relatively mild slowdown experienced as a result of the global credit crisis. In addition, the Canadian Business’ Prosperity Potential Index (October 2009) ranks Canada first in the G7 for the likelihood of a strong and healthy economy in the year 2020.

- Canada’s global share of aerospace activity has tripled in the last 20 years, making Canada the world’s 5th largest aerospace producer.
- Canada is the world’s fourth-largest exporter of agricultural products.
- Canada is among the Top 10 automotive countries and the 3rd largest exporter of automotive products after Japan and the U.S.
- Nine of the top 10 chemical companies in the world have production facilities in Canada.

Free Trade Agreements (FTAs) of Canada: North American Free Trade Agreement (NAFTA), Colombia, Peru, Chile, Panama, Honduras, Costa Rica, Canada, Jordan. ASEAN Canada Economic Cooperation Agreement (ACECA). India - Canada (CEPA)

Under the North American Free-Trade Agreement (NAFTA), Canada has direct access to the North American market, including Mexico -over 440 million people with a combined GDP of over US$16 trillion. Canada is America's largest trading partner. Many Canadian production hubs are actually closer to target United States markets than American production sites. Of Canada's 20 largest cities, 17 are within an hour and a half drive of the United States and many are much closer.

European markets provide tremendous trade opportunities for Canada. Some of the most important exports to the European Union are chemicals, machinery, transport equipment, computer electronics products and minerals. Today, the European Union (EU) represents Canada's second largest trade and investment partner and a natural ally on many foreign and security issues.

The EFTA countries are significant economic partners for Canada. In 2008, two-way merchandise trade was valued at $13.2 billion, including Canadian exports of $4.2 billion. In addition, two-way investment stocks with Norway and Switzerland reached $28.4 billion in 2008.

Canada has exceptional access to Asia-Pacific markets. With its advantageous geographical location, strong immigration links and membership in Asia-Pacific Economic Cooperation © that reduces trade barriers, Canada is well positioned to capitalize on the long-term growth potential of Asian economies. To maximize its strategic access and enhance its competitive position, Canada has invested over $1billion into the Asia-Pacific gateway and corridor Initiative to support stronger infrastructure links among Canada, NAFTA and Asia-Pacific markets.

Canada’s economic interests in the Association of Southeast Asian Nations (ASEAN) region are reflected in substantial two-way merchandise trade, valued at $14.5 billion in 2008. Canadian foreign direct investment FDI in the region was worth some $8.2 billion at the end of 2008. Trade in goods and services between APEC © economies have more than tripled, in dollar terms, since the forum's inception.

Canada is the Commonwealth's second largest contributor providing 20.12% or approximately $5.0 million to the regular Secretariat budget, and $13 million to the Commonwealth Fund for Technical Co-operation (CFTC) in 2008/09.

Doing business in Ontario - Toronto
With the greatest population concentration, close proximity to the massive United States market (Los Angeles: 4,040 Km; New York 788 KM) and diverse industrial strengths, Ontario has quickly become the engine of the Canadian economy and a home for a broad range of multinational operations. Ontario is a major trading economy and exports more per capita than Canada and the other G7 countries. In 2007, total Ontario international exports stood at Cdn$202.4 billion, amounting to 45 per cent of total Canadian exports.

Exports to the United States represent almost 84% of total Ontario exports. Other major export markets are the United Kingdom, China, Norway, Mexico, Japan, Germany and France.

Even though it is not a country, the scope of the province of Quebec's economy compares with that of Portugal. Quebec's economy therefore ranks 50 most important in the world, and 21st in comparation with the OECD countries. Regarding Quebec's GDP per person, it surpasses that of Spain, Italy and Greece.

The Asia-Pacific gateway and corridor Initiative (APGCI) is an unprecedented association of public and private sector resources to take advantage of Canada’s strategic location at the crossroads between the North American marketplace and the booming economies of Asia. Canada is ideally positioned to benefit from the huge increase in trade with Asian countries such as China, India, Korea and Japan.

Canada has the best educational system in the G7 and is rewarded with the most highly-educated population in the OECD.

Nearly 25 million people, or 80% of Canadians, now live in Toronto, Montreal, Vancouver, Ottawa-Gatineau, Calgary and Edmonton. Federally, the two official languages are English and French.

International Economic Relations. Canada is member of: North American Free Trade Agreement (NAFTA), Asia-Pacific Economic Cooperation (APEC) ©, Inter-American Development Bank (IDB), Economic Commission for Latin America (ECLAC), Organization of American States (OEA), Pacific Economic Cooperation Council (PECC), Economic Commission for Europe (UNECE), Regional Cooperation Council (RCC), ACS (Observer), International Monetary Fund (IMF), OECD, Commonwealth ...

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