UKTI country profile – Canada
Valerie Strand from UK Trade & Investment (UKTI) Canada talks about the opportunities for East of England businesses in Canada
1) What would be your advice to East of England businesses looking to do business in Canada for the first time?
• Canada is a foreign market, even though it is primarily English speaking and ‘known’ to many UK companies and individuals, but it should be looked at as an unknown. Companies should do their due diligence, invest in familiarisation visits and gain market, sector and cultural information. Be prepared to invest in marketing and promotion support once a partner or representative is found, then visit often and support them.
2) Why is now a good time for East of England firms to be looking to do business in Canada and what are the key opportunities?
• Canada is one of the largest import markets (globally) and ranked 14th as a destination for UK goods/services. The market is relatively open and once the EU-Canada trade agreement is signed this will help UK industry to achieve a larger foothold in the market. Industry sectors vary across the regions but to date the UK does well in: machinery, pharmaceuticals, alcoholic beverages, chemicals, financial/business services, IT and construction. Future opportunities will grow out of developments within the energy, mining, construction/infrastructure, defence and aerospace sectors.
3) For companies coming to explore your market what sort of support can you offer to help them develop their exports in your market?
• Explore all of the UKTI services in East of England, utilise the network of International Trade Advisors and accept their mentoring skills to guide you, ask questions, gather information and be prepared when you start that first business step on your ‘export journey’.