Explore Export – Canada
Gilda Carbone addresses opportunities for East of England businesses in Canada. Gilda is a Trade Officer based in Toronto, Canada. She leads on the Financial and Professional Services, ICT, and Biotechnology/Pharmaceutical sectors for the UKTI network in Canada for trade.
1) What would be your advice to UK businesses looking to do business in your market for the first time?
Have a long term view on expanding your business in Canada. Take time to scope and understand the market, establish and build relationships. This will lead to a better understanding of how to navigate the sector you operate in, who the players are, and where business can be won.
Canada and the UK have strong historical links, commercial ties, and sector synergies, which make the two markets ideal partners in many industries.
Factors, such as a similar legal and healthcare system to the UK, an English speaking market, a strong economy with a stable financial system, make Canada a good overseas market for both newer and more experienced UK exporters to explore and consider. Overall, the ‘UK brand’ is known and well received in Canada. 2) Why is now a good time for UK firms to be looking to do business in your market?
Overall, Canada weathered the financial crisis relatively well and retained a solid financial system. Its economy is forecast to grow at 2.2% in 2014, second to the UK among the G7 markets. It is estimated the CETA (Canada European Union Comprehensive Economic Trade Agreement) will boost bilateral trade between Canada and the EU by 20%. CETA will be implemented over the coming months. UK companies considering Canada should be planning their market entry strategies leading up to this. 3) What are the key opportunities for UK companies looking to approach your markets?
Opportunities in Canada can be found in numerous sectors including Advance Manufacturing, Security & Defence, Financial & Professional Services, ICT, Life Sciences, and Energy. UK companies should also keep in mind Canada is an export driven economy (e.g. natural recourses, games development, manufacturing, etc.), creating opportunities to supply into these industries in Canada, then exported into third markets.
4) For companies coming to explore your market what sort of support can you offer to help them develop their exports in your market?
UKTI Canada has Trade Officers based in our offices in Vancouver, Calgary, Toronto, Ottawa, and Montreal. We provide advice on entering the Canadian market based on sector and offer our UKTI services to do so. We can advise on the wider aspects of doing business in Canada and link in companies to our wide network of local business support agencies we work with in Canada to help UK companies succeed in Canada.
Email: UKConsulate.Calgary [at] fco.gov.uk (UKConsulate.Calgary [at] fco.gov.uk)UKConsulate.Calgary [at] fco.gov.uk• Commercial Officers from British Embassies representing more than 60 global markets are visiting Newmarket on November 11 to share detailed export advice. They are highly experienced market specialists who provide valuable insights, direct routes to market and new business opportunities aimed specifically at East of England companies. For further information about ExploreExport visit www.exploreexport.ukti.gov.uk/Newmarket.aspxKeep up with all the information about UKTI’s programme of events on twitter with @UKTIEast #ExportWeek