Important Guests
Many participants were on-site to attend the conferences and meet the speakers during the event. Among the distinguished guests were three valuable advisors in the achievement of a market development strategy: Marie-Andrée Marquis, Chief Negotiator for the province of Quebec assigned to the Direction générale de la politique commerciale at the Ministère de l’Économie et de l’Innovation; Catherine Tadros, Chief Representative at the Bureau du Québec à Toronto; and Julie Bissonnette, Chief Representative at the Bureau du Québec dans les provinces atlantiques.
In addition to their presentations, attendees also heard a testimony from the firm Levio Conseil, a local business with a strong presence on the Ontario market. Hosting the activity was René Vézina, business columnist at ICI Première, Radio-Canada’s radio station.
A Key Market
One of the most important observations during the presentation was the potential for Quebec businesses in the rest of Canada. Indeed, in 2015, trade value between Quebec and the rest of Canada was higher than the combined value of the province’s commercial trades with China, Germany, Mexico, France, the United Kingdom and Japan. In fact, the Canadian market ranked second in importance for Quebec businesses, behind the United States.
In 2018, Canadian exports by Quebec businesses reached $81B, or 39% of all exports and 19% of the province’s GDP. Ontario was the main commercial partner for Quebec in Canada, far ahead of Alberta and the Atlantic provinces, which ranked second and third.
Still, each Canadian region represents an interesting market, especially in their own unique fields. For instance, the Atlantic provinces are strong in the ocean industry, clean technology and agri-food, while Ontario especially distinguishes itself in transportation, artificial intelligence, life sciences and several other sectors. Therefore, each region has great potential for many organizations, who simply need to reach out.
Promoting Domestic Trade
In terms of promoting domestic trade, several measures are already in place to support local businesses in accessing other Canadian markets. One of the best examples is the Canadian Free Trade Agreement (CFTA), whose latest version was implemented in July 2017. Through this agreement, companies from many industries can get easier access to other Canadian markets and clarifications regarding applicable regulations. Wider reach, transparency in the decision-making process and stricter trade regulations allow for a more predictable business environment for commercial trade. This is why this path should be prioritized, according to the speakers.
Of course, many stakeholders can also assist businesses, regardless of whether they are included as part of the CFTA, such as domestic trade representatives in other provinces and in the Quebec offices located throughout the country.
One thing is clear: the day’s conferences helped many attendees further their reflection regarding Canada’s untapped trade opportunities. For local businesses who may have questions on this topic, our team will be more than happy to help!
