OTTAWA, Ont.--Canada's federal government is embarking on a new trade plan " that reflects the changing global landscape, focuses on core Canadian strengths, aligns Canada’s trade, development and foreign policy tools to advance commercial interests around the world, and sets concrete targets to grow the presence of Canada’s small and medium-sized enterprises (SMEs) in emerging markets."
The comprehensive report, entitled the Global Markets Action Plan: The Blueprint for Creating Jobs and Opportunities for Canadians Through Trade, was announced during a keynote speech Minister Fast delivered to the Economic Club of Canada in Ottawa.
“Under the Global Markets Action Plan, our government will concentrate its efforts on markets that hold the greatest promise for Canadian business-and focus on core commercial objectives within those markets,” said Minister Fast. “We will do this through vigorous and continual trade promotion, supported by ambitious trade policy. In short, this new plan will play to our strengths and ensure that all of Canada’s diplomatic assets are harnessed to support the pursuit of commercial success by Canadian companies and investors. We fully understand that when our businesses succeed abroad, all Canadians benefit from the jobs and opportunities that are created at home.”
The plan will target three distinct types of markets:
• emerging markets with broad Canadian interests;
• emerging markets with specific opportunities for Canadian businesses; and
• established markets with broad Canadian interests.
The Global Markets Action Plan will also set out how the government will work with Canada’s critical SME sector to grow the sector’s footprint in emerging markets.
“In a fiercely competitive global economy, Canada cannot be complacent,” said Minister Fast. “We must be more aggressive and effective than the intense competition we face as we advance Canada’s commercial interests in key global markets. This new plan represents a sea change in the way Canada’s diplomatic assets are deployed around the world, and in so doing, we are ensuring that the commercial success of Canadian firms and investors is entrenched as one of our core foreign policy objectives.”