Question

How can Canada broaden its export market globally?

Answer 1

The reliance of Canada on the United States market is high and with uncertainty south of the border, it is important for Canada to diversify geographically. As smaller businesses are the lifeblood of the economy in Canada thus it should encourage them with an increase and expansion of the scope of financial instruments and export grants available to assist small and mid-market entrepreneurs. It will reduce the cost, time, and risk of exporting. Canada should focus it's export market globally where it can match the capacity and supply (export credit, industry capabilities, and project financing) with the demand (global investors, buyers, and global value chains. It should educate SMEs which result to global entrepreneurship and businesses for Foreign Service officers, ambassadors, and trade commissioners. They should have aggressive approach and more energetic for winning the best export deals the country and attracts a high value inward investment.