International Trade Minister Ed Fast hosted a Go Global workshop in Brampton, Ontario, to highlight tools available to small and medium-sized enterprises (SMEs) that want to take advantage of new export opportunities in India.
India is a priority market under Canada’s global markets action plan. During the workshop’s panel discussions, Minister Fast encouraged companies to leverage the many federal government tools available to support Canadian companies looking to export to India. He noted that Canada continues to work closely with India to create new opportunities for businesses.
Fast announced that the Invest Canada-Community Initiatives (ICCI) and the Global Opportunities for Associations (GOA) programs are now accepting applications for an additional round of funding.
The ICCI program provides support to Canadian communities seeking to improve their capacity to attract, retain and expand foreign direct investment.
The GOA program provides funding to national associations in support of new or expanded international business development activities in strategic markets and sectors.
A few quick facts:
Under the global markets action plan, the government set a goal of nearly doubling the number of Canadian SMEs exporting to emerging markets – from 11,000 to 21,000.
Prime Minister Stephen Harper recently announced $50 million in direct financial assistance to Canadian SMEs for market research and participation in trade missions. This will help between 500 and 1,000 Canadian entrepreneurs per year reach their full export potential.
In 2014, bilateral merchandise trade between Canada and India totaled nearly $6.3 billion.
“India is an exciting choice as an export market for Canadian companies, given our close and ever-growing ties,” said Fast.
“Our government is providing the tools for export success, and I encourage all small and medium-sized enterprises to take advantage of Canada’s trade network in India, which includes 50 trade commissioners in eight different offices covering every region of the country.”