Minister Carr to highlight benefits of Canada’s Trade Diversification Strategy to businesses in Edmonton and Saskatoon

From: Global Affairs Canada

Minister Carr to highlight benefits of Canada’s Trade Diversification Strategy to businesses in Edmonton and Saskatoon

News release

November 27, 2018 – Ottawa, Ontario – Global Affairs Canada

The Honourable Jim Carr, Minister of International Trade Diversification, is travelling today to Edmonton, Alberta, to promote the new opportunities arising from Canada’s Trade Diversification Strategy for local businesses, including those in the information and communications technology (ICT) sector.

The Minister will deliver a keynote address to Edmonton’s business community at a lunch event hosted by Edmonton Global, the city’s new foreign direct investment incubator. He will also meet with representatives of companies from Alberta’s thriving ICT sector.

On November 28 in Saskatoon, Saskatchewan, Minister Carr will announce $13.7 million in funding to help seven small and medium-sized enterprises (SMEs) in Saskatchewan get their new and innovative technologies to the marketplace, as part of the Western Innovation Initiative. The announcement will be made on behalf of the Honorable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for Western Economic Diversification Canada.

Canada’s Trade Diversification Strategy, announced as part of the 2018 Fall Economic Statement, proposes new measures to help businesses go global, including:

  • making Canada a more globally connected economy by increasing Canada’s overseas exports by 50% by 2025;
  • providing resources to SMEs to help them explore new export opportunities;
  • enhancing trade services for Canadian exporters; and
  • helping Canadian innovators add value, succeed and grow.

“Canada’s Trade Diversification Strategy will help Canadian businesses compete and succeed internationally. Our competitiveness depends in large part on making Canada the most globally connected economy. The investments we are making will connect our people, their ideas and the products they sell to the world.”

– Jim Carr, Minister of International Trade Diversification

Quick facts

  • Through the Trade Diversification Strategy, the government will invest $1.1 billion over six years to finance infrastructure to support trade, enhance trade services for Canadian exporters and provide Canadian businesses with resources to execute their export plans.

  • Canada’s ICT sector includes close to 40,000 companies, which contributed a total of $76 billion (4.4%) to Canada’s real GDP in 2017.

  • Alberta hosts nearly 4,500 ICT-related companies that generated revenues totalling $11.4 billion in 2017.

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