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Exploring the Canadian Market

Exploring the Canadian Market. Russ Sawchuk, Director North Carolina Canada Office. Topics. Canada: An Overview Why Canada Trade Facts Canada and North Carolina Key Areas Considerations Additional Resources. Canada – An Overview.

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Exploring the Canadian Market

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  1. Exploring the Canadian Market Russ Sawchuk, Director North Carolina Canada Office

  2. Topics • Canada: An Overview • Why Canada • Trade Facts • Canada and North Carolina • Key Areas • Considerations • Additional Resources

  3. Canada – An Overview • Population 33.4 million with 10 provinces and 3 territories • GDP ($1.576 Trillion, 9th in the world) • ~$39,600 GDP/capita • Second largest country, 7th largest economy

  4. Why Canada? • Affluent, industrial economy • Similar business practices and attitudes • Geographic proximity reduces transit times & costs • 90% of Canadians live within 100 miles of the border • Common language, corresponding time zones • Open border • Sound financial & distribution systems Canadian Sales should be at least 10% of your US Sales

  5. The Canadian Economy Canada’s Economy is growing again • Stimulative monetary and fiscal policies • Improved financial conditions • Firmer commodity prices • Rebounding business and consumer confidence • Growth in domestic demand Canadian GDP Growth • 3% for 2010 • 2.9% for 2011 [forecast] • Canadian $ at par with US $

  6. Canada-U.S. Investment: • One of the world’s largest investment relationships • US FDI in Canada: $288 Billion 2009 52% of foreign investments in Canada • Canada FDI in US: $251 Billion 2009 44% of Canadian foreign investment

  7. Canada-U.S. Trade:Statistics • Canada-US trade - largest in world • Over $1.4 billion in goods and services daily in 2010 • US exports to Canada up 65% since 1995, under NAFTA • 55% of all Canadian imports come from the U.S. • 75% of all Canadian exports go to the U.S.

  8. Canada and North Carolina Merchandise Trade Canada is NC’s largest export market Over $20 million/day traded between N.C. and Canada [2010]

  9. Canada and North Carolina Top NC Exports to Canada (2010) Fact: 21% of NC exports are sold to Canada

  10. Canada and North Carolina Top NC Imports from Canada (2010)

  11. Travel & Tourism Canada and North Carolina

  12. Ontario • 13 million people and 43% of Canada’s GDP [2010] • Canada’s largest market, and most similar to the US • Low-risk entry point into Canada • 35% of all Canadian R&D • Toronto: largest city in Canada, home to half the country’s largest financial institutions, 90% of its international banks, and over 75% of U.S. subsidiaries in Canada

  13. 2011 Best Prospect List Security Aerospace and Defence Energy & Environment Construction & Engineering ICT

  14. Considerations when Exporting to Canada

  15. Resources for NC Exporters to Canada • NC Dept of Commerce, Intl Division, Raleigh www.nccommerce.com • NC District Export Council www.ncdec.us • NC World Trade Center www.wtcnc.org • US Export Assistance Centers www.buyusa.gov/northcarolina/location.html • US Commercial Service in Canada http://www.buyusa.gov/canada/en/bsp.html • Independent Consultants with Canada Experience • Logistics, Shipping, Freight Forwarding Co’s • Attorneys & Law Firms with Canadian Presence

  16. Useful Canadian Websites www.strategis.ic.gc.ca www.investontario.com

  17. North Carolina Department of Commerce - Canadian Office Contact Information Russ Sawchuk, Director 13A Princess Street Mississauga Ontario L5M 1Z8 Canada Phone: (905) 826-6000 Fax: (905) 826-6009 Email: ncco@on.aibn.com www.thrivenc.com

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