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Opportunities in Latin America for Canadian Companies

Discover the diverse markets, talent pool, and government funding available for Canadian companies in Latin America. Learn about the benefits of hiring talent from Latin America and the potential for growth in this region.

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Opportunities in Latin America for Canadian Companies

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  1. Opportunities in Latin America for Canadian Companies

  2. OUR SPEAKERS: Felipe Gajardo International Trade Consultant, Mirrai International Paola Murillo Founder & CEO, Mirra international Latincouver

  3. OUR PARTNERS:

  4. What we will cover today: • Introduction • Latin America • Latin America and Canada • Talent Pool • Why Latin America • Government Funding for Exporters

  5. Latin America Latin America is far from homogenous — more a group of overlapping markets, divided into several internal trading blocs. Each country has its own unique history, mix of people and language, geography, economy, and character. Words and gestures might mean totally different things in one country as the next. Building a relationship is highly valued. Starting out with social talk, like questions about one’s family, is standard in many business meetings in Latin America.

  6. BC AND LATAM High concentration in Asia especially China. BC Trade & Investment with 17 offices abroad has no focus in LATAM.

  7. Mexico, Chile and Brazil are considered priority markets in the Greater Vancouver Regional Export Framework (REF) 2019 World Trade Centre Vancouver (WTC-V) Greater Vancouver Board of Trade The REF will serve as an important reference guide, or compass, to help local exporters determine where next to sell their products and services abroad

  8. Canadian companies recently diversifying to Latin America: Canadian Cannabis industry 2018 & 2019 investing and moving into Colombia, Uruguay, Chile, Brazil, Mexico.

  9. Talent Pool

  10. Talent Pool 01 | Average age in Canada is 41 years vs 29 years in Latin America A World Bank report published last year found that the world’s most highly skilled migrants are increasingly deciding to settle in the United States, United Kingdom, Canadaor Australia. 02 | Enrollment in higher education in the Latin American and the Caribbean (LAC) region have increased from 1.8 million students at the beginning of the 1970s to 24 million in 2015. 03 | Skilled programmers in Latin America (24K in Peru, 21K in Colombia, 18K in Chile, 16K in Argentina)

  11. “Latin American tech workers are not always motivated by money and stock options like many USA,Canada. tech workers. They tend to value stability, having a contract, and being able to work with top people.” — Nathan Lustig Benefits to hire Talent in LatAm 01 | Cost-Effective 02 | Proximity- Similar Time Zones 03 | Cultural Similarities 04 | Language/ English 05 | Tech Accelerators ( Chile, Mexico, Colombia, Brazil) 06 | Versatile Workers/ Flexible/ Innovative 07 | Suitable Business Environment 08 | Growth of Middle Class

  12. Why Latin America

  13. Latin America is an important market for Canada (Global Affairs Canada): “Latin America offers a wealth of opportunity for Canadian exporters. With a population of more than 640 million, opportunities exist for virtually any company looking to reach new markets”. “Latin America is a key market for Canadian exporters and investors. EDC facilitates USD $ 13 billion in business in Latin America a year”. “Latin America and the Caribbean represents a large export market for Canadian agri-food and seafood products. The region is growing more and more attractive to global suppliers like Canada”.

  14. Argentina, Brazil, Uruguay & Paraguay Mexico, Chile Peru & Colombia Bolivia, Colombia, Ecuador & Perú Belize, Costa Rica, Dominican Republic, Salvador, Guatemala, Nicaragua & Panama

  15. The Commercial Country Ceiling (CCC) Risk Ratingis impacted by: • The Sovereign Probability of default (ability and willingness to honour financial obligations) • Political risks • Other mitigating or worsening factors. Takes the following into account when determining the position (openness to trade) in a given market: • Government of Canada restrictions • Political, human rights and corruption risks • Other factors that may be taken into consideration are size and diversification of the economy, and risk of natural disasters.

  16. Who is who in LatAm Canada has 7 FTAs in LatAm to facilitate business. Brazil is the biggest economy followed by Mexico (Pop. and GDP) Mexico & Chile are the main destinations for Canadian investment. Chile, Mexico and Panama are the highest income countries.

  17. Who is who in LatAm Mexico, Chile and Colombia are the easiest countries to do business with. Panama, Bolivia and Peru will experience the highest economic growth in 2019. Venezuela, Nicaragua and Argentina will experience economic contraction in 2019.

  18. Government Funding

  19. Minister Carr announces investments to help Canadians access new markets, new customers, new jobs. April 2019. “This investment includes $100 million in additional funding for the CanExport program which will help businesses develop and access new export opportunities, especially high-growth emerging markets and markets benefitting from free trade agreements”. CanExport provides financial assistance to small and medium-sized businesses (SMEs) registered in Canada to help them develop new export opportunities and markets, especially high-growth emerging markets. Federal Gov. Financial Support

  20. Eligibility 75K •Be a for-profit company; •Be an incorporated legal entity or a limited liability partnership (LLP); •Have a Canada Revenue Agency (CRA) business number; •Have a maximum of 500 full-time equivalent (FTE) employees. •Have no less than $100,000 and no more than $100 million in annual revenue declared in Canada during its last complete fiscal year. to cover up to 75% of eligible expenses

  21. Activities that can be funded with CanExport: •Business Travel; •Market Research; •Participation at trade events and fairs; •Adaptation and translation of marketing tools; •Intellectual property protection, certification and adaptation of contracts; •Expert advice on business, legal or tax matters.

  22. Thank you.

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