Canada

February 10, 2016 - Toronto, Ontario - Global Affairs Canada

The Honourable Chrystia Freeland, Minister of International Trade, and Gregory So, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region, today signed a Canada-Hong Kong foreign investment promotion and protection agreement (FIPA) in Toronto, Ontario.

In an increasingly interconnected global economy, Canada’s diversity and connections to the world are among our greatest economic assets. Hong Kong offers many investment opportunities for Canadian businesses. Areas of potential growth for Canadian investment include financial services, sustainable technologies, professional services, agricultural products and processed food, transportation, information and communications technology, and education.

Quotes

“With our strong trade ties and established trade and investment links, Hong Kong is a natural partner for Canadian businesses. Hong Kong offers a dynamic economy, and today’s investment agreement will help Canadian businesses more easily access this reliable entry point into the larger Asia-Pacific region. Together, we are focused on enhancing the prosperity of Canadians at home and connecting them to opportunities abroad.”

- Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade

“Hong Kong is the key trade and investment centre of Asia and an ideal gateway for Canadian businesses to tap into the vast market potential in the region, particularly the Mainland of China. The signing of the investment agreement will give additional assurance to investors, expand investment flows between Hong Kong and Canada and further strengthen our existing strong economic and trade ties.”

- Gregory So, Secretary for Commerce and Economic Development of the Hong Kong Special Administrative Region

Quick facts

• There are approximately 300,000 Canadians in Hong Kong and some 500,000 people from Hong Kong living in Canada.
• Canadian investment in Hong Kong reached $6.1 billion in 2014.
• According to data supplied by Hong Kong, Hong Kong’s foreign direct investment in Canada reached HK$73.9 billion ($11.1 billion) in 2014.
• Canadian merchandise exports to Hong Kong totalled $3.9 billion in 2015, making Hong Kong Canada’s eighth-largest export market for goods; in 2014, Hong Kong was Canada’s seventh-largest market for services.

Associated links

• Canada’s foreign investment promotion and protection agreements
• Hong Kong’s investment promotion and protection agreements

For more information: http://www.international.gc.ca/media/comm/news-communiques/2016/02/10a.aspx?lang=eng​

January 5, 2016 - Kitchener, Ontario - Global Affairs Canada

The Honourable Chrystia Freeland, Minister of International Trade, and the Honourable Bardish Chagger, Minister of Small Business and Tourism, today announced CanExport, a new program that will provide $50 million to help Canadian small and medium-sized enterprises take advantage of global export opportunities.

CanExport is one of the building blocks of the government’s export strategy: it will help Canadian companies take advantage of opportunities abroad and increase their competitiveness, while creating jobs and growth at home.

CanExport will provide Canadian small businesses with matching contributions of between $10,000 and $100,000 toward export development costs. The new program will benefit hundreds of companies each year over the next five years.

CanExport was launched today at Communitech, an industry-led innovation centre that supports and fosters a community of nearly a thousand tech companies at all stages of growth and development, many of which will be able to take advantage of this new program.

To be eligible for the program, companies must employ fewer than 250 employees and have annual revenue in Canada of between $200,000 and $50 million. Eligible activities must promote export development and go beyond an applicant’s core activities, as well as represent new or expanded initiatives.

Quotes

“CanExport is an investment in growing our economy, strengthening the middle class and helping those working hard to join it. I’m thrilled to begin 2016 with this new program that is a key part of our strategy to help Canadian companies succeed abroad. This program will enable small businesses in Canada to explore new opportunities, giving them an advantage in competitive and potentially lucrative new markets, while creating good-quality jobs at home.”

- Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade

“CanExport is part of our plan to support small businesses that are seeking to become more productive, more innovative and more export-oriented. With this program, which is part of Canada’s trade strategy, we want to make it easier for small businesses to take advantage of government financing and export-oriented supports.”

- Hon. Bardish Chagger, P.C., M.P., Minister of Small Business and Tourism

Quick facts

• Trade accounts for approximately 65 percent of Canada’s gross domestic product, with one in five jobs linked directly to exports.
• Small and medium-sized businesses employ 10 million Canadians, nearly 90 percent of the total private sector workforce.
• Over 99 percent of all Canadian businesses are small or medium-sized.
• CanExport will be delivered by Global Affairs Canada’s Trade Commissioner Service, in partnership with the National Research Council Canada Industrial Research Assistance Program.
• Eligible CanExport costs include travel, participation at trade fairs, market research, adaptation of marketing tools for new markets and legal fees associated with distribution and representation agreements.

Associated links

• Applicant’s Guide to the CanExport Program
• Canadian Trade Commissioner Service
• National Research Council Canada - Industrial Research Assistance Program

Contacts

Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
http://news.gc.ca/web/article-en.do?mthd=index&crtr.page=3&nid=1026739​