Business Opportunities in Canada

Canada continues to maintain its ranking as the United States' largest export market in the world accounting for $365.8 billion (19% of total exports) of U.S. goods and services. This figure represents a $10.4 billion increase (2.9%) from 2012 and the highest total on record. Proximity, ease of doing business, a common business culture, rule of law, and high receptivity for U.S. made goods and services contribute to the already significant bilateral trade base. Anticipated future growth and expansion of the Canadian economy ensures that U.S. made goods and services have a chance to compete in this thriving market in the coming years. Similarly, in 2013 Canada ranked fourth in the world in foreign direct investment (FDI) to the United States. We often hear that no two countries are as closely integrated as the United States and Canada. Indeed, the relationship is truly mutually beneficial; the United States is Canada's largest export market accounting for $367.7 billion (80%) of Canadian exports of goods and services in 2013. The United States is Canada's largest FDI contributor. This unique trade and investment relationship is based on an increasingly integrated supply chain, on co-production of new, leading technologies, and on the positive flow of people, talent and ideas. In fact, the United States maintained its number one ranking as Canadian's favorite tourist destination, and vice versa in 2013 with travel and tourism contributing approximately $22 billion to each country's economy. There is continued optimism about the future of this relationship and the prospects for expanded trade and investment. North America represents 25% of the world's GDP. This means businesses will continue to find viable markets for competitive products and services. In particular, new developments in shipbuilding, air-defense, safety and security, IT, infrastructure, mining, and renewable energy will create virtually limitless business opportunities. In anticipation of the growth in these potential projects, the Canadian and U.S. federal governments in 2011 launched two ambitious initiatives to streamline the movement of people and goods safely across the common border - the Beyond the Border and the Regulatory Cooperation Council are implementing programs to help U.S. and Canadian businesses reduce operational costs while effectively streamlining trading procedures. In this year's Country Commercial Guide, you will find concise and practical information that will enable you to determine the best prospects for U.S. made goods, information on regulations, labeling, as well as identifying and working with agents and distributors, and much more.