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Manitoba Hosts EU Delegation to Promote Trade, Investment Opportunities

23 March 2018

CANADA - The Manitoba government is hosting roundtable discussions with representatives from European Union (EU) member states to raise awareness of trade and investment opportunities in Manitoba under the Canada-EU Comprehensive Economic and Trade Agreement (CETA), Growth, Enterprise and Trade Minister Blaine Pedersen announced.

"We are pleased to welcome representatives from seven different European Union countries to work together to build stronger partnerships and promote trade growth," said Mr Pedersen. "The Canada-EU Comprehensive Economic and Trade Agreement provides Manitoba industries with tremendous opportunities to export, as well as investment opportunities for EU-based companies in Manitoba."

Over the next two days, discussions with the EU delegation will include industry representatives and focus on key sectors of the economy, including agriculture, advanced manufacturing and northern economic development. The delegation will also visit two of Manitoba’s cutting-edge research and innovation centres, the Composites Innovation Centre and the Richardson Centre for Functional Foods and Nutraceuticals.

"We know how important international trade is to our province, Canada and the global economy," said Mr Pedersen. "We are working closely with industry in Manitoba to help expand access to new markets and diversify export opportunities. These roundtable discussions are building on existing trade, investment and business relationships to promote Manitoba’s capabilities around the globe."

In 2017, Manitoba’s total trade with the EU totalled $1.9 billion, making the EU the fourth-largest export destination for Manitoba goods and the second-largest source of imports. It is estimated that, once fully implemented, CETA could increase Manitoba’s exports of goods and services to EU member states by 24 per cent or $200 million per year.

The minister noted the Manitoba government partnered with Global Affairs Canada to host two export business forums featuring presentations on CETA and market opportunities in the EU, with 30 participants in Brandon and 85 in Winnipeg earlier this week.

"Challenges with the North American Free Trade Agreement highlight the importance of expanding our trade efforts beyond North America," said Ron Koslowsky, vice president, Canadian Manufacturers & Exporters Manitoba. "By working together, government and industry can create the environment Manitoba manufacturers need to harness the natural, technology and human capital resources of our province and succeed abroad."

"There is a world of opportunities available for Manitoba businesses," said Chuck Davidson, president and chief executive officer of the Manitoba Chambers of Commerce. "It remains imperative that Manitoba business understand the opportunities new trade deals contain. Today is an important next step for business growth and expansion into new markets."

"Promoting stronger links to the EU is good for the canola industry," said Jim Everson, president of the Canola Council of Canada. "Hosting EU member state representatives is the perfect opportunity to communicate how our governments can work together to enable a more predictable canola supply for the EU while supporting innovation here in Canada."

The EU is the world’s second-largest economy and Canada’s second-largest trading partner after the United States.

TheCattleSite News Desk

Top image via Shutterstock



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