Today, more than ever, Canada should be, on the radar screen of anyone thinking about establishing or expanding operations in North America.
Businesses from around the world are fast-discovering what Canada has to offer. We boast a competitive business environment marked by a highly skilled, educated, and diverse work force. We have sophisticated transportation and communications networks; a stable, fiscally balanced economy; declining corporate tax rates; and the lowest business costs in the G7.
Our prominent position in the vast North American marketplace — the largest and richest market in the world — is another strategic advantage. The North American Free Trade Agreement provides secure, unparalleled access to a market of more than 400 million consumers with a combined GDP of US$13.4 trillion continent-wide.
Our close business ties to the United States are a key part of the picture. Canada is the United States’ largest trading partner. Nearly $2 billion in goods and services crosses the Canada-U.S. border in both directions every day. In fact, Canada trades more with U.S. states such as Michigan, New York, and California than it does with large countries such as Japan, Great Britain, and France.
Canada’s attractive business costs are another secret to our success. Operating a business in Canada is less expensive than running a similar business in most industrialized nations — including the United States. The Economist’s Economic Intelligence Unit recently ranked Canada first in its global business rankings, and three Canadian cities — Vancouver, Calgary, and Toronto — as the top three destinations for global business travel.
The message is clear: businesses looking to extend their reach into the North American marketplace can’t afford to ignore what Canada has to offer.
As Canada’s Minister of International Trade, I invite you to discover for yourselves what thousands of international businesses already know: Canada is a great place to do business.