Canadian exporters are learning not to put all of their eggs in one basket — even if it’s a very big basket that happens to be right at hand.
Export Development Canada (EDC) reports that 79% of the country’s exporters, long dependent on their southern neighbor, have plans to diversify. The report notes that confidence among exporters addressing only the US market is lower (69.5%) than among those engaging US and other markets (72.7%) or non-US markets only (72%). 31% of Canadian exporters plan to enter Europe within two years, while 20% are targeting the Asia-Pacific region.
Underscoring these ambitions, Canada’s International Trade Minister Maninder Sidhu is leading the country’s largest trade mission to India in 30 years, with nearly 300 delegates visiting Mumbai and Bengaluru this week.