A Series of Trading Opportunities & Supply Chain Partnership in Emerging Markets
Financial support for Canadian exporters into Latin America and Caribbean
In the first two parts of the LATAM & Caribbean’s trading opportunities and supply chain solutions, we have review the economic growth and strategic locations of these regions to Canadian national economy in terms of import and exports. In this final part of the LATAM & Caribbean trading series, we’d like to look at financial support from Canadian government and non-profit organizations for Canadian exporters into these markets.
In 2018, Export Development Canada (EDC), a non-profit organization, which promotes Canadian exports across the country to many oversea markets, reported that its financial support helped Canadian exporters to facilitate USD $13.2 billion of their business to accelerate exports and mitigate risks in Latin America & Caribbean in the previous year. This amount was far more than that of any emerging markets including Asia, Africa combined. In which, Canadian businesses with Mexico and Chile leveraged EDC’s financial services to assist USD 3.2 billion and USD 1.6 billion of their contracts respectively. Therefore, it’s not surprising to know that CAD $60 billion in business has been delivered with help from EDC in the past five years, reported by Nathan Nelson, EDC’s Regional Vice President, Latin America and Caribbean (newswire.ca, 2018).
In addition to EDC’s support, Canadian International Development Agency (CIDA), Department of Foreign Affairs and International Trade (DFAIT), and Finance Canada are useful resources to aid new businesses between Canada and Latin America as well as Caribbean. In addition, it’s not difficult to get great support from Trade Commissioners in those countries who have deep market insights and market intelligence to share with Canadian exporters and investors. Moreover, there are various programs named CanExport funding for Canadian exporters, focusing on small- and medium- sized enterprises (SMEs) who want to penetrate new oversea markets. CanExport also allows SMEs to build R&D collaborations with academic institutions in international markets to enhance their capabilities and competences.
Warehouse Transport Group is very pleased to join the Multi-sector Virtual Trade Mission to Costa Rica and Panama from October 28th to November 13th, 2020
In the past few months, Warehouse Transport Group has put tireless efforts in connections with Latin America and Caribbean. We’ve joined the Virtual Trade Show organized by Community Business Development Corporation (CBDC) in collaboration with the Atlantic Canada Opportunities Agency to Costa Rica and Panama. In addition, we’ve participated in a number of meetings with Trade Commissioners in Argentina, Brazil, Chile, Colombia, Dominican Republic, Mexico & Peru to establish critical partnership for a sustainable supply chain and aim to provide excellent supply chain solutions to businesses between Canada & LATAM regions.
We are here to help! Let’s set up a no-commitment supply chain call and talk through some new ideas you could benefit from.
Contact us any time:
- Ryan Burrowes, CEO of Warehouse Transport Group, firstname.lastname@example.org;
- Bill Organ, Director of Freight Forwarding, Warehouse Transport Group, email@example.com;
- Miguel Murphy, Regional Manager – Supply Chain LATAM , Warehouse Transport Group, firstname.lastname@example.org;
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