Canada’s Global Markets Action Plan consists of comprehensive actions to advance the interests of Canadian businesses in a specific group of key foreign markets. Priority markets were identified through a multi-stage process that included:
- economic modelling to identify markets with high-growth potential given Canadian industrial capabilities and competitive advantages;
- analysis of potential sources of capital, technology and talent;
- key regional trading blocs and Free Trade Agreement (FTA) partners for Canada;
- core hubs in global value chains; and
- guidance from key Canadian industry sectors.
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Legend - Emerging & Established Markets
Although emerging markets are increasingly important, Canada needs to continue building on existing relationships with our traditional international partners. Business and industry leaders have been clear: a focus on emerging high-growth markets should not come at the expense of Canadian commercial interests in other strategic markets where Canada already has major trade interests and where Canadian companies still face the challenge of penetrating the lucrative global supply chains of multinational corporations.
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