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This page contains information about Canada’s Global Commerce Strategy (2007-2013). To learn about Canada’s new trade plan, visit Global Markets Action Plan.
Value of Exports for Job Creation, Economic Growth and Long-term Prosperity
Reaching beyond our borders for economic opportunities that serve to grow Canada’s trade and investment is key to the prosperity of every hard-working Canadian. Trade has long been a powerful engine for Canada’s economy. Canadian jobs and prosperity depend on the business we do with other countries. In fact, trade is equivalent to more than 60 percent of our country’s GDP and one in five Canadian jobs is related to exports.
October 21st, with one-fifth of the year to go, represents the day when the average Canadian worker would stop working if there were no exports.
Looked at another way, October 21st marks the point in the year after which Canada’s prosperity is generated solely by exports—powered by hard-working Canadians who produce goods and services and sell them to the world.
If Canada did not trade, that is, if we did not export, after October 21 our prosperity and economic well-being would be dramatically lower:
- there would be 3.3 million fewer jobs;
- the unemployment rate would skyrocket to more than 25 percent;
- Canadian GDP and incomes would fall dramatically;
- workers in all sectors of the economy would be impacted; and
- Canadian families across the country would feel the consequences.
It is because trade is so vital to our prosperity that our government is pursuing the most ambitious pro-trade plan in Canadian history—one that focuses on protecting our current exports, forging new trade and investment ties with key partners and opening new markets so Canadian exporters can continue to grow and succeed around the world.
Canada’s Global Commerce Strategy
A clear roadmap for international trade—the government’s Global Commerce Strategy (GCS)—coupled with solid economic performance has resulted in an unprecedented number of years of leadership on the world stage, with new jobs, growth and prosperity for Canadians.
Since 2006, the government of Canada has concluded free trade agreements with nine countries and begun deepening trade and investment ties with the largest, most dynamic markets in the world, including the European Union, India and Japan.
Deeper trade with the EU and India alone could provide Canadian businesses with improved access to markets having a combined GDP of nearly $20 trillion and more than 1.7 billion people, creating thousands of job opportunities in Canada. Canada has also recently joined the Trans-Pacific Partnership (TPP) trade negotiations. Including all members, the TPP market represents about 658 million people and a combined GDP of over $20 trillion.
The government’s pro-trade plan continues to get the fundamentals right—by reducing tariffs and red tape, easing trade barriers, lowering taxes and facilitating trade flows—to help world-class Canadian businesses expand, flourish and become more competitive in key high-growth priority markets around the world.
Canadian workers and businesses now have preferred access to, and a real competitive edge in, more markets around the world than at any other time in history. And the work to maintain that competitive edge and open more new markets for exporters continues.
Economic Action Plan 2012 called for a commitment to refresh the GCS to align Canada’s trade and investment objectives in large, dynamic and fast-growing priority markets, with an eye to ensuring that Canada is branded to its greatest advantage in those markets.
The next phase of the GCS will be announced in 2013.
To learn more about Canada’s pro-trade plan, please visit: Canada’s Global Commerce Strategy.
To learn more about Canada’s Beyond the Border Action Plan, please visit Beyond the Border.
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