A Agile and Adaptable Global Markets Action Plan

Equally, more than one million Canadians trace their heritage to India. Whether in law, health, engineering, education or other avenues, Indo-Canadians have made, and will continue to make, significant contributions to our rich and vibrant national fabric. Canada's Hon. - Prime Minister - Justin Trudeau

Canada's economic prosperity depends on international trade and investment. The Global Markets Action Plan will ensure that all the diplomatic assets of the Government of Canada are harnessed to support the pursuit of commercial success by Canadian companies and investors in key foreign markets, to generate new jobs and new opportunities for workers and families here at home.

Renewed and strengthened stakeholder linkages

In addition to a new advisory council and the two standing subcommittees, deeper ties with stakeholder representatives from priority sectors and other levels of government will ensure that all efforts are focused squarely on achieving commercial success in priority markets.

Specifically, under the Global Markets Action Plan, strengthened relationships with key stakeholders will include:

Initiatives that play to Canada's strengths

Canada has become a world-leader in providing capabilities and expertise across a vast array of industries. The Global Markets Action Plan has identified 22 priority sectors where existing capabilities and expertise provide Canada with a strong competitive advantage vis-Ã -vis other countries, or where there are dynamic OPPORTUNITIES to grow and develop Canadian business.

Under the plan, these strengths will be developed into comprehensive strategies that will keep Canada at the forefront of key economic sectors and strengthen Canada's TRADE , investment and people-to-people ties in priority markets. These will include:

The launch of an international education strategy to attract international students to Canada and entrench the ties of world-class Canadian educational institutions with their global counterparts.
The development of an extractive sector strategy to further the INTERESTS of Canadian companies abroad. and

The launch of a defence procurement strategy with a clear export-oriented component.

Setting goals and measuring success

SMEs are the backbone of the Canadian economy. The Global MARKETS ACTION Plan sets targets for the government and SMEs, working together, to grow Canada's SME footprint in emerging markets and create new jobs for Canadians.

Of more than 1.09 million SMEs operating in Canada, just 41,000 are currently exporting. The share of those exporting to the United States, Canada's largest and most important trading partner, is understandably high. In 2000, 89 percent of Canada's SMEs that were exporting were active in this market. As of 2011 (the last year of available data), the share was still dominant, but had fallen 12 percentage points to 77 percent. At the same time, SMEs that reported exporting activity in emerging markets rose from 12 percent in 2000 to just under 29 percent by 2011. This is a sign that some significant diversification of export activity has occurred at the SME level. However, that share has not changed materially since 2009, suggesting that the trend is on hold.

Five-Year Target to Increase SMEs Exporting to Emerging Markets:

Now that international TRADE activity is beginning to once AGAIN reflect pre-recession levels, SMEs are poised to significantly grow their presence in key emerging markets. The Global Markets Action Plan combines TRADE promotion and the pursuit of preferential access to large, dynamic and fast-growing markets through trade agreements. Under the plan, the government is working with business to meet targets to grow Canada's SME footprint in emerging markets.

Moving Forward

Trade has long been a powerful engine for Canada's economy. The Government of Canada understands that jobs and opportunities for Canadians are generated by the business we do with other countries. That's why opening new markets for our exporters and attracting prosperity-generating investment are key elements of Canada's Economic Action Plan. The new Global Markets Action Plan represents the path forward that will help ensure the long-term prosperity of all Canadians in a global economy that is fiercely competitive. The Global Markets Action Plan aligns Canada's trade and investment objectives with specific priority markets and ensures that Canada is branded to its greatest advantage within each of those markets. Above all, the plan will harness all of the Government of Canada's tools in order to achieve commercial success for Canadian Businesses , with a particular emphasis on growing Canada's SME footprint in emerging and key markets.

Source: (international.gc.ca)