Canada offers more trade opportunities

published by asingh on Wed, 02/22/2012 - 02:07

The Trade Facilitation Office (TFO) of Canada has urged Filipino exporters to take advantage of trade opportunities offered by the Canadian market, the world’s second largest country with a population of more than 34 million.

TFO Canada has ranked the Philippines only eighth among the 16 TFO client countries that were successful in increasing exports to Canada despite the global economic crisis.

Philippine exports to Canada reached $888 million between 2009 and 2010. It followed Peru, Brazil, Thailand, Malaysia, Indonesia, Vietnam and Singapore.

The country’s volume of exports to Canada, however, surpassed shipments of Bangladesh, Venezuela, Columbia, South Africa, Cuba, Trinidad and Tobago, Guatemala and Guyana.

“The import market is open, growing and diversified. Canada is highly dependent on two-way trade which accounts for 79 percent of the economy. Imports and exports comprise 31 percent and 23 percent of GDP (gross domestic product), respectively.”

Canadian consumers are well informed and demanding, affluent but price conscious, a homeowner, health and environmentally aware, and increasingly multicultural.

“Baby boomers and double income families dominate the market, but single parent homes and seniors are also important market segments.”

To effectively penetrate the Canadian market, the TFO advised exporters to do their homework first given that the Canadian market is both open and competitive. (EHL)

“Price is not always a key consideration. Managing client relations and finding the right distribution channels are extremely important.”