Canada is one of 20 markets to be featured at the Discover Global Markets: The Blue Economy export forum September 20-22, 2022
Growing demand for marine technologies is generating new export opportunities for US companies. To help U.S. businesses seize these opportunities, the Department of Commerce’s International Trade Administration (ITA) is hosting Discover Global Markets: The Blue Economy, in Providence, Rhode Island, September 20-22, 2022. Based at the U.S. Embassy United States in Ottawa, Canada’s Senior Trade Specialist, Tracey Ford, leads a delegation with a Canadian buyer at the event. Tracey is part of ITA’s global network of US Commercial Service offices located in more than 100 cities across the United States and at US Embassies and Consulates in more than 75 markets. She will be joined at the export forum by U.S. companies, foreign buyer delegations and U.S. Commercial Service marine industry experts from 20 countries. In the questions and answers below, Tracey shares some ideas about marine technology opportunities in Canada, business activities in the market, and agency export resources to help you.
Could you describe the delegation you bring to the DGM Blue Economy export forum?
Our delegation will include Deep Trekker, an Ontario, Canadian manufacturer of remotely operated underwater vehicles (ROVs) and robots used for underwater inspections and surveillance. The US Commercial Service will be on hand to advise US companies on how to enter and do business in the Canadian market
How is the Canadian market attractive to US marine technology providers?
Canada is an aquatic nation – it touches three oceans, has nearly 155,000 miles of coastline, and nearly 1 in 5 Canadians live in a coastal community. Canada has been a strong supporter of the development of the blue economy by creating environmentally sustainable and economically profitable industries. Governments in Canada are working to transform traditional blue industries like fishing, tourism and shipping to combat unsustainable practices, and encourage new technologies and emerging sectors like wave and tidal energy. Canada’s North Atlantic coast, particularly Halifax, Nova Scotia, is becoming a hotspot for blue economy research, investment and innovation.
U.S. suppliers can also tap into Canada’s pool of highly skilled talent in ocean technology research and development through several leading organizations, including Oceans Network Canada and innovation hubs like the Ocean Supercluster. .
Do US marine technology companies have competitive advantages when entering the Canadian market?
American companies have a distinct advantage when doing business in Canada, and it’s not just our geographic proximity. In many cases, we share an alignment of regulations and certifications in the trade, and are close collaborators in marine and environmental sciences. Additionally, the United States-Mexico-Canada Agreement (USMCA) provides several benefits for U.S. exporters to Canada, including lower international freight costs, better intellectual property protection, and a number of resources aimed at small businesses. For more information on how the USMCA can help your business export to Canada, visit the US Commercial Service website at www.trade.gov/usmca.
Are there opportunities for small and medium US exporters or for new businesses entering the Canadian market?
Yes! Canada has a number of established industries in the blue economy, including shipbuilding, shipping/ports, shipping, fishing and processing. Specifically, lucrative opportunities for US exporters exist in emerging industries such as offshore wind, ocean renewables, security and surveillance, and marine biotechnology. Now is a good time for US companies to start building relationships and getting exposure in Canada and looking for opportunities to partner with Canadian companies or supply the country’s supply chain. The ITA also works to help women and minority-owned businesses succeed through exporting.
What challenges do US marine technology companies face when doing business in Canada?
While some of Canada’s blue economy industries are well established, emerging industries can pose entry challenges for US companies. Key challenges include outdated regulations that are slow to adapt and too cumbersome, lack of data to inform decision-making, and industry challenges that attract workers. To offset these challenges, U.S. companies should work through Canada’s blue economy associations, such as Marine Renewables Canada, COVE, or Canada’s Oceans Supercluster. These organizations are an excellent source of data, programs and networking.
Can you give any advice or tips to US companies looking to enter the Canadian market?
The best advice I can give for entering the Canadian market is that while there are many similarities to doing business in Canada, you must remember that the Canadian market is distinct and separate from the United States. in many important ways. We can help you do your homework and understand the differences as well as the similarities before entering into business deals. For example, Canada is a bilingual country and although English is the primary language of business, when dealing in the province of Quebec, French may be a requirement. This also affects packaging and labeling requirements, which must be in French and English. You will also need to understand which standards and certifications are relevant to your products. Our trade specialists in Canada can help you understand these challenges.
Why is it an advantage to have your delegation at the event?
The blue economy is one of the growing sectors in Canada, and the DGM is an ideal platform for face-to-face networking between potential sellers and buyers. Our Canadian delegation member is looking forward to exploring some of the innovative products and services offered by US marine technology companies at the event. For US attendees, this is a great opportunity to hear first-hand about trends and opportunities in the Canadian marine technology market with the on-site presence of the US Sales Department and members of our delegation.
What other services does the U.S. Commercial Service offer U.S. businesses and foreign buyers?
The US sales department offers a variety of customized services to meet each customer’s needs. These include export advice, an initial market check, personalized market research, pre-arranged business meetings with potential foreign partners, business events, etc. . /cs, or visit our Canadian website at trade.gov/Canada. On the site, you can also consult our Canada Country commercial guide.