Canada’s small and medium-sized enterprises (SMEs) drive economic prosperity and create jobs for the middle class. Opening new markets and expanding existing international markets are central to Canada’s trade diversification strategy, which encourages Canadian businesses to tap into new markets, reach new customers and create new jobs.
Today, Omar Alghabra, Parliamentary Secretary to the Minister of International Trade Diversification, was in Charlottetown, Prince Edward Island, to highlight the $100-million expansion of the CanExport SME program and meet with companies that have benefited from this program to grow their exports. CanExport helps Canadian SMEs to access new export opportunities by diversifying into new markets.
Parliamentary Secretary Alghabra met with representatives from Somru BioScience, an emerging biotechnology company dedicated to developing breakthrough antibody technology for research, diagnostic and therapeutic applications. He also toured the facilities of Top Dog, a company that makes high-quality protective clothing for a wide range of industries and applications, and Mussel King, a family-owned mussel-processing company that has been in operation since 1978. All of these companies have leveraged both the CanExport program and the Canadian Trade Commissioner Service to expand into markets abroad. CanExport funding for Prince Edward Island totals $243,200, with support for nine projects across the province.
During a round-table session with new exporters and business leaders hosted by Innovation PEI, Parliamentary Secretary Alghabra outlined the various programs and services that are now available to Prince Edward Island businesses.
The CanExport expansion is a key component of Canada’s trade diversification strategy to invest a total of $1.1 billion over six years to help Canadian companies succeed. With these investments, the government continues to make Canada the most well-connected trading economy worldwide, creating more jobs at home as a result.
“Canada’s small and medium-sized enterprises are wealth and job creators that support the middle class and the people working hard to join it. The investments we are making today will further support Canadian businesses by connecting people, ideas and products to customers around the world.”
– Omar Alghabra, Parliamentary Secretary to the Minister of International Trade Diversification
“Somru BioScience is thankful for the support from CanExport. With this support, Somru exports to over 20 countries. The growth in our business allows us to expand our facilities and grow our team.”
– Clarinda Islam, co-founder and Vice-President of Project Management and Regulatory Affairs, Somru BioScience
“The CanExport program and the Canadian Trade Commissioner Service have played an integral role in the export growth of our company. The expansion of our overseas markets has made our company stronger and more diverse, resulting in greater wealth at home for our employees and our communities.”
– Esther Dockendorff, President, Mussel King
- The 2018 Fall Economic Statement announced investments of $290 million over five years to help Canadian businesses export and grow and to strengthen the Canadian Trade Commissioner Service and enhance the support it provides to Canadian exporters.
- The 2018 Fall Economic Statement invested $100 million over six years to reinforce the CanExport program and related funding programs so that more Canadian businesses can explore new overseas markets, especially high-growth emerging markets and markets benefiting from free trade agreements such as the Canada-European Union Comprehensive Economic and Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
- To date, the CanExport program has supported more than 1,200 Canadian SMEs with 1,600 projects to expand their markets and increase export activities in more than 110 markets around the world.