Enhancing Success. Canada’s Immigrant Entrepreneurs and International Trade
Canada depends greatly on international trade to fuel its prosperity, as exports account for nearly one-third of its gross domestic product (GDP). Given that more than 80 per cent of its trade is with the United States and the European
Union, Canada would do well to diversify its export markets, especially to parts of the world experiencing higher rates of growth. This is one of Global Affairs Canada’s top priorities, as shown by the recent launch of trade talks with regional blocs such as Mercosur and ASEAN. In addition to new free trade agreements with countries experiencing faster growth,
Canada’s large immigrant population is another factor that could contribute to diversifying its trade partners. Indeed, research has shown a positive relationship between immigration and Canada’s international trade. Immigrants can help boost Canada’s exports in several ways, including by working for multinational firms and through entrepreneurship.