$6.7 M investing in the Trade Accelerator Program for exporting business
April 26, 2019
Global Korean Post
To increase Canada’s overseas exports by 50% by 2025, the Government of Canada has taken action with a $1.1-billion Export Diversification Strategy.
The Export Diversification Strategy is a part of the Government of Canada’s plan to help small and medium-sized businesses start up, scale up and access new markets.
Mary Ng, Minister of Small Business and Export Promotion, announced a $5-million FedDev Ontario investment in the Toronto Region Board of Trade to expand its Trade Accelerator Program (TAP) to 15 communities across Southern Ontario.
The Minister also announced a $1.7-million investment through Innovation, Science and Economic Development’s Mobilizing SMEs to Export initiative under the Export Diversification Strategy for the Toronto Region Board of Trade to expand TAP into unserved Northern communities across Canada.
These investments in the TAP expansion will help up to 1,000 SMEs in Ontario export to new markets.
Canada has 14 trade agreements, including the new North American Free Trade Agreement, the Canada-European Union Comprehensive Economic and Trade Agreement and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Canadian SMEs now have access to 1.5 billion customers and yet only 12% are exporting.
The Global Korean Post had an interview with Minister Ng at another event on April 25, when she joined by Minister Tassi.
“6.7 million dollars will help Canadian businesses to become more export ready. They can grow with exporting into countries. We have Free Trade Agreement with 50 countries. South Korea, for example, is one country we have free trade agreement with. This is to help for Canadian business.” Said Minister Mary Ng.
“We Canada 14 trade agreements and giving Canadian business to access 1.5 billion customers on the global market place. So, we have invested the Trade Accelerator Program called TAP.”
Regarding the question of women entrepreneur, she replied that 99% of Canadian business is small and medium-sized businesses. Among them, only 16 % of women owner led.
The government has set the goal to double the number of female entrepreneurs in country by 2025.
By Global Korean Post