Minister Chagger highlights investments to help businesses access new markets and create good middle-class jobs in Ontario

From: Global Affairs Canada

News release

May 23, 2019 - Ottawa, Ontario - Global Affairs Canada

Canada’s small and medium-sized enterprises (SMEs) are the engine that drives economic prosperity and creates jobs for the middle class. Opening new international markets and expanding existing ones is central to Canada’s trade diversification strategy, which aims to propel Canadian businesses to tap into new markets, reach new customers and create new jobs.

Today, Bardish Chagger, Leader of the Government in the House of Commons, was in Kitchener-Waterloo, Ontario, and met with local businesses at an event hosted by TextNow, a local start-up that has developed a freemium wireless phone app. At the event, Minister Chagger encouraged local businesses to continue to explore new opportunities in overseas markets with the help of the Canadian Trade Commissioner Service (TCS).

Minister Chagger outlined how the government is investing $290 million over five years to strengthen the TCS and enhance the support it provides Canadian businesses, including $100 million over six years to reinforce the CanExport program. Since 2016 the CanExport SME program has supported 469 projects with companies across Ontario, for a total of $13.4 million, helping these companies access new export opportunities and reach their global goals.

Minister Chagger also highlighted $17 million over five years to expand the Canadian Technology Accelerator (CTA) program. This funding is part of Canada’s commitment to help SMEs expand and diversify their exports.

These programs are key components of Canada’s trade diversification strategy, New Markets, New Customers, New Jobs, which invests 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 while creating more jobs at home.

Quotes

“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 and communities by connecting people, ideas and products to customers around the world.”

- Bardish Chagger, Leader of the Government in the House of Commons

Quick facts

  • The 2018 Fall Economic Statement is investing $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 aimed at expanding their markets and increasing their exports to more than 110 markets around the world.

  • The 2018 Fall Economic Statement announced investments of $290 million over five years to help Canadian businesses export and grow and to strengthen the TCS and enhance the support it provides to Canadian exporters.

  • Since the program was established, the Canadian Technology Accelerator (CTA) has resulted in $510 million in capital raised, $190 million in new revenue, 996 strategic partnerships and 2,215 new jobs for 489 small, high-potential, high-growth firms in key technology sectors (information and communications technologies, life sciences and cleantech). The CTA program is offered in Boston, New York, San Francisco, Tokyo, Hong Kong, Taipei and Singapore.

Associated links

Contacts

Michael Jones
Director of Communications
Office of the Minister of International Trade Diversification
343-550-2368
Michael.Jones@international.gc.ca

Media Relations Office
Global Affairs Canada
343-203-7700
media@international.gc.ca
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