Minister of International Trade announces funding for Canadian clean technology companies at GLOBE Forum
March 15, 2018 - Ottawa, Ontario - Global Affairs Canada
The global clean technology market represents promising opportunities for Canadian businesses, a source of new jobs for the middle class and a driver of prosperity for all Canadians.
Yesterday at the GLOBE Forum in Vancouver, the Honourable François-Philippe Champagne, Minister of International Trade, announced $15 million in funding to help Canadian firms expand into new markets under the Trade Commissioner Service International Business Development Strategy for clean technology, which is part of Canada’s Innovation and Skills Plan. The funding will also help connect Canadian firms to international financing for climate related projects in developing countries that are coping with the consequences of climate change.
Minister Champagne made the announcement at the GLOBE Forum 2018 during the launch of a workshop series designed to help small and medium-sized enterprises capitalize on the growing business opportunities in markets such as China and the EU.
While at GLOBE, Minister Champagne talked to forum delegates about the steps that Canada is taking to attract more international investment to Canada’s clean technology sector through the new Invest in Canada organization. The recently created organization will bring together all levels of government and private sector partners to provide seamless, single-window service to global investors.
“As the world moves to transition to a low-carbon economy, Canadian cleantech and green infrastructure firms have the opportunity to be true global leaders. Clean technology will help grow Canadian exports, deliver clean economic growth and create good, well‐paying jobs for Canadians.”
- François-Philippe Champagne, Minister of International Trade
Four out of five Canadian clean tech companies are exporters.
Between 2012 and 2016, clean tech exports increased by 22%, to more than $11.5 billion.
Last year, total world-wide investment in clean tech reached US$1 trillion. By 2020—in just two years—the total is expected to surpass US$2.5 trillion.
The Canadian clean tech sector stands to gain under the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), which removes all tariffs on clean tech products.
The recently signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) includes a stand-alone, enforceable chapter on the environment, Canada’s most ambitious environment chapter in a free trade agreement to date.
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