May 27, 2014
• The mandate of the Canada-Atlantic Provinces Agreement on International Business Development (IBDA) is to help established exporters in Atlantic Canada expand their activities into new and more diversified markets, and to help new exporters get started.
• The funding of the Agreement is cost-shared between the federal government (70%) and the four Atlantic provincial governments (30%).
• Economic growth in Atlantic Canada is tied to improved trade performance, particularly among small and medium-sized enterprises (SMEs). The IBDA funds activities that help enterprising companies overcome obstacles and seize opportunities in new markets.
• The IBDA is aligned with the Government of Canada’s Global Markets Action Plan, and supports other national strategies like the Strategy for Engagement in the Americas. It also aims to help Atlantic Canada prepare for free trade agreements with partners like the European Union.
• The Agreement currently focuses on export development in sectors such as:
o Aerospace and defence
o Building products
o Consumer products
o Education and training
o Renewable energy and clean technologies
o Environmental industries
o Food and beverage
o Information and communication technologies
o Life sciences and biotechnology
o Ocean technologies
• Every $1 million in exports sustains four to five jobs in Atlantic Canada.