10 Oct Exporting to Canada
According to the office for national statistics the UK exported £8.2 billion of goods and services to Canada in 2016, making it the UK’s eighth biggest export market outside the EU.
Canada has a stable political environment and a strong record of economic growth. It offers opportunities for UK companies across all sectors.
The implementation of the EU-Canada Comprehensive Economic and Trade Agreement (CETA) opens up further opportunities for UK companies as well as removing barriers to trade.
CETA also gives UK investors assured preferential access into the USA and Mexico for goods produced in Canada that comply with rules of origin requirements under the North American Free Trade Agreement (NAFTA).
Benefits for UK businesses
There are a number of reasons to choose Canada as an export destination:
- it has similar legal and business practices to the UK
- there are fewer trade restrictions due to the CETA agreement
- it offers close proximity and easier access to the US market
- it has a strong business and consumer base
- like the UK, it is considered to have one of the most transparent legislatures, with Canada ranked as one of the least corrupt nations in the world.
Top goods and services imported into Canada
- vehicles (not railway or tramway vehicles)
- boilers and machinery
- electrical and electronic equipment
- distillation products and mineral fuels, including oil
- plastics and plastic products
- optical, technical, photographic and medical apparatus
- pearls, precious stones, metals and coins
- furniture, lighting, signs and prefabricated buildings
- iron or steel products
As with any country there are challenges to exporting. To find out more information Contact us at Logicom Hub