Canada’s newly elected Liberal government, headed by Prime Minister Justin Trudeau, has pushed for numerous investments to maintain the positive economic growth, low inflation and low unemployment in order to keep Canada top of mind as a key export, import market. Canada is a stable and low cost country for doing business and the free trade agreement between Europe and Canada has further facilitated companies’ expansion into Canada by eliminating 99% of tariffs, facilitating labour exchange and harmonizing standards and certification. CETA was implemented September 21st, 2017.
Canada’s economy is the tenth largest in the world and a majority of the 35 million population live within 200 km to the world’s largest economy of USA. Canada is a young and modern nation with business culture similar to Sweden, providing easy and transparent business discussions. Canada’s winter weather is often appealing to Swedish visitors with world class ski resorts such as Whistler and a nation of NHL hockey fans, cheering for Sweden’s own Nylander, Karlsson and Sedin. Canada is often considered a good business test market into North America, before entering the large USA market by taking advantage of the NAFTA (North American Free Trade Agreement).
Canada’s resource based industries, including mining, water, forestry, energy, oil and gas have fit well into the interests and competencies of Swedish industry. With quickly growing major cities, Canada needs to keep up demand for improving infrastructure and expanding local transportation networks. Canada’s large size demonstrates challenges and seeks innovation within technology/ICT, communication and e-commerce, industries in which companies from a mature and knowledgeable Swedish market often find beneficial partnerships with Canadian companies, universities or research institutes. Swedish healthcare companies also find similarities with doing business in Canada dealing with a public healthcare system. Within all industries, Business Sweden can help find opportunities and assist with making the most efficient market entry strategy.
Business Sweden has one office in Toronto, Canada. We are working closely with our Team Sweden partners being the Swedish embassy, the Swedish Consulates the Swedish Canadian Chamber of Commerce and other key organizations and companies. Business Sweden offers a wide range of services for Swedish companies looking to enter the market or grow existing operations. We support companies, in any size, to reach their full international potential by supporting with market analysis and market entry strategy, business development, finding distributors, agents or retailers or by supporting with company establishment/incorporation. Contact us if you want to learn more about how we can accelerate your entry into the Canadian market while minimizing the risk or want to get support in growing your revenues in Canada.