Opportunities within CETA Free trade agreement between Canada and EU:
On February 15, 2017 the CETA agreement was passed in the European parliament with expectation of a provisional implementation in May-June of this year. This agreement is expected to increase trade between Canada and the EU within all sectors.
With CETA coming into force, the import tariffs will be completely eliminated on 98% of products, certification procedures will be facilitated and labor mobility made easier. This is very beneficial for specifically SMEs which will be able to, at a lower cost, start export to Canada. Access to Canadian public contracts will be granted at all levels of government for EU companies. Considering the heavy investments in infrastructure planned for the coming 10-20 years, this is opening up great opportunities for Swedish companies in construction, transportation, clean energy and ICT.
Opportunities within Mining:
After a period of low prices on raw materials the mining industry has slowly seen an increase in commodity prices showing optimism in the Canadian market. Canadian and Swedish mining industries see many similarities. Sweden can benefit immensely from Canada’s expertise in finding and developing new deposits in a responsible, environmentally friendly and cost effective way. Canada is home to some of the world’s leading service and supply companies, especially in key areas such as engineering and construction. Swedish miners have been vocal about their desire to see more suppliers enter the market and Canada is a natural choice as there are many companies.
Opportunities within Infrastructure:
The Canadian government is investing heavily into infrastructure with $186 billion CAD to be spent over twelve years and has just announced the formation of a new bank to finance infrastructure projects. Heavy investments in infrastructure will give opportunities for Swedish solutions into urban re-development projects, roads and bridges, airports, etc. There is a strong focus from the Canadian government to look for innovative and sustainable solutions which will position the Swedish companies well. Wastewater is also of focus in Canada with redevelopments and upgrades to storm water and drinking water plants. Within infrastructure, there is much interest in developing smart cities, focused on traffic safety and bicycle and pedestrian friendly crossings.
Opportunities within Consumer Goods:
The retail industry in Canada has grown over 15% in past five years, valued at over $500 billion CAD in 2014 with sportswear and footwear categories being the key industry drivers of growth
Sportswear is the fastest growing segment of clothing, partly due to the “athleisure” trend of athletic clothing designed to be worn outside of the gym. Interior and exterior home décor and design purchases will mainly be driven by older demographic consumers and the “staycation trend” of taking vacation at home, which imply purchases of outdoor furniture, barbecues and garden sheds. Household and kitchen products are influenced by the increasing interest of organic food, healthier lifestyle and an environmental awareness, which increase outlook for kitchenware as well as green household cleaning supplies and energy saving household appliances.