The global economic recovery depends on inclusive and sustainable cooperation and collaboration on trade. We need to strengthen multilateral institutions, such as the World Trade Organization, which are vital to supporting rules-based trade and giving our businesses the stability they need to grow globally. Our approach to strengthening Canada’s trade relationships includes discussions with Mercosur, the Pacific Alliance, and potentially, the Association of Southeast Asian Nations.Īs we work toward our economic recovery, we will continue to work with our international partners and take a leadership role to keep supply chains open, strengthen and diversify trade relationships, and support rules-based trade for the 21st century. This gives our Canadian businesses access to 1.5 billion customers around the world and creates more opportunities and jobs for Canadians.

That is why, through our Export Diversification Strategy, our government recommitted to finding new ways to serve and better support Canadian business owners and entrepreneurs to succeed in the global marketplace.įree trade agreements, such as the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and Canada–United States–Mexico Agreement (CUSMA), also known as the new NAFTA, expand and diversify market opportunities. We are recognized globally as a strong, stable, and reliable trading nation and one of the best places in the world to invest and start a business.īut global supply chains are under pressure now more than ever. Trade remains crucial to the prosperity of Canadians, accounting for nearly two thirds of our national economy and supporting 3.3 million Canadian jobs before COVID-19. But COVID-19 should not–cannot–be used as an excuse to stop trading or to turn inward. This report highlights how Canadian innovation and resilience has allowed our businesses to continue to compete in the global marketplace and our government’s commitment to supporting trade through turbulent times.Īs COVID-19 swept the world, many countries responded by closing their doors to trade in an effort to protect their people. Our businesses have shown incredible flexibility and creativity to adapt and find innovative solutions to the challenges they faced. During this difficult time, we have seen entrepreneurs, workers, and all Canadians come together to support one another. Over the last few months, countries around the world have come together to fight the global pandemic, working to ensure the health and safety of our people while mitigating the economic impact of the pandemic.

This report gives Canadians a snapshot of our economic activities in 2019 while recognizing the unprecedented global uncertainty of 2020 amid the COVID-19 pandemic. As Canada’s Minister of Small Business, Export Promotion and International Trade, I am pleased to present the Canada’s State of Trade 2020 report on behalf of the Government of Canada.

International trade imports and exports