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Meeting the Challenges of a Global Competitive Marketplace. A Presentation by: Louis Poisson Senior Trade Commissioner Canadian Consulate General, NY To the Council of State Governments Eastern Regional Conference July, 26 th ,2005. Canada – US Trading Relationship What we all know.

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slide1

Meeting the Challenges of a Global Competitive Marketplace

A Presentation by:

Louis Poisson

Senior Trade Commissioner

Canadian Consulate General, NY

To the

Council of State Governments Eastern Regional Conference

July, 26th,2005

canada us trading relationship what we all know
Canada – US Trading RelationshipWhat we all know
  • Largest and most comprehensive in the world
    • Bilateral trade of US $510 Billion
      • $1.35 Billion daily
      • 37,000 trucks per day cross the border
      • 500,000 people per day cross the border
    • Bilateral Trade tripled since FTA (1989)
    • Growth of bilateral trade (CDA-USA) of 6% per year since NAFTA
  • Canada’s trade with the US is:
    • 52% of Canada’s GDP, 80%+ Canada’s exports, 70%+ imports
    • 23%+ of US exports, 17%+ of US imports
canada us trading relationship what we know
Canada – US Trading RelationshipWhat we know
  • We have the world’s largest investment relationship
    • The US is largest foreign investor in Canada - US $171 Billion in 2004
    • Canada is 7th largest foreign investor in the US - US $124 Billion in 2004
slide4
Total Canadian Exports & ImportsCanada to New York, New Jersey, ConnecticutLast 5 yearsValue in Millions of Dollars

Source data: Statistics Canada

slide5
Total Canadian Exports & ImportsCanada to DE, ME, MD, MA, NH, PA, VTLast 5 yearsValue in Millions of Dollars

Source data: Statistics Canada

canada us trading relationship what is less known
Canada – US Trading RelationshipWhat is less known
  • Bilateral trade in services (2003) US $46.4 billion
    • $US 7.6 billion surplus for the U.S.A.
  • Canada is number one foreign market in 39 states
    • Top 3 for other 8 states
  • Canada is largest energy supplier
    • 88% natural gas – supply 1/3 total demand in Northeastern U.S.
    • 100% electricity
    • 17% Oil
canada us trading relationship what is less known7
Canada – US Trading RelationshipWhat is less known
  • Bilateral trade in agri-food (2003) US $20 billion
    • Per capita consumption of US agri-food exports
      • Canadians: $274
      • Mexicans: $ 70
      • Japanese: $66
      • Europeans: $17
  • Canadians consumed per capita US $6,364 of US goods and services
  • Americans consumed per capita US $838 of Canadian products
canada us trading relationship what is less known8
Canada – US Trading RelationshipWhat is less known
  • 5 million US jobs
  • 2 million Canadian jobs
  • 40% of US Trade with Canada is infra-firm
  • 60% of US wood/paper imports
  • 20% of US imports used in production process or consumed
  • Windsor – Detroit border crossing busiest in the world
canada us trading relationship challenges
Canada – US Trading RelationshipChallenges
  • Internal issues
    • Softwood lumber
    • BSE
    • COOL
    • Bio-Terrorism Act
    • Drug re-importation
  • External Challenges
    • The Asian challenges
    • Outsourcing
    • Textile Quotas
    • Security
    • S&T lead
    • Global supply chain
canada us trading relationship trade impacts select internal issues
Canada – US Trading RelationshipTrade impacts – select internal issues
  • Softwood Lumber
      • 27% duty passed on to US consumers. Inflated housing costs US $6,000 1
      • US housing market needs 1/3 supply from stable external source
      • 25 US jobs in lumber-consuming industry vs. 1 US job in lumber producing
      • Affects some 7 million American workers
  • B.S.E.
      • Cost US $4.7 billion to US beef industry 2
      • US exports packing jobs in Canada
      • US beef exports down 82% below 2003 levels
      • Link with US beef ban in key export markets

_____________________________________

1. National Association of home builders

2. Kansas Department of Agriculture

canada us trading relationship trade impacts select internal issues11
Canada – US Trading RelationshipTrade impacts – select internal issues
  • Country of Origin Labelling
      • Cost to consumers US $3.9 billion 1
      • Segregation, sourcing complexities
      • Not linked to food safety-exclusions
  • Bio-Terrorism Act
      • Necessary
      • Enhanced bilateral cooperation
      • Direct impact on US $20 billion agri-food trade
      • Increased costs to producers
      • Increased risks vs. commitments for delivery

_____________________________________

1.US Department of Agriculture

canada us trading relationship partnering to meet external challenges
Canada – US Trading RelationshipPartnering to meet external challenges
  • Asian Challenge
    • Canada lost 1st place to China in residential furniture
    • Facilitate dialogue between associations
    • Encourage business partnerships
      • Market proximity/after sales servicing
      • Develop niche markets
      • Demand for smaller volumes
      • Blending high-end and import product lines
canada us trading relationship partnering to meet external challenges13
Canada – US Trading RelationshipPartnering to meet external challenges
  • Outsourcing
    • Bilateral trade in services: US $46.4 billion
        • US $7.6 billion US surplus
    • Total investments: US $295 billion
    • 7 million jobs
    • US trade with Canada is 40% intra-firm
    • $1 outsourced generates $1.14 in benefits to US economy1
        • .58 in cost savings, new exports, profits repatriation
        • .46 in value of labour redeployment

____________________________

1. McKinsey Global Institute: 2003

canada us trading relationship partnering to meet external challenges14
Canada – US Trading RelationshipPartnering to meet external challenges
  • Science & Technology
    • Mar 05 Technology Transfer Roundtable
          • Focus – Biotech/Stem Cell, Fuel Cell, Nanotech
    • Mar 05 Stem Cell Research Roundtable in NJ
          • Ongoing dialogue
          • Identification of areas of interest
    • Aug 05 New Technology Partnership Position
    • Sep 05 Basic research leading to Canada-NJ partnership development in Stem Cell research
    • Nov 05 Stem Cell Research Mission
          • Brain Repair Center in Halifax
          • Canadian Nanotech Alliance in Edmonton
canada us trading relationship partnering to meet external challenges15
Canada – US Trading RelationshipPartnering to meet external challenges
  • SECURITY
    • Sep 05 Reinforced Canadian Presence at New York Maritime Security Expo
    • Fall 05 Research on Homeland Security Market
          • NY, CT, NJ, PA
          • Opportunities for Partnership
    • Spring 06 Briefings/Outreach in Canada
    • Fall 06 Incoming Technology Partnership Missions
contact
Contact:

Senior Trade Commissioner: Louis Poisson

Canadian Consulate General, NY

1251 Ave. of the Americas

Tel: 212-596-1670

Fax: 212-596-1793

Email: [email protected]

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