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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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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


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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


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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


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Total Canadian Exports & ImportsCanada to New York, New Jersey, ConnecticutLast 5 yearsValue in Millions of Dollars

Source data: Statistics Canada


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

Source data: Statistics Canada


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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


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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


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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


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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


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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


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    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


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    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


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    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


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    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


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    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


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    Contact:

    Senior Trade Commissioner: Louis Poisson

    Canadian Consulate General, NY

    1251 Ave. of the Americas

    Tel: 212-596-1670

    Fax: 212-596-1793

    Email: louis.poisson@international.gc.ca