Trade and Investment British Columbia Blog
Welcome to Trade and Invest British Columbia’s blog, where we get up-close and personal with the people, events, organizations and opportunities that are shaping British Columbia's vibrant and diverse economy.
 
Read on to discover how you can build your business by investing in British Columbia and trading with our companies.

Sip Sip Hooray for BC Wine

September 9, 2021
British Columbia (B.C.) wineries win awards at national and international wine competitions each year. In 2019, they won more than 1,000 medals.  British Columbia wineries won their first International Wine & Spirit Competition Avery Trophy in the 1990s for Best Chardonnay in the World.  In just three decades, B.C.'s vibrant wines have burst onto the global wine scene, establishing a reputation for excellence and producing beautifully crafted wines, each reflecting the unique character of the province's distinct and ideal growing regions. B.C. Wine Country is rich with spectacular, diverse, and ex... continue reading
Posted by Williamson, Daniele
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How British Columbia Businesses Can Influence International Trade Policy

August 13, 2021
Supporting trade and investment in BC From supporting trade for British Columbia (B.C.) agrifood, forestry, and mining producers' interests, to assisting with the procurement of firefighter axes or negotiating new trade rules for today’s modern economy, the Trade Policy and Negotiations team (TPN) at Trade and Invest BC does a lot to support B.C. businesses. TPN works behind the scenes to advance and defend B.C.’s interests in disputes and trade negotiations in domestic and international markets. TPN helps inform B.C. businesses on how to use free trade agreements (FTAs) to benefit their business and assists in r... continue reading
Posted by Williamson, Daniele
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The Mercosur Trading Bloc and its Benefits to BC Businesses

August 10, 2021
Three trillion dollars is a large number. A figure of that magnitude is difficult to visualize, but it represents the Gross Domestic Product (GDP) of the South American trading bloc and customs union known as Mercosur. With its massive GDP and a population of roughly 295 million inhabitants, Mercosur is the fifth largest economy in the world. As it turns out, Canada is negotiating a free trade agreement (FTA) with the Mercosur trading bloc that will provide numerous economic benefits to B.C. businesses. Mercosur, the Spanish abbreviation for Southern Common Market, includes four partner countries: Argentina, Brazil, Paraguay, an... continue reading
Posted by Cole Van Hinte
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How the Canada-United States-Mexico Agreement Benefits BC Businesses

August 4, 2021
Four hundred and ninety-five million consumers and a combined GDP of over US$24 trillion makes North America one of the world’s largest economies. Because of this, the United States (U.S.) and Mexico are ideal locations for trade and investment, and the now year-old Canada-United States-Mexico Agreement (CUSMA) gives British Columbia (B.C.) businesses an added competitive edge when expanding into these markets. Free trade agreements (FTAs) such as the CUSMA reduce trade barriers within the North American market, providing an array of opportunities to expand your business. Before we explore the benefits of this ag... continue reading
Posted by Cole Van Hinte
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BC Agritech has a Fruitful Future

July 28, 2021
The future of agriculture is focused on creating food for a growing global population with fewer resources, a lower carbon footprint, and less physical labour. What does this future look like? It will be a thriving agritech industry filled with innovation such as mushroom-picking robots and QR codes showing the origins of the steak on a dinner plate.   British Columbia (B.C.) has a world class reputation for quality agriculture and seafood products, and it is a natural fit that agritech is an emerging industry in the province. Farming and fishing have been an integral part of B.C.’s economy, and technology has propell... continue reading
Posted by Cole Van Hinte
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CETA is a Pathway to International Trade Success in the EU

July 6, 2021
Not only is the European Union (EU) the second-largest economy in the world, it also contains a population of roughly 450 million consumers. An economy of this magnitude presents British Columbia (B.C.) companies with immense international business opportunities, but did you know that there are ways to make your B.C. business even more competitive when engaging with the European market? The Comprehensive Economic and Trade Agreement (CETA) between Canada and the EU allows your B.C. business to gain preferential market access to the European market. This agreement gives B.C. businesses a competitive edge over international compet... continue reading
Posted by Cole Van Hinte
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How BC Businesses can Benefit from the CPTPP

June 29, 2021
Have you ever considered the benefits of expanding your business and reaching customers within international markets? Did you know that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) could help your B.C. business access international markets with over 460 million potential purchasing customers? These are questions worth asking, and we are here to help your business take full advantage of Canada’s trade agreements and export opportunities. British Columbia’s Pacific Coast location presents easy global access and opportunities to connect your business to the Asia-Pacific markets. Brit... continue reading
Posted by Cole Van Hinte
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4 Steps to Claim Preferential Tariffs Under Free Trade Agreements

June 25, 2021
  True or False? It’s the importing country’s responsibility to identify preferential tariff treatment for B.C. exporters False! Canada’s free trade agreements (FTA) offer British Columbia businesses preferential tariff reductions in international markets. But, did you know the importing country does not automatically apply those preferential treatments to your goods at the border? You need to claim those benefits by referencing the preferential origin of your product that allows you to claim the preferential tariff. Let’s break it down:   Suppose an experienced exporter or a new to expo... continue reading
Posted by Williamson, Daniele
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Free Trade Benefits BC Businesses

June 22, 2021
International trade and investment are an essential source of economic growth and opportunity for British Columbia. In 2020, B.C. exported nearly $40 billion in goods to other countries. Trade helps to sustain B.C.’s small, open economy. So why does free trade improve British Columbia’s economic environment? Let’s overview some of the key reasons as to why free trade is so beneficial to British Columbia.   The Bank of Canada estimates 1 in 6 Canadian jobs is linked to export Free trade has had an overall positive effect on global wealth. The Bank of Canada reports that the most significant increase in gl... continue reading
Posted by Williamson, Daniele
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Grow Your BC Business with Free Trade Agreements

June 18, 2021
Free trade agreements (FTAs) give British Columbia businesses the opportunity to grow. By granting preferential access to global markets, FTAs reduce barriers to trade such as tariffs, quotas and non-tariff barriers.  However, many B.C. companies are still paying higher tariffs on export and import goods and services. Why is this the case?  In 2018, a European Union (EU) study showed that only 49.6 percent of the Canadian goods eligible for preferential tariffs under the Canada-EU Comprehensive Economic and Trade Agreement (CETA) benefited from the tariffs. The utilization rate for Canadian exports to the EU increased ... continue reading
Posted by Williamson, Daniele
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