Canada Korea Free Trade Agreement Opens Doors for British Columbia Exporters

Canada Korea Free Trade Agreement Opens Doors for British Columbia Exporters

November 27, 2014 Posted by

Minister Teresa Wat visits the Busan, Korea store of BC Export Award winner Arc'teryx.

During her 2014 Asia trade mission, Minister of International Trade Teresa Wat paid a visit to the Busan, Korea retail store of Arc’teryx, a British Columbia company enjoying export success in the province’s fourth-largest goods export market.

Based in North Vancouver, Arc’teryx is a global design and manufacturing company specializing in technical high-performance outerwear and equipment. They distribute their outerwear and equipment through more than 3,000 retail locations worldwide, including branded stores in Europe, North America and Asia.  Arc’teryx was recently recognized at the 2014 B.C. Export Awards where they took top honours as Exporter of the Year.

Minister Wat’s visit to Korea marks the first time a trade minister from Canada has gone to Korea since the Canada-Korea Free Trade Agreement (CKFTA) was signed in September. British Columbia exported $1.8 billion in goods to Korea in 2013 and that number is projected to grow in the wake of the CKFTA deal, providing clear benefits for companies doing business there.

“With over 16 fully branded stores and another 42 retail partners, Korea is one of Arc’teryx’ largest and most significant markets,” said Arc’teryx general manager and president Vincent Wauters. “Without a doubt, this trade agreement gives us a real competitive advantage.  It will help increase the distribution of our B.C.-made products and support the ongoing growth of our local manufacturing operations.”

An important aspect of the work done by British Columbia’s Ministry of International Trade is providing support to B.C. companies like Arc’teryx who want to expand their business to overseas markets. When companies are ready for international growth, a team of export development specialists can help them assess and develop their potential in key international markets, and take advantage of international agreements designed to reduce or eliminate barriers to trade.

Working alongside the ministry’s British Columbia-based trade and investment team, the province’s in-market Trade and Investment Representatives leverage their well-developed networks and firsthand knowledge of local markets to make introductions to potential buyers, investors and other in-market partners, and they help B.C. companies and communities identify attractive investment opportunities.

British Columbia has 11 trade and investment representative office locations (TIRs) based in Japan, Korea, India, East China, North China, South China, Hong Kong, Europe and the United States. The TIR team works to deliver a range of services and expertise while also showcasing British Columbia products and resources.
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