Opportunities Abound in Cross-Border Trade Between Canada and U.S.

According to the U.S. Ambassador it’s time for Canada to take advantage of ample opportunities for trade with our neighbours to the south.

H.E. Bruce Heyman United States of America Ambassador to Canada, at the Ottawa Chamber of Commerce Mayor's Breakfast event

Bruce Heyman, United States of America Ambassador to Canada, at the Ottawa Chamber of Commerce Mayor’s Breakfast event

The longstanding, close relationship between Canada and the U.S. offers a plethora of opportunities for cross-border trade. This relationship already fosters the largest trading partnership in the world today. In 2013 alone, Canada traded $735 billion goods and services with the U.S., more than ever before. To put that into perspective, that’s over $2 billion per day. In fact Canada trades more with the state of Michigan than it does with the entire European Union. And it’s no mystery when we share the longest unprotected land border in the world, values, language, and even weather.

U.S. Ambassador to Canada, Bruce Heyman – a self-proclaimed optimist, has rolled out initiatives aimed at increasing trade, jobs and investment. A recent initiative invites Governors from all 50 U.S. states to visit Canada in order to discuss economic growth through trade and investment. Likewise, Premiers from all 13 Canadian provinces and territories will be invited to the U.S. to do the same. This initiative is in the same spirit as the SelectUSA Summit which will see delegates from 70 Canadian businesses and organizations travel to Washington, D.C. this March to learn about growing their businesses by investing in the United States.

With a GDP of over $16 trillion and a population of over 317 million, it certainly seems like there is opportunity enough. Ambassador Heyman points out that as partners, as in any relationship, there are challenges, but also plenty of opportunities. Building on this already strong economic relationship between the two countries will reap major returns in the near future, as both nations continue to prosper economically.

“When one does well, the other does well – so whether we expand U.S. investment in Canada or Canadian investment in the United States – we both prosper.” US Ambassador to Canada, Bruce Heyman

And he has seen it first hand in his home state of Illinois, where bilateral trade with Canada totals almost $59 billion, more than our country’s trade with Germany, Japan and South Korea combined.

Ambassador Heyman has nothing but enthusiasm and hope for the future, claiming his position as U.S. Ambassador to Canada to be the best job in the American government. He speaks of Ottawa as representative of the Canadian nation, highlighting the city’s knack for seizing opportunities.

“Give [Ottawa] a frozen waterway and it sees the longest ice rink in the world…the world is at your doorstep here in Ottawa.”

 

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Pamela Hyatt is a freelance writer for the Ottawa Chamber of Commerce and is the Content Marketing Specialist, for the Forum for International Trade Training (FITT). To learn more about her and view her portfolio visit www.pamelahyatt.com, or connect with her onTwitterPinterest and LinkedIN

 

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Categories: Business, Economic Development

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