World Country Guide

Business Profile

Economy
Canada is the seventh-largest trading nation and a member of the G8 group of major industrial economies. The country has immense natural resources and a high standard of living. Agriculture and fisheries are particularly important; Canada exports more than half of its agricultural produce – principally grain and oil seeds – and is the world’s leading exporter of fish. Timber is another important sector, given that more than 40 per cent of the land area is forest. As a mineral producer, Canada exports crude oil and natural gas, copper, nickel, zinc, iron ore, asbestos, cement, coal and potash. Energy requirements are met by a mixture of hydroelectric (two-thirds), nuclear and oil-fired generating stations. Manufacturing covers a wide range of industries from heavy engineering and chemicals to vehicle production and agro-business to office automation and commercial printing.
After running a substantial trade deficit throughout much of the 1990s, Canada now enjoys a net trade surplus, currently estimated at US$40 billion for the year 2000-2001. Slightly more than 75 per cent of the country’s trade is with the USA, making this the world’s largest single bilateral trade route. In common with most OECD countries, GDP growth slowed during 2002 to just over 1 per cent although the outlook for the next few years is rather better. The 1989 free trade agreement signed with the USA formed the basis for the North American Free Trade Agreement (NAFTA); Mexico has joined as the third signatory and other Latin American countries may sign up in due course. After the USA, Canada’s trade partners are, in order of descending volume: Japan, the UK, Germany, Taiwan and France.

Business
Usual courtesies observed including exchange of business cards, making appointments, etc. Office hours: Mon-Fri 0900-1700.

Commercial Information
The following organisations can offer advice: Canada–United Kingdom Chamber of Commerce, 38 Grosvenor Street, London W1K 4DP, UK (tel: (020) 7258 6576 or 7258 6572 (trade information service; enquiries cost 10 plus VAT for non-members); fax: (020) 7258 6594; e-mail: info@canada-uk.org; website: www.canada-uk.org); or Canadian Chamber of Commerce, Head Office, Delta Office Tower, 350 Sparks Street, Suite 501, Ottawa, Ontario K1R 7S8 (tel: (613) 238 4000; fax: (613) 238 7643; e-mail: info@chamber.ca; website: www.chamber.ca). Each province and territory has its own regional chamber of commerce; consult the individual Provinces/Territories sections for more information.

Conferences/Conventions
All the major business centres, ie Calgary, Edmonton, Montral, Ottawa, Toronto and Vancouver, offer extensive convention and conference facilities. For general information on conferences and conventions in Canada, contact the Meetings and Incentive Officer at the Canadian High Commission in London (see Contact Addresses section). Consult the individual Provinces/Territories sections for more information.