Famous for its wealth in natural resources, human capital and technology, Canada seeks to deepen its relationship in Asia and play a more assertive role in the global economy. It has bolstered its commitment to the Asian market through several free trade agreements and economic partnerships with countries such as India, Korea and Japan.
How then does Canada pave the way for more economic collaboration? A look at the profile of companies taking advantage of this closer cooperation shows greater participation by the burgeoning incubation and green technology industries, aside from the traditional mining, tourism and education sectors.
MaRS, the largest start-up incubator in the country, provides Canadian entrepreneurs with the facilities and guidance to develop their products and market them around the world. Its top management travels to China, Japan and Korea regularly to foster and develop collaboration. This allows many of the companies under the MaRs umbrella to introduce their products in foreign markets.
Allana Potash, a publicly traded mining corporation, has developed new cost effective and environmentally friendly means of extracting potash from its rich mines in in Ethiopia and Argentina.
By first liquefying the potash, extractors will cut processing time and will be able to ship the product sooner without compromising on its quality. After fully implementing this process in 2105, the company looks to become a major player in the potash market and deliver share value growth to its investors, some of whom are based in Asia.
Canada has mastered the marketing of the country as a top tourist destination. The Ontario Tourism Marketing Partnership Corporation has led the charge in putting the state’s name on the bucket lists of countless travelers, particularly from China, Japan and Korea. While the Niagara Falls and Toronto appear to be the most popular tourist draws, the OTMPC goes beyond conventional marketing in developing strategies to reach the Asian business traveler.
Clearly, innovation has become the buzzword in the branding of Canada as a preferred business partner. Already established in the domestic market and in its North American neighbors, Canadian businesses look towards Asia for growth and introduce its brand of innovation to the this massive market.
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