Here is some suggesting summer reading on Québec’s and Canada’s performance in the international marketplace.
1) Adapting to a strong Canadian dollar
EDC has just published a white paper titled Adapting to a Strong Canadian Dollar aimed at suggesting strategies that exporters can use to increase their international competitiveness despite a strong dollar.
While the Canadian dollar fell after the U.S. financial crisis and stayed below US85 cents between fall 2008 and spring 2009, it has since risen sharply and EDC expects that it will stay at around US90 cents until 2012. Even if the dollar were to remain below parity, providing Canadian exporters with a slight edge, the loonie’s rise since 2003 has eroded their competitiveness in U.S. and foreign markets.
In this regard, EDC presents the key strategies adopted by Canadian exporters in order to thrive despite the high Canadian dollar, namely, market diversification and innovation.
2) 2010-2103 Que?bec Research and Innovation Strategy (QRIS)
In the same vein, the ministère du Développement économique, de l’Innovation et de l’Exportation has just published its 2010-2013 Québec Research and Innovation Strategy, which places innovation at the forefront of Québec’s economic development. The QRIS focuses on four key areas of intervention:
More competitive research recognized internationally;
A more creative, enterprising population;
Enhanced productivity and competitiveness through innovation;
Major developmental projects.
The “enhanced productivity and competitiveness through innovation” component is of particular interest to us because it focuses on international commercialization. In fact, two new measures are being implemented, one devoted to low-carbon footprint products and the other to commercialization plans for technological innovation. Over 30 innovation commercialization projects are planned between and 2013. It will be interesting to see how these measures are implemented. Please consult the directory of financial assistance sources to stay informed about the different programs available to Laval exporters.
What’s also interesting is that measures pertaining to technical validation and technology showcases will be relaxed. The technology showcase component of the Business Assistance Program (BAP) is especially relevant for businesses seeking to export a technology as it will now be easier for these innovators to penetrate international markets.
3) Québec in the world
If you like statistics, the Institut de la Statistique du Québec has just published Le Québec dans le monde, available free of charge. It compiles the most current economic indicators on 235 countries and territories, broken down into four main sections:
A summary placing Québec in the world;
Tables comparing the 235 countries and territories based on 95 economic indicators;
235 profiles of countries and territories, providing economic profiles using these same 95 indicators;
Maps of countries by continent.
We hope you enjoy the readings!