Monday, 27 May 2024

DOING BUSINESS IN CANADA-Canada:An Important Trading Partner for Our Country

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DOING BUSINESS IN CANADA-Canada:An Important Trading Partner for Our Country

Athens, May 27, 2024 | Enterprise Greece, in collaboration with the Office of Economic & Commercial Affairs of the Consulate General of Greece in Toronto, successfully hosted the twenty-first webinar "Doing Business in... challenges and opportunities" on Wednesday, May 22, 2024, focusing on the promising market of Canada for Greece, for the second time.

The event's success was confirmed by a total of 170 registrations. Participants and speakers from the Greek embassy, consulate, and Greek business community highlighted the crucial role of the CETA agreement in boosting exports. They also discussed the specific characteristics of the Canadian market, with an emphasis on the food and beverage, construction materials, aluminum, innovation, and startup sectors.

The food and beverage sector holds an important position in overall exports to the Canadian market, thanks to the strong presence of the Greek community in Canada, which can further promote Greek products. A special mention was for the efforts made to highlight Greek kiwi and Greek wine. Notably, Canada is the third largest export market for Greek wine, which is why promotional actions are carried out by institutional bodies in collaboration with major global spirits importers.

Speakers noted a positive outlook for cosmetics and personal care products, with an annual estimated growth rate of 2% until 2028, and for pharmaceuticals, due to the ease of licensing between the EU and Canada. Regarding innovation companies and startups, it was mentioned that there is a robust ecosystem to support them, and for services, there is potential access to the US markets as well.

The speakers also discussed the unique characteristics of the Canadian market. Although Canada is the second largest country in the world, most of its population is concentrated in three major urban centers near the USA. This fact facilitates business activity and creates opportunities for certified Greek building materials, given the imbalance between supply and demand in the real estate sector.

Opening the event, the CEO of Enterprise Greece, Dr. Marinos Giannopoulos, stated: "The significant progress made since our previous event and the strong desire expressed by both business sides, led us to the decision to proceed with a new ‘Doing Business in Canada’ webinar. Trade relations between the two countries have always been good, with Canada being an important target market for Greek businesses, ideal for exporting high-quality products. In recent years, we have observed an impressive increase in exports, which highlights Canada as a valuable trade partner for our country."

The Ambassador of Greece to Canada, Mrs. Aikaterini Dimaki, also addressed a speech and Opportunities and challenges for Greek companies were presented by Mr. Dionysis Protopapas, General Counselor IEF II of the Economic & Commercial Affairs Office of the Consulate General of Greece in Toronto. He stated: "The Canadian market confirms the expectations of Greek businesses. Even in this challenging year when Greek exports show a recession, our exports to Canada maintain an upward trend. The goal now is to increase the number of industries with an export presence in Canada. Food packaging materials, pharmaceuticals, and industrial products such as optical fibers, copper cables, industrial pumps, and iron products for technical projects show good prospects for entry into Canada. Our goal must be methodical work with companies and institutions, such as Enterprise Greece, which will allow us, in a horizon of 2-3 years, to achieve substantial expansion of our exports."

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