By: UCanTrade Staff
According to Canadian Manufacturers & Exporters (CME) Magazine, not only are Canada and the US top global investment partners, they also share the ‘largest bilateral trade relationship’ in the world. Even with existing US Protectionist trade barriers, CME reports the US account for 74% of Canada’s exports. Due to a recovering US economy, CME says Export Development Canada (EDC) is forecasting a 12% growth in value from Canada’s 2013 Export Value of $334.7 billion by 2015.
UCanTrade, Inc.’s CEO, Jim Pettinger, suggests a weak ‘Loonie’ is another driving factor in increased Canadian, specifically British Columbian, company exports to the US. “Although most U.S. markets will usually support premium pricing anyway,” says Pettinger, “the weak Loonie is adding at least another 10% to the bottom line.”
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Source: Weak ‘Loonie’ drives interest in US sales by BC Companies
Source: CME’s 20/20 Nov-Dec 2014 article, “Penetrating US trade barriers remains challenging for Canadian exporters.”