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The B.C. government is spending just over $2 million on a new strategy that is aimed at helping local businesses invest internationally.
The B.C. government is spending just over $2 million on a new strategy that is aimed at helping local businesses invest internationally.
The Trade Diversification Strategy, announced Friday, is meant to help to find ways for the province to increase investment in current international markets while also expanding to Mexico, Taiwan, and Vietnam.
The strategy will provide $1.2 million to Export Navigator, which is responsible for helping local businesses navigate the exporting process. Another $913,000 will go to the World Trade Center Vancouver to bring in cohorts from the Trade Accelerator Program, meant to guide and support small and medium-sized business owners in overcoming export barriers.
B.C. jobs minister Brenda Bailey says the new plan will help local businesses grow.
“By expanding our trade relationships and promoting B.C.’s innovative, sustainable products and services to the world, we are continuing our work to support businesses and people in all regions of our province,” she said.
Part of this strategy will include setting up offices in Mexico and Taiwan to promote B.C.’s products. The province has already opened an office in Ho Chi Minh City, Vietnam, intended to promote local wood products.
According to the provincial government, B.C. is the fourth-largest exporter among Canadian provinces and territories, exporting nearly $65 billion worth of goods in 2022.
Energy products, machinery, and agriculture are the primary exports for the province.
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