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Last week, the Chamber and the Missouri Association of Manufacturers hosted Consul General of Canada Dr. Roy Norton to discuss the U.S.-Canada trade relationship. In honor of his visit, we've put together a short list of reasons why you might want to consider doing business with Canada.
Business is booming between Missouri and our international neighbor to the north. Our state exports $4.7 billion to Canada annually, selling more goods to the country than Missouri’s next four largest foreign markets combined. All told, an estimated 163,800 Missouri jobs depend on trade and investment with Canada. This burgeoning trade relationship makes it a lot easier for businesses that are new to the export game to learn the ropes.
Canada wants to do business. As a member of NAFTA, Canada eliminated tariffs on all industrial and most agricultural products imported from the United States. By removing barriers to trade, border and regulatory cooperation initiatives will continue to make United States and Canadian supply chains more efficient and more integrated. This will provide enhanced opportunities in particular for U.S. firms seeking to enter the Canadian aerospace and automotive sector supply chains.
While doing business in Canada isn’t exactly like doing business in the United States—they have a different form of government for one—there are a lot of similarities. Most conventions that apply in business culture in the United States apply in Canada, and for the most part, we share a common language.
There is a myriad of information out there to help you dive deeper into the opportunities and challenges of doing business in Canada—so much that it could be a little overwhelming. Below are a few resources that we found useful when writing this article:
The Chamber’s International Business Council promotes export opportunities for Springfield area businesses, connects Chamber members with international trade resources and works to position the Springfield area as a favorable location for foreign direct investment.