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To learn about additional funding or financing solutions available in your region, or... Services range from small business consulting to accelerator programs and alternate types of financing solutions. Canada-wide Regional development agencies across Canada Community Futures Network of Canada Nunavut Baffin Business Development Corporation ."

...amp;ED) offer new innovative tech companies $50,000 to $500,000-plus each year to offset development costs. To learn more about the IRAP, you can contact them by phone at 1-877-994-4727. For SR&ED, check out the overview of the program and use the Self-Assessment and Learning Tool to better understand eligibility requirements for this."

...uently the first sources of financing for startups that can’t self-fund. Early in a company’s lifecycle,equity financing can be critical to growing a business. The goal of seed round financing is to raise enough capital from outside investors to get a company off the ground or develop a product prototype. Entrepreneurs can raise money through."

...public and private funding sources for financial assistance for content for TV, films or digital media. The Government of Canada has a number of excellent resources too: Canadian Heritage—Access a list of funding programs for the cultural sector, including arts, books, cultural spaces, film, music and more. CanExport for SMEs is a funding."

The following support programs can help fund costs, ranging from exhibiting at trade shows to obtaining product certification in your target market. Canada-wide programs CanExport for SMEs is a funding program offered by the Canadian government for Canadian small- and medium-sized enterprises (SMEs). Additional information Business Benefits."

The State of Women’s Entrepreneurship in Canada report by the Women Entrepreneurship Knowledge Hub (WEKH) found that only 15.3% of women are incorporated compared to 26.2% of men. Read more here. https://www.edc.ca/en/solutions/insurance/credit-insurance/select-credit-insurance.html."

The fund reimburses up to 50% of approved export activities for small and medium-sized enterprises. The Government of Canada has a number of excellent resources too: CanExport for SMEs is a funding program offered by the Canadian government that allows eligible companies, Canadian small- and medium-sized enterprises (SMEs), to apply online for up."

...technology and innovation companies via their venture capital partners. To learn about additional funding or financing solutionsServices range from small business consulting to accelerator programs and alternate types of financing solutions. Additional resources Regional development agencies across Canada | Innovation, Science and Economic."

...ssioner Service trade events TradeFairDates All Conferences Events Eye 10times To inquire about upcoming events in the Mexican market, contact the Trade Commissioner Service (TCS) office. Getting funding to participate in trade shows There are a few government grants to help you pay for trade show participation costs: CanExport for SMEs is."

...exporters, innovators, associations and communities to grow their business and access new international opportunities through CanExport, including: CanExport SMEs offers up to $50,000 to help Canadian small- and medium-sized enterprises (SMEs) break into new international markets. CanExport Innovation offers up to $75,000 to help Canadian."

EDC's guide, Trade shows and you, provides tips on how to make the most of your trade show ... Please review their websites and eligibility criteria for more detail: CanExport for SMEs is a funding program offered by the Canadian government that allows eligible companies, Canadian small- and medium-sized enterprises (SMEs), to apply online for up."

The following resources are a good starting point: Clean Growth Hub is specifically designed to help cleantech companies navigate programs available to them and help with understanding additional sources of funding and assistance. The Jobs and Growth Fund (JGF) offered by each regional development agency (RDA) aims to support entrepreneurs to."

...nada. The Trade Commissioner Service (TCS) has a page called Funding for business women that lists programs to help Canadian women-owned or women-led businesses capitalize on opportunities, diversify markets and grow globally. The Business Development Bank of Canada’s (BDC’s) Women in Technology Venture Fund provides venture capital investment."

...ns such as SheEO,RevolutionHER,Women’s Enterprise Organizations of Canada and the Women Entrepreneurship Knowledge Hub (WEKH). Industry experts such as members of associations and leading members of your business community. Government organizations such as Export Development Canada (EDC), Canadian Commercial Corporation,Business."

...pment Canada (EDC) provides expert insights, solutions, relevant articles and success stories to help Women in Trade take their business global. EDC’s newest guide, Going global: Empowering women through trade, offers how-to advice, innovative ideas and insightful tips to help Canadian women-owned businesses succeed."

...mpany <1 million CB Custom Screenprinting 25-11-2023 Canada (Complete Health Care Corp) Working Capital Support/General Corporate Purposes Tourism & Government Services Guarantee Working capital support for a Canadian company <1 million Complete Health Care Corp 25-11-2023 Canada (Digital Technology Canada."

The information technology sector also benefits from various tax incentives such as: R&D Tax Incentive (similar to the Scientific Research and Experimental Development (SR&ED) in Canada) A gaming tax rebate The Australian Tax Office has made it relatively easy for overseas companies to do business here without having to engage in the."

To search for opportunities in R&D, visit ResearchNet. Other key research institutions include: Social Sciences and Humanities Research Council (SSHRC) provides funding for three R&D programs: Talent, Insight & Connection Canada Research Coordinating Committee has opportunities via the New Frontiers in Research Fund.."

...r considerations when selling to Europe. See our Country Info pages to find out if EDC has restrictions on doing business in a certain country. The Canadian Trade Commissioner Service (TCS) provides a detailed overview of doing business in Greece, as well as market insights and sector reports. Country Commercial Guides are prepared annually by."

Scott Moore Executive Vice-President, Finance and Chief Financial Officer Export Development Canada Scott Moore Scott Moore became Executive Vice-President, Finance and Chief Financial Officer in October 2023, a little more than one year after joining EDC as its Senior Vice-President, Finance and Chief Financial Officer. In his current role, Scott."

Start your search with these useful resources: Shopify's guide, The State of the Ecommerce Fashion Industry: Statistics, Trends & Strategy to use in 2023, breaks down global industry data by segment and includes key drivers and threats. Global Fashion Industry Statistics from Fashion United is another report that provides."

...tion of ESG in the management of company investmentInclusion, Diversity, and Equity The promotion and management of ID&E at EDC based on factors such as gender, age, cultural background, physical abilities, race, religion and sexual orientation, at all levels of the organization and across the value chain. Talent The ability to attract,."

Before you sell across borders with your e-commerce business, it’s a good idea to do your market research. This will help you figure out if there’s a demand for your product and ensure that your online sales are successful.

Find the right market

• Export Development Canada (EDC) provides guidance to help you find and target international customers. Read Know your international market: Building your competitive advantage abroad.

Doing market research

• Step 4 – Setting out: Identifying your target market of the Trade Commissioner Service’s (TCS) Step-by-Step Guide to Exporting can help you research your target market.
• EDC’s Country and market information is also an excellent resource for market research.

Additional resources

• Market entry advisors | EDC
• Global Ecommerce Explained: Stats and Trends to Watch in 2023 | Shopify
• The Size of Shopify’s Market Share | Tooltester

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To successfully scale your business, entrepreneurs must consider two critical components:

1. Access to new market opportunities; and
2. Capital to facilitate growth.

In our on-demand webinar, How women-led companies can access new markets & capital, the expert panel discusses what steps you can consider as you strategically plan how to overcome market challenges and access growth capital.

Additional resources

• Women in Trade | Export Development Canada (EDC)
• Business Women in International Trade | Trade Commissioner Service (TCS)
• Women-focused business delegations and events | TCS
• On-demand webinars | EDC

"

When you sell online to customers in China, it’s important to understand the customs requirements to avoid your products getting detained by the Chinese authorities or unexpected fees for your customers.

Customs regulations

China has introduced new regulations that make it easier for most products to clear customs if:

• You’re selling to the Chinese market for the first time.
• You’re selling to customers for personal use only.

If you meet the criteria above, you may not have to meet the usual requirements for licensing, registration and filing.

• Learn more in Highlights of the updated regulations on cross-border e-commerce retail imports in China from Switzerland Global Enterprise.

Additional resources

• A customs broker can help you understand the requirements for your products. Find a customs broker using the Canadian Society of Customs Brokers’ search tool.
• A freight forwarder can help ship your orders, clear customs and deal with import/export documentation. Find one using the Canadian International Freight Forwarders Association’s (CIFFA) membership directory or EDC InList, a vetted list of service providers from Export Development Canada.

"

business in China8 1 China’s business enviRonMent g CONTENTS Redesigned incentives for the coast and the SEZs encourage high-end manufacturing, information and communications technology (ICT) and green industries. By the end of 2010, imported goods and equipment for R&D centres established by multinational companies will be exempt from tariffs, import taxes and goods and services taxes. Further changes are expected in the new release of the Ministry of Commerce’s Catalogue for the Guidance of Foreign Investment Industries2 (referred to here as the “Foreign Investment Catalogue”). This document, which appears periodically, announces substantive revisions in rules, simplified approval procedures and changes in the list of sectors and industries open to foreign investment. In addition to financial incentives, China is opening its capital markets to foreign companies. Expected changes include the following: › In strategic sectors, restrictions on foreign investment in Chinese-listed companies will be lifted. › Rules for investment in Chinese securities and in mergers and acquisitions will be standardized. › Qualified companies will be permitted to list and issue corporate bonds or medium-term notes. › Procedures for settling foreign exchange capital funds will be simplified and deadlines for capital contributions may be extended. Despite China’s economic robustness, however, the country’s commercial environment can be risky for foreign investors. Potential difficulties include: › a lack of legal protection for investor rights and intellectual property rights; › inconsistent application of regulations; › bureaucratic interference; and › corruption. The authorities are aware of these difficulties and are attempting to deal with them through legislative and judicial changes such as the property laws promulgated in 2007, new bankruptcy laws and clearer regulations on mergers and acquisitions. Even so, inconsistencies in applying and enforcing these changes continue. Such problems are aggravated by the way in which regulations and their interpretation can vary arbitrarily from region to region, and from industry to industry. For any given project, for example, various levels of government may be playing the roles of landlord, supplier, customer, or business partner. In one recent change, regulatory responsibility for FDI – in favoured categories where the investment is less than US$300 million – has been delegated to lower levels of government. Such inconsistencies mean that foreign investors must be very diligent in finding out exactly who is responsible for approving, licensing and regulating the projects in which they’re involved, and what registrations are necessary to document investors’ rights. Investors also should be aware that if foreign ownership of a company is 25 per cent or less, the business may viewed as Chinese-owned with respect to some regulations, including those policies that govern the ability of the company to obtain offshore funding. Reducing the risks of establishing and maintaining a healthy operation in China requires an important commitment from a Canadian investor at all levels of management. This includes establishing and fostering good relations with government officials, labour representatives, joint venture partners if any, and other potential stakeholders in the region where the investment is located. 2 the most recent revision to the Catalogue was published in 2007, but the Ministry announced in the fall of 2010 that it would shortly be issuing a new edition. http://www.fdi.gov.cn/pub/FDI_EN/Laws/law_en_info.jsp?docid=87372 http://www.fdi.gov.cn/pub/FDI_EN/Laws/law_en_info.jsp?docid=87372 eDC | Doing business in China9 1 China’s business enviRonMent g CONTENTS 1.1.6 The relationship of politics and business China has been a socialist, one-party state since 1949. As a result, politics, government and business remain very closely intertwined despite the seismic shift toward private enterprise that has occurred during the past decade. In general, strategic commodities and industries remain state-controlled, while the commercial and private sectors operate in a market-oriented environment. However, even apparently private companies can have an element of government involvement. Because this can affect how a Chinese business operates, part of your due diligence should be to establish whether your prospective customer or partner is a state enterprise or a private firm – and if the latter, how much government control still exists behind the scenes. There are three main types of Chinese businesses: Businesses owned by the state These tend to be large, strategically important enterprises, such as communications, transportation, energy, heavy industry and resources. During the past few years, however, segments of these enterprises have been released from tight state control and function as independent firms with autonomous management and full responsibility for their finances. The consequence has been a decline in the number of enterprises that are wholly owned and controlled by the state. Collectives State-owned enterprises are commonly urban-based. Collectives are largely rural and are composed of small business organizations and individuals. Their numbers are declining because of the overall Chinese shift toward private enterprise. Private businesses Most private businesses are small, individually-owned firms operating in the service sector, in light industry and in general commerce. They now make up a large proportion of China’s established companies. 1.2 The China-Canada trade relationship Canadian exports to China have increased sharply during the past five years, resulting in China now ranking as Canada’s third-largest export destination. We sold about $11.2 billion worth of goods there in 2009, up 6.6 per cent over the previous year, which makes Canada the only major trading partner to show a year-over-year increase for that period. Canadian exporters are especially active in ICT, transportation, aerospace and auto parts. We are also showing success, to varying degrees, in areas such as building products and construction materials, environ- mental equipment and services, agriculture, agri-food, energy, resources, mining and financial services. In terms of market share, though, we are lagging. The growth rate of our exports to China is less than that of any other major trading nation and, according to recent figures, about 21 countries export more goods and services to China than we do. As of mid-2010, moreover, several countries and regional trade groups either had completed or were negotiating free trade agreements with China. Canada is not currently pursuing such an agreement, but is instead working toward a Foreign Investment Protection Agreement (FIPA) with Beijing. eDC | Doing business in China10 1 China’s business enviRonMent g CONTENTS 1.3 Researching China There are many sources of export-related information about China. The following list is far from exhaustive, but it will help you begin your market research. 1.3.1 China-specific resources for exporters › The federal government’s Canadian Trade Commissioner Service has a range of valuable resources for China. One of its most recent and comprehensive publications is Navigating China: A Guide to Doing Business 2010. There is also a list of service providers, where you can find purveyors of everything from accommodations to vehicle rentals. › The Canada China Business Council (CCBC) is a private, membership-based association that seeks to facilitate and to promote trade and investment between Canada and China. Its members represent many sectors of the Canadian economy, including financial services, legal services, information and communications technology, education, manufacturing, construction, transportation, mining and energy. › China is China’s main government web site and presents the official view of everything from sports to business. › The Hong Kong-Canada Business Association focuses on helping Canadian companies do business between Hong Kong and Canada, and through Hong Kong into China and Southeast Asia. › The Hong Kong Trade Development Council is a good source of information for trade events, market intelligence, sourcing and small business resources. › BizChina is a major source of official information about China’s industry, agriculture, finance, trade and economic affairs in general. It is operated by the Ministry of Commerce of the People’s Republic of China (MOFCOM). › The Asia-Pacific Foundation maintains a website that includes news and information about China and the rest of the Asia-Pacific region. › The CIA World Factbook has a useful chapter on China. http://www.tradecommissioner.gc.ca/eng/offices-china.jsp?cid=512 http://www.tradecommissioner.gc.ca/eng/offices-china.jsp?cid=512 http://www.tradecommissioner.gc.ca/eng/document.jsp?did=110224 http://www.tradecommissioner.gc.ca/eng/document.jsp?did=110224 http://www.tradecommissioner.gc.ca/eng/document.jsp?did=50246 http://www.ccbc.com/Default.aspx http://www.china.org.cn/ http://national.hkcba.com/ http://www.hktdc.com/ http://english.mofcom.gov.cn/bizchina/bizchina.html http://www.asiapacific.ca/ https://www.cia.gov/library/publications/the-world-factbook/geos/ch.html eDC | Doing business in China11 1 China’s business enviRonMent g CONTENTS 1.3.2 General resources for exporters › Export Development Canada (EDC) is a Crown corporation that provides financial services and global market expertise to Canadian exporters. It’s an invaluable resource for companies involved in foreign trade. › Canada Business is one of the first places you should go for general export information. It’s a collaborative network of federal (and in some cases provincial) government services that help"

The following resource provides insights into these regulatory considerations in Australia:

International IP protection

Developing a proactive intellectual property (IP) strategy is essential to the success of a developer’s enterprise and the protection of their creative work from pirates and competitors who want to take a game and use it without authorization or providing compensation.

• Protecting intellectual property in video games by the Canadian Intellectual Property Office (CIPO) provides insights in this industry to help you better understand the requirements to secure your IP.
• Doing business abroad: Protecting your IP in Australia also provides a general overview of IP protection in this market.

Compliance with data security regulations

If you’re planning to collect a client’s personal data through your digital product, be aware of the data protection laws in your target market. The regulations and standards that define the protection of data are complex and vary by country.

• DLA Piper will allow you to compare data protection laws around the world. Navigate between different tabs on the left-hand menu to find a definition of personal data, authority, collection and processing requirements.

Video games classification

Every film and computer game in Australia has to be classified before it can be legally available to the public.

• The Australian government has a page on computer games classification that provides a listing of relevant guides and the application process.
• Some computer games are exempt from the usual classification requirements(educational games and software, if their main purpose is for training, instruction or reference, as a manual, a lesson, an encyclopedia or guide).

Additional resources

• Protecting your IP | Export Development Canada (EDC)
• Protect IP outside Canada | CIPO

"

The organizations below will help you gain an understanding of the funding or financing solutions available. Services range from small business consulting to accelerator programs and alternate types of financing solutions.

• Canada's Regional Development Agencies (RDA) work closely with businesses and innovators in their regions to fuel economic growth that creates more well-paying middle-class jobs for Canadians.
• Yukonstruct offers members funding support from the Canadian Northern Economic Development Agency and Yukon Government.

You can contact them by telephone at 867-457-0150 or by email at info@yukonstruct.com.

Additional information

• Funding and supports for business | Yukon Government
• Trade Accelerator Program (TAP) | World Trade Centre Toronto

"

EDC Economics April 22, 2021 UNDERSTANDING CANADA’S GOODS EXPORTERS From trends in mining to top growth sectors, tracing the history of the Canadian goods trade from 2005 to 2020 2 KEY FINDINGS EXPORTER COUNTS: From a peak of 54,065 in 2005, the number of Canadian goods exporters fell sharply in the Global Financial Crisis to a low of 45,425 in 2010. Despite some gains, the exporter count inched up only to 50,542 in 2019. EXPORTERS BY FIRM SIZE: Most goods exporters in Canada (about 80%) are firms with less than 50 employees, but most export value (nearly 60%) comes from large exporters with more than 500 employees. • Medium-sized exporters (100-500 employees) experienced the strongest growth in population counts followed by large exporters (>500 employees). The number of small exporters (<100 employees) have fallen since 2005. EXPORTER PRODUCTIVITY: Despite the decline in the number of exporters (by 7%) over the past 15 years, the value of Canada’s goods exports grew significantly (by 37%). Medium-sized exporters led the growth in average export value per firm (up 75% notably higher than the growth of 47% for all firm sizes). 3 KEY FINDINGS CONTINUED REGIONAL DIMENSIONS: Ontario has the most goods exporters, but Western Canada has the highest average annual export value per exporter ($14 million), related to oil and gas. • The Territories (Yukon, Northwest Territories, and Nunavut) are the only region in Canada with growing exporter counts over the past 15 years. DIVERSIFICATION: Well-diversified exporters made further strides expanding into new markets, but most small-medium enterprise (SME) exporters remain highly-reliant on the United States. • The decline in exporter counts over the past 15 years is due to less diversified exporters with fewer than six export destinations. • The number of exporters selling to advanced economies fell overall, but the number of exporters and the value of exports to China grew significantly over the past 15 years. Export values also grew quickly to Africa, the Middle East, the rest of Asia and Australia. 4 KEY FINDINGS CONTINUED SECTORS: Comparative advantage and competitiveness for Canadian goods exporters shifted in the past two decades. The biggest winners in terms of increased exporter counts, include retail trade, agriculture, forestry, and real estate. Sectors that lost ground include manufacturers of wood products, clothing, furniture and printing. • Goods-producing sectors faced larger declines and slower recoveries than services sectors that exported goods. COVID-19: The pandemic impacted exporters across all sectors and industries, with goods exporters in service sectors suffering the biggest declines. Small exporters were hit disproportionally hard, especially those in Quebec and Ontario. • Canada experienced a significant decline in exporter count: 6% decline in March 2020 and a further 15% in April 2020. The initial impact of the pandemic caused a reduction of 4,000 exporters. 5 OVERVIEW OF CANADIAN GOODS EXPORTERS Source: EDC Economics; Statistics Canada 40 45 50 55 0 200 400 600 2005 2007 2009 2011 2013 2015 2017 2019 Export value rose over the past 15 years, while the number of exporters declined Value of exports (Billions, left axis) Number of exporters (Thousands, right axis) 10 13 13 4 3 1 1 0 5 10 15 0 or N/A 1 to 9 10 to 49 50 to 99 100 to 249 250 to 499 500 or more Number of employees Most Canadian exporters have less than 50 employees Thousands of exporting firms, 2017-2019 average 15 18 46 25 64 45 302 0 50 100 150 200 250 300 350 0 or N/A 1 to 9 10 to 49 50 to 99 100 to 249 250 to 499 500 or more Large firms export by far the most value 2017-2019 average, billions of dollars -20 -10 0 10 20 2005 2007 2009 2011 2013 2015 2017 2019 Since 2005, small exporter counts have lagged medium and large firms Percent change from 2005 Small Medium Large All • In 2019, Canada had 50,542 goods exporters by establishment*, who exported $553 billion of goods. The average export value per exporter was $11 million. • Canadian exporter counts fell significantly in the 2008-2009 Global Financial Crisis and haven’t recovered to previous levels. • SMEs (with less than 500 employees), account for 97% of all Canadian goods exporters and 41% of total export value. Average export value per SME exporter is $5 million. The number of small exporters (with less than 100 employees) has fallen since 2005, whereas medium and large exporters counts have increased. • Large enterprises account for only 3% of exporters, but contribute 59% of total export value. Average export value per large exporter is $255 million. Number of employees *By establishment counts separate business units in the same enterprise as separate entities. An enterprise can have multiple establishments, but an establishment can’t belong to multiple enterprises. 6 PROVINCIAL PROFILE • Ontario has the most exporters, followed by Quebec and British Columbia. Western Canada has the highest export value per exporter ($14 million), followed by Atlantic Canada ($12 million) and Ontario ($10 million). • Western Canada is especially reliant on SME exporters, related to oil and gas, wholesale trade and manufacturing. • All Canadian provincial regional groupings experienced a decline in exporters since 2005, but the Territories saw modest growth (accounting for 0.4% of total exports by value). • Western Canada experienced the highest growth by value (64%) , followed by the Territories (61%) and Atlantic Canada (41%). • The U.S., China and the United Kingdom are the Top 3 export destinations by exporter counts. 63 2,329 10,744 15,393 21,218 0 5,000 10,000 15,000 20,000 25,000 Territories Atlantic Canada Quebec Western Canada Ontario Ontario has the most goods exporters 2017-2019 average exporter counts -20 -10 0 10 20 2005 2007 2009 2011 2013 2015 2017 2019 Exporters counts declined for all provincial groupings Percent change from 2005 Atlantic Canada Quebec Ontario Western Canada Territories 0% 5% 10% 15% Western Canada Ontario Quebec Atlantic Canada Quebec and Atlantic Canada have much higher shares exporting to France Percent of exporters exporting to each destination, ex U.S. China United Kingdom Germany France Australia Japan South Korea Mexico 19 52 115 182 8 36 89 27 0 50 100 150 200 Atlantic Canada Quebec Ontario Western Canada Western Canada has the highest export value by SMEs 2019, billions of dollars SME Large firms Source: EDC Economics; Statistics Canada 7 PRODUCTIVITY Source: EDC Economics; Statistics Canada • Medium-sized exporters (100-499 employees) led the growth in average export value per exporter, growing by 75% from 2005 to 2019. Over the same period, large exporters grew by 15%. • Most SME exporters exported less than $1 million of goods in 2019. The top 23% of SME exporters accounted for 98% of total SME export values. • SME exporters with two or more export destinations have a significantly higher export value per firm ($17 million) than those with only one export market ($4 million). Exporters with two or more markets grew their export value at a faster rate (66%) than their one market counterparts (32%) in the past 15 years. • With the exception of medium-sized enterprises, there’s a positive relationship between the number of export destinations and the export value per firm. More export destinations means higher export value per firm. -50% 0% 50% 100% 2005 2007 2009 2011 2013 2015 2017 2019 Medium-sized exporters led the growth in export value per firm Percent change since 2005, by enterprise employment size All Medium Small Large 0 5 10 15 20 2005 2007 2009 2011 2013 2015 2017 2019 SMEs with multiple destinations grew faster Millions of dollars, by establishment firm size All SMEs 1 partner country 2 or more partner countries 0 10 20 30 1 2 3 to 5 6 to 9 10 or more Number of partner countries More export destinations often means more export value Export value “multiple” relative to same size firm exporting to one country Small Medium Large 0 100 200 300 400 0 20 40 60 < 1m 1-25m 25 - 99.9m 100 - 499.9m 500 - 999.9m >1bn Export value 23% of SME exporters account for 98% of total SME export value 2019, enterprise employment size Total export value, billions (left axis) Number of exporters (labelled) 34K 9K 1k 212 23 12 Hundreds 8 KEY EXPORT DESTINATIONS Source: EDC Economics; Statistics Canada Europe Latin America North America Oceania Asia Middle East Africa -1.0% -0.5% 0.0% 0.5% 1.0% 1.5% Growth is focused in Asia and MENA CAGR of exporter counts between 2005-2019, percent 3 4 4 5 10 11 42 0 10 20 30 40 50 Africa Oceania Middle East Latin America Asia Europe North America Exporters are focused on North America and the EU as their export destination 2019, thousands 2 2 2 3 3 3 3 4 5 41 0 10 20 30 40 Hong Kong South Korea Mexico Japan Australia France Germany United Kingdom China United States U.S. remains the most popular destination 2019, thousands -30 -20 -10 0 10 20 30 40 2005 2007 2009 2011 2013 2015 2017 2019 Exporter growth: The China story Percent change in exporter counts since 2005 United States China United Kingdom Germany France Australia • The United States remains by far the most popular export destination with 92% of all Canadian exporters exporting there, followed by Europe and Asia. • Between 2005 and 2019, export markets with the fastest growth are in Africa, the Middle East, Asia and Australia. Growth in Africa is driven by Nigeria, Senegal, Côte d’Ivoire and Burkina Faso. • By value, export growth was strongest since 2005 to Africa (compound annual growth rate, CAGR 7%), Asia (6%), and Europe (5%)."

It’s strongly recommended that you seek the advice of a tax advisor with Chinese tax expertise to discuss which taxes will apply to your specific situation and the potential benefits of the Double Taxation Avoidance Treaty signed between Canada and China. The following guides below are a good starting point. They provide a great overview of different taxes that may apply to foreign services providers in China and ways to mitigate risks of tax pitfalls.

Generally, there are two types of taxes that apply fees for services provided by non-resident companies to residents in China:

• Withholding tax (WT) or Enterprise Income Tax (EIT)
• Sales tax (VAT)

Withholding tax and Enterprise Income Tax (EIT)

• It’s usually EIT or WT that’s applied on your service fees in China. The difference between the two is that the WT is applied on passive income (royalties, dividends, etc.), while the EIT is applied on business profits when a non-resident company is deemed to have a permanent establishment (PE) in China.
• In China, the standard rate for EIT and WT can be found here. Rates may be reduced or eliminated due to a tax treaty between China and other countries.
• The Tax Treaty between Canada and China may reduce or eliminate these taxes. But it’s not always consistent or clear on how China tax authorities interpret fees for technical services (i.e. software development) for the purpose of a tax treaty, so it’s not always clear which tax and rate will apply.
  • According to the Deloitte's Tax Highlights for China (see page 6), technical service fees are subject to EIT tax rate unless reduced by a treaty.
• In either case, as mentioned above, if any foreign corporate income tax is withheld from your business profits, you may be able to claim a deduction from any Canadian tax payable as provided by Article 21 (1) of the Tax Treaty between Canada and China.
• In addition, it’s usually the Chinese customer's responsibility—not yours—to act as withholding agent in China to calculate and remit those taxes to Chinese tax authorities.
• To benefit from the tax treaty, you may need to provide your customer in China acertificate of residency. The certificate allows Canadian companies to be exempt from paying income tax to the foreign country or to pay tax at a reduced rate, based on the terms of the tax treaty between Canada and the foreign country. Here’s the CRA page on obtaining a certificate of residency.

Value-added tax (VAT)

• The CRA doesn’t require Canadian companies to collect GST/HST on exported services as provided on this CRA page. Instead, a sales tax at destination may apply.
• In China, the sales tax is called value-added tax (VAT) and ranges from 5% to 16% depending on the type of service provided. Unlike WT & EIT that are withheld from the service fee, VAT is charged on top of the service fee.
  • According to the EY's Worldwide VAT, GST (see Section D: VAT rates), 6% VAT rate applies to information and technicality services, including software services.
  • Section C_:_ Who is liable. Refer to page 300 (sub-section Non-established businesses) of the EY's guide provides that “Subsidiaries of foreign enterprises that supply goods or taxable services in China are treated in the same manner as other taxable persons. Foreign enterprises that do not sell goods or taxable services in China may not register for VAT. If a foreign unit or individual outside China provides taxable services in China and does not have a business office in China, the purchaser must be the withholding agent.” This means thatthe customer in China will be responsible for calculating and remitting VAT to the local tax authorities—not you. Canadian non-resident businesses aren’t required to register for VAT in China and don’t have filing obligations. In addition, since VAT is the tax that's charged on consumption of goods and services, it’s the purchaser of services, not seller, who assumes it.

Consulting an accountant with Chinese tax expertise will allow you to confirm which taxes may apply to you, the rate and your filing obligations.

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"

both have clear benefits for member companies • Suggesting EDC consider coaching companies one on one, especially for SMEs, which need more help • Highlighting the importance of NAFTA for women-owned businesses, which often build and grow in the US before entering the Canadian market • Observing that governments in other countries have been faster to ratify trade agreements, which gives companies in those countries an advantage, and encouraging Canada to move faster in this regard • Identifying cyber security as a key threat to Canadian businesses and urging Canada to do more to address this risk • Urging the new office of the Ombudsperson on Responsible Enterprise to focus on establishing responsible Canadian enterprise as a competitive advantage and to be careful not to penalize Canadian companies • Pointing out the need for investment in infrastructure to help get Canadian products to markets EDC | Summary of Proceedings – EDC Industry Stakeholder Panel 2018 4 Summary Key themes from the day’s discussion centered around: • Concerns about competitiveness of Canadian companies: Canadian policies and regulations, Indigenous relationships, and high cost of energy, labour, and land contribute to making Canada less attractive to businesses – particularly in contrast to the United States, where recent tax reform has created an environment that is very attractive to businesses. Companies urge the Government of Canada take action to align with its public statements of support for Canadian exporters. • Importance of NAFTA: While the United States is Canada’s largest trading partner, NAFTA is a critical instrument for many Canadian exporters. Canadian companies are keen to see this agreement finalized; while the negotiations are underway, uncertainty is leading to decision migration and a dampening of investment in Canadian operations. • Opportunities in other markets: The TPP and CETA enable Canadian exporters to expand into Asian and European markets, but awareness and understanding of these agreements remains low within many of the organizations represented at the Panel. EDC’s information dissemination programs can help Canadian businesses identify and capitalize on these opportunities. • Value of communications from EDC: Briefings, webinars, etc. from EDC are a key source of information to help Canadian companies understand and capitalize on opportunities within trade agreements. Panel participants urged EDC to continue these efforts, to specifically target SMEs and women-led businesses, and to continue face to face offerings, in addition to its web-based offerings. As a closing exercise, Lisa Kimmel, moderator for the day, asked participants what specific actions they would implement based on the day’s discussions. Responses included: • Inviting Peter Hall, EDC’s Chief Economist, to present to member organizations (CAMESE) • Communicating to members about EDC’s offerings (e.g. webinars) (CFIB) • Working with trade commissioners (ITAC) Closing In his closing remarks, Mr. Daignault thanked everyone for their participation and emphasized that his priority is ensuring that EDC remains relevant to its community of stakeholders. He noted that recent years had seen a trend of stable or falling membership, but that that has turned around and he is heartened to see that companies perceive value in what EDC offers. He expressed appreciation for the feedback shared throughout the Panel and communicated his intent to think about this feedback on Canada’s engagement in the global marketplace. He reiterated comments from others throughout the day regarding the need to control steps within the supply chain so that products are made by Canada, not just in Canada. He commented that the future of Canada’s industry is based on our ability to invest, not just trade, and encouraged a proactive approach to capital investment and acquisitions, noting a need for a vision in that regard. EDC | Summary of Proceedings – EDC Industry Stakeholder Panel 2018 5 APPENDIX: LIST OF EDC INDUSTRY STAKEHOLDER PANEL PARTICIPANTS John Gamble President and CEO Association of Consulting Engineering Companies (ACEC) Vincent Guglielmo Vice President Automotive Parts Manufacturers Association (APMA) Claire Citeau Executive Director Canadian Agri-Food Trade Alliance (CAFTA) Nicolas Todd Vice President, Policy, Communications and Government Relations Canadian Association of Defence and Security Industries (CADSI) Bob Kirke Executive Director Canadian Apparel Federation (CAF) Ryan McEachern Managing Director Mining Suppliers Trade Association (Canada) [formerly Canadian Association of Mining Equipment and Services for Export (CAMESE)] Francesca Iacurto Senior Advisor, Government Relations Canadian Association of Petroleum Producers (CAPP) Neil Parmenter President and CEO Canadian Bankers Association (CBA) Mary Van Buren President Canadian Construction Association (CCA) Perrin Beatty President and CEO Canadian Chamber of Commerce (CCC) Corinne Pohlmann Senior Vice President, National Affairs Canadian Federation of Independent Business (CFIB) Dennis Darby President Canadian Manufacturers and Exporters (CME) Joy Nott President Canadian Association of Importers and Exporters (IE Canada) Andre Leduc Vice-President, Government Relations & Policy Information Technologies Association of Canada (ITAC) Ben Chalmers Vice President, Communications and Policy Mining Association of Canada (MAC) Denis Leclerc Chair and President and CEO of Écotech Québec Canada Cleantech Alliance Silvia Pencak President Women Business Enterprises (WBE) Canada Government of Canada Participants: Chris Moran Director General, Trade Portfolio Strategy and Coordination Global Affairs Canada (GAC) EDC Participants: Benoit Daignault, President and CEO Bruce Dunlop, Vice-President, Risk Management and Acting Chief Risk Officer Catherine Decarie, Senior Vice-President, Corporate Affairs Peter Hall, Vice President and Chief Economist Regrets from: • Dr. Iain Christie, Aerospace Industry Association of Canada • Derek Nighbour, Forest Products Association of Canada"

The organizations below will help you gain and understanding of the funding or financing solutions available in Ontario. Services range from small business consulting to accelerator programs and alternate types of financing solutions.

• Northern Ontario Angels is the leading angel organization for Northern Ontario entrepreneurs.
• Angel Investors Ontario’s mission is to grow the investing ecosystem in Ontario and is the administrator of the Angel Network Program (ANP).

Additional resources

• Accelerated Growth Service | FedDev Ontario Small Business Services
• Programs, support and services | Ontario government
• Regional Innovation Centres | Ontario government
• Trade Accelerator Program (TAP) | World Trade Centre Toronto

"

The time to adopt ESG practices for your business is now. Apart from the obvious social gains of ESG, you'll drive up customer loyalty and sales, attract the best and brightest employees, and ratchet up your overall brand value.

Export Development Canada’s (EDC) guide on ESG and your international businesscovers how ESG can actually serve a financial benefit to your company, how to implement a strategy and finally, how ESG fits in EDC’s overall 10-year strategy.

Additional resources

• Embracing corporate social responsibility for stronger business relationships | EDC
• How corporate social responsibility strengthens your brand | EDC
• Rethinking strategy: A fresh approach to playing the long game | EDC
• ESG at EDC

"

Sorry, something is not displaying correctly. Please try at a later time. This content is not available. Learn why here. Why can’t I access this content? In order to view our webinars, EDC shares registration information with an external third-party application. In order for EDC to protect the privacy of EU citizens and comply with the General Data Protection Regulations, EU visitors are not automatically able to view EDC’s webinars. Please see EDC’s privacy notice for more information about how EDC protects your personal data. ​ Global Market Intelligence: Manage trade risks Get the latest market intelligence to manage trade volatility and tariffs and find opportunities for growth. Book your spot on MyEDC Don’t have a MyEDC Account? Create one now Register for this event Thanks for registering. You can join the webinar 15 minutes before it starts. Add to Calendar Google Outlook iCal For more trade knowledge, expert insights, and to view your events, check out your MyEDC dashboard. There has been an error. Please try again later. Just one more thing! Date and time Mon, August 11, 2025 3:00 pm - 4:00 pm ET Location Online Concerned about the current global market? We’re here to help you turn challenges, like tariffs and trade instability, into opportunities for business growth. In our new webinar, we’ll share global market intelligence, including insights into the promising India market, and sector-specific knowledge to help you mitigate the risks of trade uncertainty. Join us live on Wednesday, June 18, 2025, from 1 p.m. to 2 p.m. ET. We’ll explore: The current state of the global economy and key trends shaping the business landscape EDC’s latest global economic forecast scenarios, highlighting risks and opportunities Market opportunities and challenges for Canadian exporters in India Economic outlook and strategic considerations for the metals and critical minerals sector Our panel Moderator Alexandre Pelletier Alexandre Pelletier CEO Perkuto Speakers Janet Wilson Janet Wilson Senior Premium Content Manager Export Development Canada Janet Wilson Janet Annesley Janet Annesley Chief Sustainability Officer, Kiwetinohk Energy Corp. Janet Annesley Janet Stewart Janet Stewart Founder We Love Learning Who should watch Canadian exporters and entrepreneurs interested in global economic trends, new market opportunities and strategies for growing a business internationally. Book your spot on MyEDC Don’t have a MyEDC Account? Create one now Register for this event Thanks for registering. You can join the webinar 15 minutes before it starts. For more trade knowledge, expert insights, and to view your events, check out your MyEDC dashboard. There has been an error. Please try again later. Unlock access to all of EDC’s FREE international insights, webinars, guides, and resources by creating a MyEDC account. Your MyEDC Account is separate from any accounts used for EDC insurance products. Wait, before you go! Thanks for subscribing! Check your inbox for EDC’s TradeInsights, packed with the info Canadian businesses need most. Date modified: 2025-08-11"

Cash flow management

Your business may face cash flow issues because of labor and supply chain disruptions.

• Here are some Cash Flow Management Strategies from Shopify
• BDO’S How companies can better manage their cash flow also offers cashflow management tools.
• Innovation, Science and Economic Development Canada’s (ISED) offers funding programs and services for Canadian businesses with the Business Benefits Finder.

Managing your supply chain

• Watch Export Development Canada (EDC) webinar: The global supply chain: Turning crisis into opportunity. It provides an overview of protecting your supply chain against disruptions.
• Another EDC webinar to watch: Managing risks: 2022 learnings and 2023 forecasts

Government programs for employers

• Employment and Social Development Canada is responsible for managing and delivering the following programs to protect employees’ health and finances:
• Contact Service Canada at 1-800-O Canada (1-800-622-6232) to find out more about other government support available to your business.

Additional resource

• 5 tips: Managing risk in turbulent times | EDC
• Managing risk: A guide for exporters | EDC
• Managing political risk | EDC

"

Canadian funding for international development projects gathers the government of Canada funding opportunities for Canadian and international partners who work to reduce poverty in developing countries. There are two ways to apply for funding for an international development project:

1. The Canada Fund for Local Initiatives (CFLI) provides modest funding for small-scale, high-impact projects in more than 120 countries eligible for official development assistance (ODA). The CFLI has an annual programming budget of $16.3 million, with projects averaging $25,000 each.
2. The government also accepts applications through an unsolicited proposal to fund select initiatives that strongly align with Canada’s Feminist International Assistance Policy and program priorities.

Additional resources

• Calls for proposals | Global Affairs Canada (GAC)
• Current and upcoming funding opportunities | GAC

"

The following are available for entrepreneurs:

• Futurpreneur offers financing and mentorship for entrepreneurs between the ages of 18 and 39. They also have specific streams for Black and Indigenous entrepreneurs.
• The government of Ontario also has the Young Entrepreneur Business Grant, which provides grants ranging from $300 to $50,000 to entrepreneurs aged 16 to 34 (cutoff is sometimes 30).

Additional resources

• Business Benefits Finder | Innovation Science Economic Development (ISED)
• Youth entrepreneurship guide | FedDev Ontario

"

An Inclusive Culture Your work. Your life. Your place. Culture Culture Culture Section Employee stories Diversity & inclusion Social responsibility Search jobs EDC is a workplace grounded in mutual respect and supportiveness. We encourage each other to think big, be innovative, and put our full skills and knowledge to use. We build teams that root for each other, professionally—and personally, too. We’re here for each other because we know it takes all of our combined talents to help Canadian companies succeed internationally. Employee stories Play Video — The place to be Play Video — A high standard of excellence Play Video — Collaboration all the way close Working at the ground level with Productivity Hub and eventually ending up with the Knowledge Business team allowed me to gain a wide variety of skills in customer relations, design thinking and prototyping. The place to be Paul got his start at EDC as a student and now works full-time as an Innovation Associate. What impressed him right off the bat—even more than the abundant opportunities to gain experience and knowledge—was the amazing culture at EDC. The accessibility and respectfulness of leaders and colleagues, the supports offered to students and new hires, and the fact that EDC has been a Top 100 Employer for many years all made Paul proud to join and become part of the EDC team. “For anyone thinking about starting their career in a fascinating and rewarding way, EDC is the place to be!" close Moving from Toronto to Ottawa wasn’t the easiest decision, but coming to work at EDC has been one of the most rewarding things I’ve ever done. A high standard of excellence To find out what you’re made of, sometimes in life you need to step out of your comfort zone and face challenges head-on. Since joining EDC, Farnaz says she’s been continuously empowered to take on new tasks and always feels trusted to deliver high-calibre, meaningful work. She’s built a network and a solid foundation of broad, high-value skills that are helping fuel her career development within EDC. She also says this is one of the most welcoming workplaces she could imagine. “I’ve benefitted greatly from the friendly and social culture at EDC, which is uniquely coupled with a high standard of excellence.” close It’s exciting to work with smart and engaged people who know the business, the processes, the product, and the tools and systems. And they really, really care. Collaboration all the way Elaine led the development and delivery of EDC’s most complex corporate-wide training program ever, Project Monarch: a blend of eLearning, recorded demos, presentations and in-class training for more than 400 employees. She works daily with experts from across EDC, including underwriting, risk, claims, finance, business development, conversion and customer care. Her secret to success? “It helps to be creative, detail-oriented and flexible. And of course, we have a great team to do that.” The best part of my job is the people. The collective talent and knowledge of a team who all feel connected to and energized by the same goal. Diversity & inclusion Diversity and inclusion are more than just values at EDC: they’re fundamental strengths that go hand in hand. We actively reach out and recruit diverse talent to ensure our workforce reflects our country and the international marketplace where we do business. And we just as actively make sure that each of us is welcomed, accepted and free to bring—and be—our very best every day. Driven to give As an international business, we understand the world is made up of all kinds of communities. We give you the opportunity to give back to the communities and causes you care about in many ways: through annual Community Investment Days, educational and volunteering initiatives, and our partnership with CARE Canada to support economic development around the globe. Learn more Community Investment Day brings value not only to the charities we’re working with, but also to us as employees. To spend time giving back, with the full support of your employer, spend a day in the sun, and work with colleagues you don’t normally work with, creates a really great energy across the organization. It feels good to give back and have that valued and reinforced by the company you work for. A partnership of caring Since 2009, we’ve partnered with CARE Canada on the global community investment initiative, Beyond Exports—helping strengthen CARE’s international enterprise and economic development projects with EDC expertise. Each year, four EDC employees volunteer for assignments at CARE offices in Zambia, Peru and India and at CARE Canada’s Ottawa headquarters. Through those assignments, we help small enterprises and communities gain access to the economic and financial opportunities they need to grow and prosper. Learn more Play A highlight of my work was developing the Beyond Exports program, a partnership with CARE Canada to assign EDC staff to micro-enterprise projects abroad. This allows us to invest in communities, often in poor countries, while capturing the imagination of EDC staff. Where you belong Wherever you’re from, whatever your background, there’s a group for you at EDC to belong and contribute to. (And if there’s not, you can start one!) Today our employee-led groups include Women@EDC, LGBTQ2+, Latinos y Amigos and Students@EDC — all supported by our Diversity and Inclusion Committee. We also have a Fitness Committee and a Green Team you can join. Corporate sustainability and responsibility Every company needs to know what it stands for. That’s especially true in a global business like ours that takes on risk so Canadian companies can take on the world. If you want to know more about our principles and performance on everything from human rights to environmental sustainability, business integrity, engaging the communities in which we operate and inspiring our workforce, check out our Annual Report. See our results Life at EDC From our company-wide commitment to health and wellness to competitive compensation and amazing opportunities to grow—as a person and in your career—life at EDC is rich, varied and full of possibilities. Discover life at EDC Follow us Learn more about EDC’s business by following us on social media. LinkedIn | Instagram | Facebook | YouTube | X Let’s work together Search jobs Date modified: 2024-10-17"

The following can help you find potential investors in BC:

​Vancouver Angel Forum is one of the oldest angel gatherings in Canada. They provide networking and education to companies with a focus on finding and fostering strong investor-founder relationships.

VANTEC Angel Network is the largest member-based angel group in BC with 150+ members across the province and the Pacific Northwest. They introduce early-stage investors to promising technology ventures in British Columbia.

To learn about additional funding or financing solutions available in your region, or if you want one-on-one guidance to grow your business, contact the organizations below. Services range from small business consulting to accelerator programs and alternate types of financing solutions.

Additional resources

• Regional development agencies across Canada
• Canada's Trade Accelerator Program (TAP)| Export Development Canada (EDC)
• Small Business BC (SBBC)
• BC international market development for agri-food and seafood exporters

"

We strongly recommend that you seek advice from a tax adviser with Chinese tax expertise to discuss which taxes apply to your specific situation and the potential benefits of the Double Taxation Avoidance Treatysigned between Canada and China. Here are three taxes you need to consider:

1. Withholding tax (WT): Applies to technical services provided by a non-resident company (NRC) to a Chinese entity. The tax rate is 25% unless reduced by a tax treaty. See Deloitte’s Tax Guide for China for more information.
2. Enterprise income tax (EIT): At a rate of 25%, this tax is applied instead of withholding tax when a NRC has a permanent establishment (PE) in China. Different factors include employee or other personnel presence, connected projects, nature of the profits, etc.
3. Value-added tax (VAT): This tax applies to imported services purchased from an overseas NRC. Depending on the service, it’s charged on top of the service fee. China - 2021 Worldwide VAT, GST and Sales Tax Guide provides a detailed list of services on which VAT applies (includes “modern services” such as Information and technology services). SeeB. Scope of the taxandD. VAT ratesfor more information.

Sales tax—who’s liable?

• If a foreign service provider isn’t established in China, the purchaser of services in China is responsible for paying VAT to the local tax authorities and must act as the withholding agent. See Section C. Who is liable: Non-established businesses and foreign enterprises.

Double Taxation Avoidance Treaty (DTAT)

• This tax agreement between Canada and Chinacan reduce the withholding tax and may provide preferential tax treatment to residents of member-countries.
• An accountant could confirm how this agreement would apply to your transaction.

Additional resources

• Taxes in China by the Canadian Trade Commissioner Service (TCS)
• Canadian SME Gateway to China to learn more about doing business in China.

"

The Black Entrepreneurship Loan Fund was launched in partnership with the Government of Canada, Black-led business organizations and several financial institutions.

• This $291-million fund allows Black entrepreneurs and business owners to access loans up to $250,000.
• These loans will help address systemic barriers that Black Canadians have faced when starting or growing a business. Applications are accepted through the Federation of African Canadian Economics (FACE).

Additional resources

• Black Entrepreneur Startup Program | Futurpreneur
• Business Benefit Finder | Innovation, Science and Economic Development Canada (ISED)

"

Steven Richards Senior Vice-President and Chief Risk Officer Export Development Canada Steven Richards Steven Richards was appointed as EDC’s Chief Risk Officer in November 2024. In this role, Steven manages the financial, operational and strategic risks of the Corporation, including the Compliance & Ethics, Risk Quantification, Enterprise Risk Management, Credit Adjudication and Portfolio Oversight functions. Prior to joining EDC, Steven served as Managing Director, Head of Enterprise Risk & Analytics, and Deputy to Chief Risk Officer at CPP Investments. While there for more than a decade, he led the development of risk policies and frameworks spanning investment risk, model risk, sustainability risk and operational risk. He also held senior positions in strategy, business planning and internal audit. Before this, Steven worked in risk management at Manulife Financial. At the start of his career, Steven spent over seven years in Asia and Europe working in infrastructure and telecommunications. He holds an MBA from the University of Toronto, and a BSc in Engineering from Queen's University. He is also proficient in French and Japanese. Posts by Steven Podcast March 14, 2025 Growing a plant-based food business in new markets Article February 10, 2025 Chile: A market to watch for Canadian exporters Chile has become Canada’s top investment destination in South and Central America Article Definition of an Exporter | EDC Article Definition of an Exporter | EDC Article Definition of an Exporter | EDC Article Definition of an Exporter | EDC Case Study EDC’s Direct Lending Program Empowers Taste of Nature to Scale Exports Direct Lending program empowers Taste of Nature Foods to invest in infrastructure to scale exports. Trade Matters December 19, 2024 Beyond the beaches: Opportunities for Canadian exporters in the Philippines With 115 million people, the Philippines is one of the fastest-growing markets in Southeast Asia. Guide December 18, 2024 Global Financial Markets Keep track of the international markets that matter to your business. Get the latest financial and macroeconomic information for both developed and emerging markets. Guide December 18, 2024 Manage volatility with EDC’s Commodity Tracker Commodity prices can impact exporting, global trade and your business, so it’s important to be prepared for the challenges ahead. Article December 17, 2024 Indo-Pacific Agri-Food Office opens more opportunities for exporters Canada’s new Indo-Pacific Agriculture and Agri-Food Office serves up more opportunities for exporters. Article December 13, 2024 Measuring export performance with the right KPIs Discover how choosing the right metrics to track can help you understand your business abroad. Article December 12, 2024 2024: The year of the ballot box A global wave of change driven by economic discontent. Article December 10, 2024 How to find a trustworthy freight forwarder Discover 5 key insights to keep in mind when looking for a shipping partner. Article December 09, 2024 Navigating trade: How the U.S. election could impact Canadian exporters Whether you’re exporting to the U.S. or diversifying to other markets, EDC is here to help Webinar Global Economic Outlook: Plan for Success in 2025 Get the latest economic trends so you can make informed business decisions. Trade Matters December 04, 2024 Vietnam: A market of pho-nomenal opportunities Canada will find opportunities in Vietnam’s evolving economy where we hold comparative advantages Article December 02, 2024 Growing your business through mergers and acquisitions in 2025 increasing number of Canadian companies are expanding globally through mergers and acquisitions. Article December 02, 2024 Reaching global success with mergers and acquisitions Three experts explain how to use mergers and acquisitions to succeed globally. Article November 27, 2024 Tariffs 101: What are tariffs and how do they impact international trade? Explore how tariffs work, who pays them and if they’ll affect your sales. Trade Matters November 21, 2024 Golden years: Confluence of forces drives gold’s rush to new heights Gold prices surge due to many factors—including political uncertainty—but market to normalize in 2025 Article November 08, 2024 Doing business in the Philippines: Growing opportunities for Canadian exporters Our experts give their top tips on the business opportunities in the Philippines. Trade Matters November 07, 2024 A new frontier: How artificial intelligence is reshaping cleantech innovation A new frontier: How artificial intelligence is reshaping cleantech innovation Article November 05, 2024 Brazil: A market to watch for Canadian exporters As the largest economy in Latin America, Brazil offers vast business potential for Canadian investors Article October 29, 2024 Shining a light on Canada’s 2024 cleantech innovators Five Canadian cleantech companies are recognized by EDC for their innovations. Article October 28, 2024 North American outlook: Uncertain political environment adds to business, consumer fatigue Check out detailed insights on the economic outlook for the U.S., Mexico and Canada Case Study SRTX gains access to more working capital with EDC. EDC’s guarantee helps SRTX gain access to more working capital. Article October 24, 2024 CPTPP: Unlocking trade opportunities for Canadian SMEs 10 things Canadian small- to medium-sized companies need to know about this free trade agreement. Trade Matters October 24, 2024 Global Economic Outlook: A soft landing in sight Global economy stabilizes, but risks from elections and geopolitical tensions remain. Article October 17, 2024 How cleantech company Tantalus Systems is modernizing electrical grids Tantalus Systems enhances grid resilience with innovative technology. Success Story Clarius sees big potential in the Indo-Pacific See how Clarius has overcome many obstacles by working with Canada’s trade team. Trade Matters October 10, 2024 De-Japanification: Economic pivot offers opportunities for Canadian businesses Export Development Canada opens new representation in Tokyo, Japan Guide October 09, 2024 Global Economic Outlook—Autumn 2024 With unemployment continuing to rise and slumping global demand, Canadian companies are facing new potential risks. EDC’s Global Economic Outlook provides insights, including overviews of key countries, to help you make better business decisions. Case Study EDC's products empower Coulson Aviation's expansion Coulson Aviation's expansion into the Indo-Pacific region made possible by EDC. Trade Matters September 26, 2024 Trade finds a way to find a way Increase in barriers leads to changing commercial patterns Case Study EDC’s Portfolio Credit Insurance helps Three Farmers protect profits, expand business Learn about getting protection from international buyer non-payment. Article September 10, 2024 Canadian automotive export market to Mexico: An expert overview EDC Mike Brownhill on how Canadian car and car part manufacturers can enter the Mexican market. Trade Matters August 29, 2024 Currency volatility: Diversifying can payoff, but requires sound risk management Canadian exporters must diversify and adapt to stay competitive. Article August 27, 2024 The halal food industry: A global growth phenomenon Learn how you can position your products for exporting into halal markets Case Study EDC’s Foreign Exchange Facility Guarantee helps companies manage cash flow Find out how ECBVerdyol avoided tying up assets when hedging against FX risk. Article August 09, 2024 Strategies for reducing international freight costs Explore ways to manage your expenses when shipping international cargo Trade Matters July 18, 2024 Beginning the descent Key central banks manage careful interest rate pivot Article June 21, 2024 Indigenous companies well-positioned to capitalize on Canada’s net zero transition Learn about the opportunities and resources available to Indigenous companies Article June 21, 2024 Indigenous companies well-positioned to capitalize on Canada’s net zero transition Learn about the opportunities and resources available to Indigenous companies Article June 20, 2024 Indigenous companies well-positioned to capitalize on Canada’s net zero transition Learn about the opportunities and resources available to Indigenous companies Success Story Connecting Compass Food Sales to the world of global trade Learn how EDC helped kickstart this company’s export business Success Story Connecting Compass Food Sales to the world of global trade Learn how EDC helped kickstart this company’s export business Article May 26, 2024 How the upcoming U.S. election could impact Canadian companies EDC’s David Weiner offers tips for medium-sized Canadian exporters entering the United States. Success Story Coulson Aviation: Fighting wildfires from the air; managing risks on the ground BC firefighting company explores new Indo-Pacific markets with help from EDC Trade Matters May 09, 2024 Resilience key to thriving in uncertain times EDC’s Country Risk Quarterly takes stock of evolving risk landscape Guide May 07, 2024 Banking tips to get better financing for your business Key tips on how to optimize business financing from your bank. Article April 12, 2024 How project financing helped a Canadian gas company become a global wind energy leader Northland Power Inc. further expands within global markets Webinar Path to net zero: How Indigenous companies can benefit Indigenous procurement in a net zero economy. Webinar Diversify your global markets to hedge against risks Expand your understanding of how and where to diversify your markets to avoid overdependence and ensure future growth. Trade Matters February 29, 2024 Net zero pathfinder Support for SMEs critical to Canada’s economic, climate success Success Story Three Farmers Foods sees big potential in the Indo-Pacific Plant-based snackables company Three Farmers Foods sets their sights on new Asian markets."

Based on your answers, we recommend you explore our partners that help early exporters access additional cash. Card heading Entrepreneurs can apply online for small- or medium-sized business loans or access general business resources through BDC. Ideal for Lorem Ipsum Lorem Ipsum Lorem Ipsum Card heading Entrepreneurs can apply online for small- or medium-sized business loans or access general business resources through BDC. Ideal for Lorem Ipsum Lorem Ipsum Card heading Entrepreneurs can apply online for small- or medium-sized business loans or access general business resources through BDC. Ideal for Lorem Ipsum Date modified: 2017-09-28"

M&A brokers and advisors are typically paid a commission (success fee), often calculated as a percentage of the enterprise value of the target business. Depending on the size of the transaction and the scope of services being provided, they may also charge a retainer or work fee.

It’s important to research potential advisors and brokers carefully and evaluate their track record, experience, and reputation before engaging their services. If you’re looking to sell your business, you should specifically ask the broker/advisor about their approach to finding potential buyers.

Ideally, your advisor will already have knowledge of the companies or financial buyers in your industry and will take a proactive approach to finding a buyer as opposed to just listing the opportunity on their website and passively waiting for buyers to find it.

Additional resources

• Beyond Exporting: Building or Buying International Operations | EDC
• 3 tips to expand or acquire internationally | EDC
• Your acquisition roadmap: 4 key steps in buying a business | BDC
• The steps you need to take before buying a business | BDC
• Building a team of advisors when buying a business | BDC
• Be Bold Yet Purposeful in M&A Strategy | Gartner

"

The supply chain impacts of the pandemic have many companies revisiting their supply chain management, including how to best serve the needs of their clients.  A key consideration for many organizations is their ability to quickly fill customer orders and avoid costly shipping delays, or worse, having orders cancelled due to logistical issues.

While delays vary from industry to industry, here are some key considerations for exporters:

• Customs delays: Labour shortages at both the exporter’s operations and international ports could contribute to customs delays. For exporters, new and/or inexperienced staff could risk making administrative errors in providing the requisite information for international shipments.  Similarly, potentially lower levels of staffing at customs offices risk creating processing delays, regardless of the quality of the export documentation presented.
• Shipping delays and cost: At periods during the pandemic, availability of ocean freight containers was seriously constrained, and by consequence, prices increased dramatically. In situations where timely delivery is critical, or where express shipment (i.e. air freight) is cost prohibitive, having overseas inventory reduces the risk of not fulfilling your commercial contracts. **Note: **There could be tax consequences when having inventory abroad. You should consult a tax expert to ensure tax compliance with foreign governments.
• Bank borrowing: Having inventory consumes working capital resources, and inventory overseas is potentially more resource draining. This is because most financial institutions won’t margin inventory located outside of Canada, effectively removing this inventory from borrowing base calculations, doubling the impact on working capital—not only has money been invested in the production of the inventory, but it can’t be leveraged to borrow.

If this is a concern for Canadian exporters, Export Development Canada (EDC) can potentially help in partnership with your financial institution by leveraging one of our loan guarantee solutions such as our Export Guarantee Program.

Ultimately, keeping inventory close to your customers is a business decision that can be well worth the extra effort, but it’s important to not only run the numbers, but also weigh the pros and cons particular to your company.

Additional resources

• International warehouses: Tips for global commerce (2022) | Shopify
• Inventory basics for your global supply chain management | TradeReady
• EDC solutions | EDC

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Many countries have a monetary threshold for imported goods called de minimis, where shipments under that amount aren’t subject to duties and/or taxes. The threshold amount can vary widely between countries and can have different thresholds for the application of duty versus the application of taxes.

• Avalara has a list of the de minimis thresholds by country, including European Union (EU) countries. But it’s important that you check the websites of the government customs departments in your target markets to verify that this information is current.
• Remember: Every country within the EU may have different de minimis thresholds set forth by the governing customs agency.
• You can learn more about de minimis from Canada Post’s blog, International shipping: Your guide to customs, duties and selling worldwide

"

​To start your search for grants and funding programs, the Business Benefits Finder from the Canadian government is a great online tool. Answer a few questions about your business and the type of financial support you’re looking for to filter for programs of interest.

If you prefer to search on your smartphone, download the Canada Business App from the App Store or Google Play.

• From the creators of the Business Benefits Finder, this app is also a navigational tool designed to help you find grants and funding programs.
• It includes additional resources such as information on how to protect intellectual property and access permits or licences.

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DOING BUSINESS IN MEXICO March 2023 EDC’S GUIDE 2EDC | Guide to doing business in Mexico | March 2023 CONTENTS 1. CANADA IN MEXICO: TIES THAT BIND 3 2. PRIORITY SECTORS FOR CANADIAN EXPORTERS AND INVESTORS 5 2.1 Energy 6 2.2 Advanced technologies and advanced manufacturing 6 2.3 Infrastructure 9 2.4 Retail 10 2.5 Selling to government 10 3. INVESTING IN MEXICO 12 3.1 Mexico’s investment climate 13 3.2 Changes to investment restrictions 13 3.3 Reserved sectors 14 3.4 Investment incentives 15 3.5 Foreign trade zones 16 3.6 Labour 16 3.7 Social unrest 16 4. ESTABLISHING YOUR PRESENCE IN MEXICO 17 4.1 Obtain the authorization of using the company name online 18 4.2 Obtain a Tax Registry Number (RFC) with the tax authorities (Sistema de Administración Tributaria - SAT) 18 4.3 Register with the local tax authorities 18 4.4 Standardized companies and its legal forms 19 5. FINANCES, TAXES AND GETTING PAID 20 5.1 Financial reforms 21 5.2 The banking system 21 5.3 Paying taxes 22 5.4 Getting paid 22 6. DISPUTE SETTLEMENT 23 7. CUSTOMS AND DOCUMENTATION 25 7.1 Using customs brokers 26 7.2 Documentation 26 7.3 Import regimes 27 8. SOLUTIONS FROM EDC 28 8.1 Managing risks 29 8.2 Securing financing 30 8.3 Growing working capital 31 9. CONTACTING EDC 32 1CANADA IN MEXICO: TIES THAT BIND EDC | Guide to doing business in Mexico | March 2023 3 4EDC | Guide to doing business in Mexico | March 2023 Canada and Mexico are strategic, North American partners with strong economic, political, and social ties. For more than 75 years, Canada and Mexico’s relationship has been characterized by development of cultural connections, growing trade and investment. Since the signing of the North American Free Trade Agreement (NAFTA) in 1994, bilateral trade between our two countries has grown almost tenfold, reaching approximately C$44 billion in 2019. In 2013, Mexico introduced major reforms with the goal of increasing competitiveness and economic growth under the administration of Enrique Peña Nieto (2012-2018). Today, Mexico is one of the largest global economies (15th), based on the size of its gross domestic product (GDP). In addition, Mexico’s favourable labour demographics, growing consumer class of about 130 million people and well-educated, skilled labour force, offers Canadian businesses a wealth of opportunities. Considered to have one of the most open economies worldwide, Canadian investors and exporters can gain imme- diate access to 50 markets given the 14 free trade agreements (FTAs) Mexico has signed. On July 1, 2020, the new Canada-United States-Mexico Agreement (CUSMA) came into force, the world’s largest trade bloc with a combined population of 495 million and total GDP of nearly US$25.1 trillion. The successor to NAFTA, the new trade deal seeks to further strengthen the already strong trilateral trading relationship and to increase support to Canadian firms that are looking to diversify their international sales. Mexico is Canada’s sixth-largest trading partner globally and in 2021 bilateral trade reached an impressive C$32.5 billion (Mexican exports to Canada) and C$7.8 billion (Canadian exports to Mexico). Meanwhile, Canadian direct investment in Mexico reached C$25 billion in 2021, making it Canada’s ninth-largest direct investment destination globally. Although smaller, Mexican investment into Canada was C$2.7 billion in the same year. But doing business in Mexico isn’t without its challenges, including the issues of security and corruption. On the former, you need to understand that the dynamics are considerably different than in Canada. Security costs, in terms of your premises and personnel, will be higher and require a deeper level of due diligence. Corruption is one of the top challenges for businesses. But on a more positive note, there have been marked improvements since the inception of NAFTA, and they’re expected to continuing under CUSMA. Regardless, be vigilant—as you should be when brokering deals anywhere, including Canada because no jurisdiction is immune to business threats. 1. CANADA IN MEXICO: TIES THAT BIND https://www.international.gc.ca/trade-commerce/trade-agreements-accords-commerciaux/agr-acc/cusma-aceum/text-texte/toc-tdm.aspx?lang=eng 2PRIORITY SECTORS FOR CANADIAN EXPORTERS AND INVESTORS EDC | Guide to doing business in Mexico | March 2023 5 6EDC | Guide to doing business in Mexico | March 2023 2.1 ENERGY Mexico has been recognized as one of the largest oil producers in the world and is trying to ramp up production of natural gas by incenting further participation of the private sector after the 2013 Energy Reform. However, under the present administration of President Andres Manuel López Obrador (AMLO), elected in December 2018, Mexico has adopted a more statist approach to the energy sector, increasing the budget of Petroleos Mexicanos (PEMEX), Mexico’s state-owned oil company, with the goal of bringing crude production to 2.6 mn bl/d (millions of barrels per day) by 2024. The energy sector is considered one of the most relevant drivers of economic growth for the Mexican economy. In early 2020, the Mexican government announced an ambitious five-year C$99-billion investment plan (2020-2024) for the energy sector encompassing 275 energy projects in power generation, storage and transportation, as well as explora- tion and production (E&P) of natural gas. Consequently, EDC considers that the key opportunities for Canadian companies in the oil and gas (O&G) sector can be found with private E&P companies, which have won contracts with PEMEX and that require innovative technologies focusing on cost reduction, service equipment and training for environmentally-friendly production and safety aiming to improve efficiencies and minimize the environmental footprint of their operations. In terms of electricity, although the energy reform enabled private energy companies to compete in power generation, the state power utility Federal Electricity Commission (CFE) is expected to play a more significant role in the years to come, as the AMLO administration seeks to consolidate power generation in the hands of the Mexican state. 2.2 ADVANCED TECHNOLOGIES AND ADVANCED MANUFACTURING Over the past decade, Mexico’s appetite for advanced technologies in different fields and applications has seen a significant growth. There’s a strong potential in communi- cation (telecom) services, information and technology services and enterprise software, semiconductors and electro mobility. Furthermore, applications for the digitalization of businesses, blockchain, Internet of Things (IoT), artificial intelligence (AI), cybersecu- rity, and fintech (financial technologies) have also seen a significant market uptake and offer interesting opportunities for Canadian exporters. The development of Mexico’s information and communication technology (ICT) industry is being driven by the mobile telephony, broadband and broadcasting sectors, mostly pushed by the government and private companies’ interest in developing and expanding their use of cloud-based solutions, ICT services and enterprise software. As a regional power and home to some of the most important ICT firms, such as America Movil, AT&T Mexico and Axtel-Alestra, Mexico is also a gateway to other key markets in Latin America. As such, Mexico can provide a base for Canadian ICT firms that want to open new markets in the Caribbean and Central and South America. Thanks to Export Development Canada’s (EDC) Business Connection Program, we main- tain close relationships with leading Mexican companies in various industries interested in working with Canadian expertise and innovation. As such, the most relevant sectors of opportunity for Canadian exporters and service providers in Mexico are: energy, advanced technology and advanced manufacturing, automotive, mining, aerospace, forestry, infrastructure and retail. 2. PRIORITY SECTORS FOR CANADIAN EXPORTERS AND INVESTORS https://www.edc.ca/en/country-info/connections/connect-with-global-companies.html https://www.edc.ca/en/country-info/connections/connect-with-global-companies.html 7EDC | Guide to doing business in Mexico | March 2023 Light manufacturing The Mexican market is ideal for assembly operations due to its competitive cost savings, existing industry clusters, strategic geographical location, quality of its workforce and ease of entry. Mexico’s light manufacturing industry plays a crucial role for its contri- bution to the country’s economic development, as well as the production of consumer goods and the extensive capital value chains. Consequently, the light manufacturing (LTM) sector has been looking to improve the use of technologies aiming to keep its appeal for international investors. Some of the products and services that have seen the biggest demand in recent years: • medical devices • biotechnology • quality control suppliers • testing and related secondary services • plastics • environmental technologies such as water resources equipment • solid waste management • recycling • soil remediation • air monitoring • medical waste management • environmental engineering • security and safety devices like closed- circuit television (CCTV) systems • semiconductors 2. PRIORITY SECTORS FOR CANADIAN EXPORTERS AND INVESTORS Mexico is also a gateway to other key markets in Latin America. As such, Mexico can provide a base for Canadian ICT firms that want to open new markets in the Caribbean and Central and South America. 8EDC | Guide to doing business in Mexico | March 2023 Automotive The automotive sector in Mexico is globally recognized for its outstanding capacity to manufacture passenger vehicles, heavy and specialized vehicles and automotive parts."

Let’s get started Answer a few quick questions to help us get to know your company. Tell us about your business needs. I need access to financing. I need to protect my sales from the risk of non-payment. I need information or advice about exporting. What was your company’s total revenue last year? This info helps us make recommendations for your business. Less than $2 million Between $2 million and $10 million More than $10 million Does your company export now? Yes, we currently sell goods or services outside of Canada, or we plan to start exporting soon. Indirectly. We sell to a Canadian company that uses our goods or services in their export supply chain or resells them internationally. No, we don’t sell products and services outside Canada and have no plans to start exporting. Cancel Continue"

Unlock more working capital and expand beyond Canada’s borders with confidence The Trade Expansion Lending Program (TELP) is an EDC guarantee that helps you access more working capital from your financial institution. EDC shares the risk with your lender by guaranteeing part of your loan or line of credit, allowing them to offer the credit conditions you need to grow. Enter new markets faster Streamline cash flow Grow your business Is TELP right for your business? TELP is typically the fastest and easiest way for EDC to help increase your access to working capital. With an EDC guarantee like TELP in place, your financial institution can offer you a larger loan or line of credit. Enter new markets faster by covering initial expenses and meeting projected demand. Take on new contracts confidently with more effective cash flow management. Invest in machinery, equipment and other resources for international operations. Growing your business but struggling with cash flow? Learn how to get the best financing options from your lender with our free guide. How to get started EDC works with many Canadian financial institutions to deliver TELP. Step 1 1 Talk to your financial institution Ask your lender if TELP is a good fit for your financing needs. If your financial institution doesn’t offer TELP, they can still work with EDC to find other ways to support your growth. Step 2 2 Work with your financial institution to complete the application TELP is delivered by approved financial institutions, making it easier to apply and faster to process. Step 3 3 Grow your business Once your application is approved, you can access your funds through your financial institution. Frequently asked questions How can TELP help my business grow? TELP allows you to access more working capital, enabling you to take on larger projects, enter new markets and invest in your company’s growth without the stress of cash flow issues. You can use your additional capital to: Fund your operations Take on new contracts Expand production capacity (with a CapEx loan) Pursue other opportunities to grow your business internationally How long does the TELP application process take? The TELP application is designed to be straightforward, but processing time can vary depending on your financial institution. It’s best to check with them for specific timelines. What if my financial institution doesn’t offer TELP? If your financial institution doesn’t offer TELP, they can still work with EDC or one of our partners to find other ways to support your growth. Ask your financial institution to call EDC at 1-800-229-0575 to discuss how we can work together to meet your business needs. Have a question about TELP? We’re here to help. Please fill out the form below or call us at 1-800-229-0575 Contact EDC Date modified: 2025-08-09"

Government agencies can be great sources of support. Almost all industrialized countries have governmental agencies at the federal and provincial level to attract new companies to their region. Some useful agencies include:

• Export Development Canada (EDC)
• Global Affairs Canada (GAC), including the Trade Commissioner Service (TCS)
• The Chamber of Commerce of the country where you’re exporting your goods and services.

There are private consultant firms that exist solely to help your company expand into a new markets. They offer a range of services—from simple introductions to prospective partners or clients to full execution of the expansion plan. They can be a useful resource when entering a new market, but they charge for their services.

Outsourcing your sales function can be another strategic and advantageous method of growing in a new market. Outsourcing sales can:

• Shorten the sales cycle
• Provide existing relationships with potential prospects
• Reduce startup payroll costs (although sales commissions will be higher)

Market intelligence can help speed the path to entry. Investing in market intelligence can help you understand factors, like market size, competition, market preferences and more. It’s important to ensure that you do your own due diligence before entering into a new market.

For more information about market accelerants, in conjunction with our partners at MaRS, we’ve co-created great resources that can help you speed up your market entry and boost your chance of success. You can access them through our International Growth Collection.

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The Canada Digital Adoption Program (CDAP) helps online businesses boost their e-commerce presence to further digitalize their operations through the Grow Your Business Online micro-grant.

• Grow Your Business Online, by Innovation, Science and Economic Development Canada (ISED), offers support to Canadian small- and medium-sized enterprises (SMEs) that want to adopt new digital technologies.
• Eligible businesses will receive a micro-grant of up to $2,400 to help with the costs related to adopting digital technologies. Grants will be available through local and regional service providers across Canada.

​Additional resources

• Business Benefits Finder | Innovation Canada (ISED) 

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There are several programs available for companies in Quebec:

• Invest Quebec has a program called Innovative Manufacturer that supports Quebec companies by financing the implementation costs for a project designed to raise the business’s level of innovation. For more information, contact 1-844-474-6367.
• Industrial Research Assistance Program (IRAP): This National Research Council Canada program provides advice, connections and funding to help Canadian businesses increase their innovation capacity and take their products to market.
• Innovation Canada: Answer a series of questions to filter through available programs based on your needs, location and industry sector. Get one-on-one guidance about funding programs from an innovation advisor by calling 1-855-534-8433.
• R&D and innovation: This Government of Canada link offers information on funding, collaboration, commercialization and licensing resources to help fuel innovation.
• Scientific Research and Experimental Development Tax Incentive Program (SR&ED): This program provides tax incentives to encourage Canadian businesses of all sizes and in all sectors to conduct research and development in Canada. Use their self-assessment and learning tool to understand the eligibility requirements.

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Prairies Economic Development Canada (PrairiesCan) is the department that diversifies the economy across the Canadian Prairies. It leads in building a strong, competitive Canadian economy by supporting business, innovation, and community economic development unique to Alberta, Saskatchewan and Manitoba.

Get business support (advice, resources, training, capital, mentoring, networking) to grow your business and your community’s economy.

Available funding programs

• Business Scale-up and Productivity (BSP)provides funding for small- and medium-sized enterprises (SMEs) to help them scale up and produce innovative goods, services or technologies.
• Regional Innovation Ecosystems (RIE)support not-for-profit organizations that support businesses at each stage of development.
• Economic Development Initiative (EDI)offers financial support for Francophone small businesses, partnerships and economic development projects in the Prairie provinces.
• Community Economic Development and Diversification (CEDD)provides funding for not-for-profit organizations for projects that support business development and community economic growth.
• Strategic Partnerships Initiative (SPI)supports Indigenous economic growth from 14 federal departments, overseen by Indigenous and Northern Affairs Canada.
• Strategic Innovation Fund (SIF)supports large innovation projects to make Canada a top destination for businesses to invest, grow and create jobs.

Additional resources

• The Business Benefits Finderis an online search tool by the Canadian government that allows companies to search for grants and funding programs. Answer a few questions to filter for programs of interest.You can also get one-on-one guidance on any other programs that might be a fit for your company by contacting an innovation adviser at 1-833-201-4358.

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1 EXPORT DEVELOPMENT CANADA ANNUAL REPORT ON THE ADMINISTRATION OF THE PRIVACY ACT APRIL 1, 2018 – MARCH 31, 2019 2 EXPORT DEVELOPMENT CANADA ANNUAL REPORT ON THE ADMINISTRATION OF THE PRIVACY ACT April 1, 2018 to March 31, 2019 INTRODUCTION AND MANDATE Export Development Canada (“EDC”) was established on October 1, 1969 (as Export Development Corporation) by the Export Development Act (the “EDA”). EDC is an agent of Her Majesty in Right of Canada and a Crown Corporation whose shares may be owned only by Canada. EDC is accountable for its affairs to Parliament through the Minister of International Trade. Its mandate is to support and develop, directly or indirectly, Canada’s export trade and Canadian capacity to engage in that trade as well as respond to international business opportunities. EDC’s mandate was amended in June 2017 to give an additional purpose of providing, directly or indirectly, development financing and other forms of development support in a manner that is consistent with Canada’s international development opportunities. Regulations enacted under the EDA clarify circumstances under which EDC may exercise certain powers. EDC provides trade financing, export credit insurance and bonding services, as well as foreign market expertise. EDC incorporated Development Finance Institute Canada (DFIC) Inc. (“FinDev Canada”) as a wholly owned subsidiary in September 2017. The report on FinDev Canada’s administration of the Privacy Act (the “Act”) for the period of April 1, 2018 to March 31, 2019 is tabled separately. EDC also incorporated Exinvest Inc. as a wholly owned subsidiary in 1995. The report on Exinvest’s administration of the Act for the period April 1, 2018 to March 31, 2019 is tabled separately. The Act is a federal statute that prescribes how certain federal government institutions such as EDC must protect the privacy of individuals with respect to the collection, use and disclosure of personal information. Furthermore, the legislation provides individuals with the right of access to and correction of personal information about themselves held by these same institutions. EDC’s financial year aligns with the calendar year. In accordance with Treasury Board Secretariat (“TBS”) requirements, all government institutions subject to the Act must report on an April 1 to March 31 reporting cycle irrespective of their specific financial year. This report is tabled in Parliament and prepared in accordance with section 72 of the Act. 3 THE PRIVACY AND ACCESS TO INFORMATION TEAM The Privacy and Access to Information (“Privacy & ATI “) Team is part of the Compliance & Ethics Group. The Privacy & ATI Team administers the Act for EDC and is responsible for responding to all requests submitted to EDC under the Act. During the 2018-2019 reporting period, the Privacy & ATI Team was comprised of six (6) full-time employees: the Manager, Privacy & ATI; and five (5) Privacy & ATI Advisors. The Privacy & ATI Team reports to the Director, Compliance & Ethics who reports to the Vice-President and Chief Compliance & Ethics Officer. The Senior Vice-President and Chief Risk Officer, Enterprise Risk Management is the senior executive responsible for Privacy & ATI. Within Compliance & Ethics, the Privacy & ATI Team is responsible for the development, coordination and implementation of effective policies and processes to manage EDC’s compliance with the Act. The Manager, Privacy & ATI acts as the point of contact for the Corporation in dealings with TBS, the Privacy Commissioner, and other government institutions on privacy matters. Business Liaison Officers (“BLO”s) have been designated across the Corporation to coordinate team-specific access to information activities related to the processing of requests and provide guidance to colleagues on the administrative processes related to the Act. DELEGATION OF AUTHORITY The President and Chief Executive Officer (“President & CEO”) of EDC is designated as the head of the institution for the purposes of the Act. Pursuant to section 73 of the Act, the President & CEO’s authority has been delegated to enable the Corporation in meeting its legislated requirements. Most of the President & CEO’s powers and duties have been delegated to: the Senior Vice-President and Chief Risk Officer, Enterprise Risk Management; the Vice-President and Chief Compliance & Ethics Officer; the Director, Compliance & Ethics; and the Manager, Privacy & ATI. As requested by TBS, a copy of the delegation order is appended hereto as Appendix R. 4 STATISTICAL REPORTS As requested by TBS, the appended Statistical Reports cover a twelve-month period from April 1, 2018 to March 31, 2019. The following are highlights of the Statistical Reports appended hereto:  EDC received one (1) new privacy request.  All requests were completed within the statutory timeframes provided by the Act.  No requests were carried over from the previous reporting period.  The appended Statistical Report provide information related to the types of exemptions applied to the completed requests. The number of requests received continues to be low and this is consistent with previous reporting periods. The chart below shows the trends for the past three (3) reporting periods. TRAINING AND AWARENESS PROGRAM EDC recognizes that privacy protection is an essential element in maintaining public and employee trust in EDC. Privacy awareness training is an effective tool through which EDC can mitigate the risk of privacy breaches through the management of personal information. During the reporting period, the Privacy & ATI Team continued to promote awareness of the Corporation’s obligations under the Act through a variety of training approaches in both official languages. 5 Orientation Training The Privacy & ATI Team presented at all Employee Orientation Training sessions held for new EDC employees. During the reporting period, twelve (12) orientation sessions were held and a total of three hundred and fifty-seven (357) employees received awareness training regarding EDC’s obligations under the Act. Privacy & ATI Website EDC’s internal Privacy & ATI Website is accessed through livewire, EDC’s Employee Intranet. The internal Privacy & ATI Website includes Frequently Asked Questions as well as links to related Corporate Policies, the Privacy & ATI Service Request Form, EDC’s Info Source page and privacy e-Modules. INSTITUTION-SPECIFIC POLICIES, GUIDELINES AND PROCEDURES During the reporting period, EDC updated its Privacy Policy in order to, among other things, refer to statutory obligations set out in global privacy laws to which EDC is subject due to its international business practices. Several guidelines and procedures complement the policy to provide guidance to employees and ensure consistent practices are followed. EDC also has the following policies, guidelines and processes which refer, directly or indirectly, to employees’ obligations under the Act:  EDC Code of Conduct;  Confidential Information Breach Procedure;  EDC Wrongdoings Policy;  Privacy Guidelines for Attendance and Leave;  Privacy Guidelines for Performance Management. CORPORATE INITIATIVES EDC Code of Conduct EDC is committed to upholding the highest standards of personal and professional conduct. As such, EDC requires all employees to complete an annual review and sign off on EDC’s Code of Conduct (the "Code"). The Code, together with the Values and Ethics Code for the Public Sector forms an integral part of EDC’s ethical framework. It sets out the values and behaviours EDC employees must exemplify in our capacity as employees of a Crown corporation. The Code covers EDC employees’ obligations to comply with laws and policies which help ensure effective and consistent administration and compliance with the Act and its regulations. COMPLAINTS AND INVESTIGATIONS 6 No complaints under the Act were received by EDC and subsequently no investigations were undertaken. MONITORING THE TIME TO PROCESS ACCESS TO INFORMATION REQUESTS EDC utilizes the Access Pro Suite by Privasoft Corporation to manage all requests received under the Act. The software has a dashboard functionality which allows the Manager, Privacy & ATI to actively monitor the status and time taken to process privacy requests and requests for the correction of personal information. PRIVACY BREACHES During the reporting period EDC experienced no material privacy breaches. ASSESSING PRIVACY IMPACT A Privacy Impact Assessment (“PIA”) is a formal tool used to identify and mitigate privacy risks for new or modified programs, services or initiatives in an effort to heighten compliance with the Act. No PIA’s were completed or forwarded to the Office of the Privacy Commissioner during the reporting period. Mindful of the TBS PIA Directive dated April 1, 2010, and in an effort to move towards a more proactive privacy risk framework, throughout the reporting period, the Privacy & ATI Team continued to use an electronic Service Request Form. The Service Request Form assisted the Privacy & ATI Team with the effective management of an increasing number of requests from internal EDC teams seeking assistance with privacy-related matters. It also facilitated responses to questions about new and ongoing EDC projects that may involve the collection, use and disclosure of personal information as well as questions about the legislation. DISCLOSURES UNDER SECTION 8(2) OF THE ACT (DISCLOSURE OF PERSONAL INFORMATION WITHOUT CONSENT) Subsection 8(2) of the Act provides limited and specific circumstances under which"

1 EXPORT DEVELOPMENT CANADA ANNUAL REPORT ON THE ADMINISTRATION OF THE ACCESS TO INFORMATION ACT APRIL 1, 2018 – MARCH 31, 2019 2 EXPORT DEVELOPMENT CANADA ANNUAL REPORT ON THE ADMINISTRATION OF THE ACCESS TO INFORMATION ACT April 1, 2018 to March 31, 2019 INTRODUCTION AND MANDATE Export Development Canada (“EDC”) was established on October 1, 1969 (as Export Development Corporation) by the Export Development Act (the “EDA”). EDC is an agent of Her Majesty in Right of Canada and a Crown Corporation whose shares may be owned only by Canada. EDC is accountable for its affairs to Parliament through the Minister of International Trade. Its mandate is to support and develop, directly or indirectly, Canada’s export trade and Canadian capacity to engage in that trade as well as respond to international business opportunities. EDC’s mandate was amended in June 2017 to give an additional purpose of providing, directly or indirectly, development financing and other forms of development support in a manner that is consistent with Canada’s international development opportunities. Regulations enacted under the EDA clarify circumstances under which EDC may exercise certain powers. EDC provides trade financing, export credit insurance and bonding services, as well as foreign market expertise. EDC incorporated Development Finance Institute Canada (DFIC) Inc. (“FinDev Canada”) as a wholly owned subsidiary in September 2017. The report on FinDev Canada’s administration of the Access to Information Act (the “Act”) for the period of April 1, 2018 to March 31, 2019 is tabled separately. EDC also incorporated Exinvest Inc. as a wholly owned subsidiary in 1995. The report on Exinvest’s administration of the Act for the period April 1, 2018 to March 31, 2019 is tabled separately. The Act is a federal statute that provides a right of access to records under the control of certain federal government institutions, such as EDC, to Canadian citizens, permanent residents, as well as individuals and corporations located in Canada. EDC became subject to the Act on September 1, 2007. EDC’s financial year aligns with the calendar year. In accordance with Treasury Board Secretariat (“TBS”) requirements, all government institutions subject to the Act must report on an April 1 to March 31 reporting cycle irrespective of their specific financial year. This report is tabled in Parliament and prepared in accordance with section 72 of the Act. 3 THE PRIVACY AND ACCESS TO INFORMATION TEAM The Privacy & Access to Information (“Privacy & ATI”) Team is part of the Compliance & Ethics Group. The Privacy and ATI Team administers the Act for EDC and is responsible for responding to all requests submitted to EDC under the Act. During the 2018-2019 reporting period, the Privacy & ATI Team was comprised of six (6) full-time employees: the Manager, Privacy & ATI; and five (5) Privacy & ATI Advisors. The Privacy & ATI Team reports to the Director, Compliance & Ethics who reports to the Vice-President and Chief Compliance & Ethics Officer. The Senior Vice-President and Chief Risk Officer, Enterprise Risk Management is the senior executive responsible for Privacy & ATI. Within Compliance & Ethics, the Privacy & ATI Team is responsible for the development, coordination and implementation of effective policies and processes to manage EDC’s compliance with the Act. The Manager, Privacy & ATI acts as the point of contact for the Corporation in dealings with TBS, the Information Commissioner, and other government institutions on access to information matters. Business Liaison Officers (“BLO”s) have been designated across the Corporation to coordinate team-specific access to information activities related to the processing of requests and provide guidance to colleagues on the administrative processes related to the Act. DELEGATION OF AUTHORITY The President and Chief Executive Officer (“President & CEO”) of EDC is designated as the head of the institution for the purposes of the Act. Pursuant to section 73 of the Act, the President & CEO’s authority has been delegated to enable the Corporation meeting its legislated requirements. Most of the President & CEO’s powers and duties have been delegated to: the Senior Vice-President and Chief Risk Officer, Enterprise Risk Management; the Vice-President and Chief Compliance & Ethics Officer; the Director, Compliance & Ethics; and the Manager, Privacy & ATI. As requested by TBS, a copy of the delegation order is appended hereto as Appendix Q. 4 STATISTICAL REPORTS Requests As requested by TBS, the appended Statistical Reports cover a twelve-month period from April 1, 2018 to March 31, 2019. The following are highlights of the Statistical Reports appended hereto:  EDC received thirty five (35) new requests for information under the Act.  Three (3) requests were carried over from the current reporting period to be completed during the next reporting period.  Thirteen (13) requests required an extension under section 9(1)(a) and 9(1)(b) of the Act due to consultation with another government department and high volume of records.  The appended Statistical Report provides information related to the types of exemptions applied to the completed requests. EDC experienced an increase in the number of requests for information received under the Act during the reporting period. The chart below shows the trends for the past three (3) reporting periods. Consultations EDC must also respond to consultations pursuant to the Act from other government institutions in order to provide those institutions with recommendations regarding the release of information related to EDC. From April 1, 2018 to March 31, 2019, twenty-five (25) consultations were received from government institutions including: Global Affairs Canada; Department of Finance Canada; and Privy Council Office. 5 Informal Requests During the reporting period, EDC responded to thirteen (13) informal requests, outside of the formal process under the Act. TRAINING AND AWARENESS PROGRAM During the reporting period, the Privacy & ATI Team continued to promote awareness of the Corporation’s obligations under the Act through a variety of training approaches provided in both official languages. Orientation Training The Privacy & ATI Team presented at all Employee Orientation Training sessions held for new EDC employees. During the reporting period, twelve (12) orientation sessions were held and a total of three hundred and fifty-seven (357) employees received awareness training regarding EDC’s obligations under the Act. Privacy & ATI Website EDC’s internal Privacy & ATI Website is accessed through livewire, EDC’s Employee Intranet. The internal Privacy & ATI Website includes Frequently Asked Questions as well as links to related Corporate Policies, the Privacy & ATI Service Request Form, EDC’s Info Source page, privacy e-Modules and the ATI Online Tutorial. Business Liaison Officer (BLO) Training Based on the number of requests EDC receives annually, the Business Liaison Officer (BLO) training model consists of customized, 1:1 or small group training and guidance at the time a request is received. This customized approach supports EDC’s legislative duty to assist requesters: by ensuring the BLO understands their obligations and deadlines; through immediate identification of any ambiguity within the request text requiring clarification with the requester; and by facilitating a collaborative approach between teams with regard to record retrieval with the intention of improving efficiencies and minimizing duplicate records. 6 INSTITUTION-SPECIFIC POLICIES, GUIDELINES AND PROCEDURES During the reporting period, EDC’s Access to Information Policy was rescinded and replaced by the:  Access to Information Standard which establishes the roles and responsibilities and the delegated authority in connection with requests under the Act; and  Access to Information Procedure which provides guidance and instructions to EDC Employees upon receipt of a request under the Act. Additional guidance on the Act has also been included in EDC’s Governance Guideline under the Corporations new Information Management Policy. EDC has also established the following policies, guidelines and procedures which refer, directly or indirectly, to employees’ obligations under the Act:  EDC Wrongdoings Policy;  EDC Code of Conduct;  BLO Checklist – Responding to Access to Information Requests; and  BLO Checklist – Responding to Consultation Requests (from other Government institutions). CORPORATE INITIATIVES EDC Code of Conduct EDC is committed to upholding the highest standards of personal and professional conduct. As such, EDC requires all employees to complete an annual review and sign off on EDC’s Code of Conduct (the "Code"). The Code, together with the Values and Ethics Code for the Public Sector forms an integral part of EDC’s ethical framework. It sets out the values and behaviours EDC employees must exemplify in our capacity as employees of a Crown corporation. The Code covers EDC employees’ obligations to comply with laws and policies which help ensure effective and consistent administration and compliance with the Act and its regulations. COMPLAINTS AND INVESTIGATIONS During the reporting period, EDC received four (4) new complaints under the Act. The Office of the Information Commissioner of Canada (“OIC”) completed an investigation into one (1) of these complaints and a final decision will be forthcoming. The remaining three (3) complaints received during this reporting period have not yet been assigned an"

multilaterally agreed and comprehensive code of responsible business conduct that governments have committed to promoting. Policy A document which sets out the principles or protocols to guide decisions and achieve expected outcomes. Policies are derived from EDC’s mandate, missions, strategic objectives and Risk Appetite. Policy Approver The authority responsible for approving the Policy (i.e. Board of Directors, President & CEO, Chief Business Officer or Senior Vice- President). Policy Monitor The authority responsible for monitoring, ensuring and attesting to compliance with the Policy, and also responsible for reporting instances of non-compliance to the Policy Owner (if Policy Monitor is different from the Policy Owner). Policy of Policies A Policy to control the interrelationship, make-up, development, revision and rescinding of other Policies, Guidelines (or Standards) and Procedures and associated Frameworks. Policy Owner The senior Executive responsible for the matters addressed by the Policy. This includes responsibility for ensuring the Policy’s development, implementation and maintenance. Portfolio A set of programs, projects or products managed as a group to achieve business and corporate strategic objectives. Procedures Step-by-step instructions (including process maps where available and job aids) to complete a task to implement Policies and Guidelines (or Standards). These documents should describe a series of actions on how to perform an activity to achieve expected outcomes. Relationship and Transaction Committee (RTC) A Vice-President level management and working group that is responsible for providing guidance and direction to virtual teams on proposed business solutions, strategic account direction as well as approval of onboarding and escalated non-credit issues. Risk Appetite The degree and types of risk EDC is prepared to accept in pursuit of its objectives. Risk Management Committee An Executive-level committee that is responsible for reviewing and recommending transactions for Board approval, reviewing and overseeing the management of enterprise governance, risk and control activities, and understanding significant existing and emerging risks and their impact on EDC’s risk profile. EDC | Environmental and Social Risk Management Policy Page | 13 Risk Management Office The team that is responsible for optimizing EDC’s capacity and appetite for assuming risk in support of customers consistent with EDC’s business plans and objectives. Standards Requirements that are mandatory, prescriptive and intended to be binding on EDC’s employees. Value Chain Includes every step a business takes to produce a product or service and deliver it to the customer from its conception to its end use and beyond. This includes activities such as research and design, production, marketing, distribution and support to the final consumer. EDC | Environmental and Social Risk Management Policy Page | 14 AUTHORITY SIGNATURES Approved by: Martine Irman, Chair - Board of Directors 13/10/2022 Recommended by: Rahul Chandran, Vice-President, ESG Policy 26/09/2022 CONTROL SHEET Policy Name: Environmental and Social Risk Management Policy Policy Owner: Chief Corporate Sustainability Officer and Senior Vice-President, Sustainable Business & Enablement Policy Monitor: Vice-President, ESG Policy Version: 4.0 Recommended by: Rahul Chandran, Vice-President, ESG Policy Endorsed by (if applicable): N/A Approved by: Board of Directors Approval date: October 13, 2022 Effective date (of this version): October 13, 2022 Inaugural effective date: June 27, 2005 Next Review Date: October 13, 2025 EDC | Environmental and Social Risk Management Policy Page | 15 REVISION HISTORY Version Approved / Reviewed / Revised / Rescinded Date Comments 1.0 Approved by the Board June 27, 2005 Inaugural 2.0 Approved by the Board November 1, 2010 Reviewed and revised as part of regular revision process 3.0 Approved by the Board February 28, 2019 Reviewed and revised as part of regular revision process 4.0 Approved by the Board October 13, 2022 Revised as part of Environmental and Social Risk Management (ESRM) Policy Framework Review"

1 EXPORT DEVELOPMENT CANADA ANNUAL REPORT ON THE ADMINISTRATION OF THE PRIVACY ACT April 1, 2017 to March 31, 2018 INTRODUCTION AND MANDATE Export Development Canada (“EDC”) was established on October 1, 1969 (as Export Development Corporation) by the Export Development Act (the “EDA”). EDC is an agent of Her Majesty in Right of Canada and a Crown Corporation whose shares may be owned only by Canada. EDC is accountable for its affairs to Parliament through the Minister of International Trade. Its mandate is to support and develop, directly or indirectly, Canada’s export trade and Canadian capacity to engage in that trade as well as respond to international business opportunities. EDC’s mandate was amended in June 2017 to give an additional purpose of providing, directly or indirectly, development financing and other forms of development support in a manner that is consistent with Canada’s international development opportunities. Regulations enacted under the EDA clarify circumstances under which EDC may exercise certain powers. EDC provides trade financing, export credit insurance and bonding services, as well as foreign market expertise. EDC incorporated Development Finance Institute Canada (DFIC) Inc. (“FinDev Canada”) as a wholly owned subsidiary in September 2017. The report on FinDev Canada’s administration of the Privacy Act (the “Act”) for the period September 14, 2017 to March 31, 2018 is tabled separately. EDC also incorporated Exinvest Inc. as a wholly owned subsidiary in 1995. The report on Exinvest’s administration of the Act for the period April 1, 2017 to March 31, 2018 is tabled separately. The Act is a federal statute that prescribes how certain federal government institutions such as EDC must protect the privacy of individuals with respect to the collection, use and disclosure of personal information. Furthermore, the legislation provides individuals with the right of access to and correction of personal information about themselves held by these same institutions. EDC’s financial year aligns with the calendar year. In accordance with Treasury Board Secretariat (“TBS”) requirements, all government institutions subject to the Act must report on an April 1 to March 31 reporting cycle irrespective of their specific financial year. This report is tabled in Parliament and prepared in accordance with section 72 of the Act. 2 THE PRIVACY AND ACCESS TO INFORMATION TEAM The Privacy and Access to Information (“Privacy & ATI “) Team is part of the Compliance & Ethics Group. The Privacy & ATI Team administers the Act for EDC and is responsible for responding to all requests submitted to EDC under the Act. During the 2017-2018 reporting period, the Privacy & ATI Team was comprised of three (3) full-time employees: the Manager, Privacy & ATI; and two (2) Privacy & ATI Advisors. The Privacy & ATI Team reports to the Director, Compliance & Ethics who reports to the Vice-President and Chief Compliance & Ethics Officer. The Senior Vice-President and Chief Risk Officer, Enterprise Risk Management is the senior executive responsible for Privacy and Access to Information. Within Compliance & Ethics, the Privacy & ATI Team is responsible for the development, coordination and implementation of effective policies and processes to manage EDC’s compliance with the Act. The Manager, Privacy & ATI acts as the point of contact for the Corporation in dealings with TBS, the Privacy Commissioner, and other government institutions on privacy matters. Business Liaison Officers (“BLO”s) have been designated across the Corporation to coordinate team-specific access to information activities related to the processing of requests and provide guidance to colleagues on the administrative processes related to the Act. DELEGATION OF AUTHORITY The President and Chief Executive Officer (“President & CEO”) of EDC is designated as the head of the institution for the purposes of the Act. Pursuant to section 73 of the Act, the President and CEO’s authority has been delegated to enable the Corporation in meeting its legislated requirements. The President & CEO has delegated most of his powers and duties to: the Senior Vice-President and Chief Risk Officer, Enterprise Risk Management; the Vice-President and Chief Compliance & Ethics Officer; the Director, Compliance & Ethics; and the Manager, Privacy & ATI. As requested by TBS, a copy of the delegation order is appended hereto as Appendix R. 3 STATISTICAL REPORTS As requested by TBS, the appended Statistical Reports cover a twelve-month period from April 1, 2017 to March 31, 2018. The following are highlights of the Statistical Reports appended hereto: • EDC received three (3) new privacy requests. • All requests were completed within the statutory timeframes provided by the Act. • No requests were carried over from the previous reporting period. • The appended Statistical Report provide information related to the types of exemptions applied to the completed requests. The number of requests received continues to be low and this is consistent with previous reporting periods. The chart below shows the trends for the past three (3) reporting periods. 0 1 2 3 4 5 2017-2018 2016-2017 2015-2016 No. of Requests TRAINING AND AWARENESS PROGRAM EDC recognizes that privacy protection is an essential element in maintaining public and employee trust in EDC. Privacy awareness training is an effective tool through which EDC can mitigate the risk of privacy breaches through the management of personal information. During the reporting period, the Privacy & ATI Team continued to promote awareness of the Corporation’s obligations under the Act through a variety of training approaches in both official languages. Orientation Training The Privacy & ATI Team presented at all Employee Orientation Training sessions held for new EDC employees. During the reporting period, nine (9) orientation sessions were held and four (4) customized training sessions were held for various business groups. A total of two hundred and thirty-five (235) employees received awareness training regarding EDC’s obligations under the Act. 4 Privacy & ATI Website EDC’s internal Privacy & ATI Website is accessed through livewire, EDC’s Employee Intranet. The internal Privacy & ATI Website includes Frequently Asked Questions as well as links to related Corporate Policies, the Privacy & ATI Service Request Form, EDC’s Info Source page and privacy e-Modules. INSTITUTION-SPECIFIC POLICIES, GUIDELINES AND PROCEDURES EDC did not implement any new policies, guidelines or procedures related to privacy during the reporting period. EDC has established the following policies, guidelines and processes related to the Act: • EDC Policy on Privacy Protection; • EDC Code of Conduct; • Confidential Information Breach Procedure; • EDC Wrongdoings Policy; • Privacy Guidelines for Attendance and Leave; and • Privacy Guidelines for Performance Management. CORPORATE INITIATIVES EDC Code of Conduct EDC is committed to upholding the highest standards of personal and professional conduct. As such, EDC requires all employees to complete an annual review and sign off on EDC’s Code of Conduct (the "Code"). EDC promotes the Code through various types of awareness communications to all employees, on a quarterly basis.The Code, together with the Values and Ethics Code for the Public Sector forms an integral part of EDC’s ethical framework. It sets out the values and behaviours EDC employees must exemplify in our capacity as employees of a Crown corporation. The Code includes EDC employee obligations under the Act, to help ensure effective and consistent administration and compliance with the Act and its regulations. COMPLAINTS AND INVESTIGATIONS No complaints under the Act were received by EDC and subsequently no investigations were undertaken. MONITORING THE TIME TO PROCESS ACCESS TO INFORMATION REQUESTS EDC utilizes the Access Pro Suite by Privasoft Corporation to manage all requests received under the Act. The software has a dashboard functionality which allows the Manager, Privacy & ATI to actively monitor the status and time taken to process privacy requests and requests for the correction of personal information. 5 PRIVACY BREACHES During the reporting period EDC experienced no material privacy breaches. ASSESSING PRIVACY IMPACT A Privacy Impact Assessment (“PIA”) is a formal tool used to identify and mitigate privacy risks for new or modified programs, services or initiatives in an effort to heighten compliance with the Act. No PIA’s were completed or forwarded to the Office of the Privacy Commissioner during the reporting period. Mindful of the TBS PIA Directive dated April 1, 2010, and in an effort to move towards a more proactive privacy risk framework, throughout the reporting period, the Privacy & ATI Team continued to use an electronic Service Request Form. The Service Request Form assisted the Privacy & ATI Team with the effective management of an increasing number of requests from internal EDC teams seeking assistance with privacy-related matters. It also facilitated responses to questions about new and ongoing EDC projects that may involve the collection, use and disclosure of personal information as well as questions about the legislation. DISCLOSURES UNDER SECTION 8(2) OF THE ACT (DISCLOSURE OF PERSONAL INFORMATION WITHOUT CONSENT) Subsection 8(2) of the Act provides limited and specific circumstances under which institutions may disclose personal information without an individual's consent. During the reporting period, EDC did not make any disclosures of personal information pursuant to subsection 8(2)(m) of the Act. to"

to cause noticeable shifts and create opportunities —and setbacks—for other nations. EDC | Exploring the impacts of the EU’s carbon border adjustment policy 8 POLICY COSTS AND BENEFITS Positive aspects of CBAs The largest benefit—and primary concern— of CBAs is the mitigation of carbon leakage from carbon-pricing nations (as noted in the background section). Additional benefits include increased revenue for governments of CBA regions, due to fees levied on CBA imports3. These revenues could allow countries to improve industrial competitiveness by lowering business taxes or incentivizing R&D partnerships— mitigating competitive disadvantages created by domestic climate policies. The EU hasn’t yet announced any such initiatives as they’re still determining how best to support domestic companies while remaining compliant with the World Trade Organization (WTO)7. These fiscal impacts could also incentivize foreign nations to implement their own carbon- pricing policies, allowing them to domestically capture revenues, while also reducing CBA fees on exports. If foreign nations already have a carbon-pricing policy in place, their products will now be more attractive to CBA importers, due to the reduced CBA fees. This will likely shift trade flows in favour of carbon-pricing nations. CBA policies may incentivize carbon-pricing nations to adopt more uniform carbon-pricing levels to optimize trade and simplify the border tax mechanisms—strengthening trade flows with CBA regions. EDC | Exploring the impacts of the EU’s carbon border adjustment policy 9 The beneficial incentives from CBAs also impact foreign producers. If foreign producers reduce the carbon embedded in their products, they’ll now face less markup when exporting to CBA regions and increased competitiveness3. An example of this would be steel made with hydrogen processes rather than traditional fossil fuel methods. These incentives compound as more nations adopt CBAs and more export markets are covered by their fees. Due to this, there’s the potential for CBAs to accelerate the implementation of climate policies around the world and speed up progress in combating global warming. Another major benefit from CBA policies is the potential competitive boost for domestic producers. With carbon prices equalized on foreign and domestic goods in the CBA region, the additional effort and paperwork to import goods may provide domestic producers a small level of protection in the domestic market. This imposition of additional effort and paperwork, often referred to as compliance costs, is one of the major sources of concern when implementing these policies. Negative aspects of CBAs The main drawback from CBAs stems from the compliance costs. Most of these costs come from the requirements to monitor, report, and verify carbon contents of products, which has the potential to impose undue burden on small- and medium-sized enterprises (SMEs), as well as developing nations3. In Canada, only the largest GHG emitters (facilities releasing 10 kilotonnes or more of emissions in a year) are currently required to track and report GHG emissions8. With the imposition of the EU CBAM, SMEs may now need to track these emissions if they want to export to the EU. This may further impact these parties due to substantial drains on resources, from complying with these requirements, or unexpected drops in export revenues9. Fracturing of international trade into two distinct groups3 is a major concern. The first group would be those with the ability, and potentially a comparative advantage, to implement climate-focused changes such as decarbonization, CBA compliance, and policy adaptation. These parties would then benefit in trade with CBA regions, while the second group would be unable to effectively engage in trade with the CBA regions and would be worse off due to the new trade barriers. CBAs may pose further concern due to increased input costs in the domestic markets. With all goods facing the same cost for carbon, inputs to production (such as steel) may experience sharp price increases. These increases will raise the costs of production for subsequent products, increasing prices for final goods, and hurting domestic consumers and producers. Consumers may now face higher prices for a broader range of products, while producers would likely face reduced profits and diminished competitiveness internationally3. EDC | Exploring the impacts of the EU’s carbon border adjustment policy 10 IMPLICATIONS AND OPPORTUNITIES Impacted EU partners and industries As shown in Figure 3, only 33% of current EU EITE imports come from carbon-pricing nations (including 1% from Canada). The remaining imports come from low- or non-pricing nations such as Russia, China, Türkiye, and India. When the EU CBAM is imposed in 2026, the low- or non-pricing partners will face heavy import fees on these goods, and trade flows will likely shift towards carbon-pricing nations to avoid fees. This is also likely to strengthen the reshoring trends in the EU, as more production may relocate back to EU nations. Currently, nations outside the EU with carbon-pricing policies above US$10/tonne of CO2 include: Switzerland, Norway, U.K., South Korea, Iceland, Canada, New Zealand, and Uruguay. These countries have the most opportunity for trade growth following the CBAM policy implementation. Figure 3: EU EITE imports by country of origin in 2022 * Low- and non-carbon pricing nations include those with carbon prices below US$10/tonne of CO2 and nations with sub-national policies. Source: Eurostat Low- and non-carbon pricing nations* (67%) Canada (1%) Carbon pricing nation (33%) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% SWITZERLAND NORWAY U.K. SOUTH KOREA REMAINING RUSSIA CHINA TÜRKIYE INDIA REMAINING EDC | Exploring the impacts of the EU’s carbon border adjustment policy 11 Figure 4 showcases how iron, steel, and aluminum make up almost 75% of the EU’s EITE imports. The EU also expects their hydrogen demand to increase susbstantially, with annual hydrogen imports likely to reach 10 milllion tonnes by 203010. In 2026, when the CBAM policy comes into effect, these are the three industries that will have the highest opportunities for international exporters. Electrical energy is less prone to trade shifts due to the proximity requirement in transportation, but there’ll also be smaller opportunities in fertilizer trade. Canada’s opportunities Canada is currently the fifth-highest carbon- pricing nation outside of the EU. With these prices set to increase each year until C$170/tonne of CO2 in 203011 , Canada is uniquely positioned to benefit from the implementation of the EU CBAM. In 2021, 4.8% of all Canadian exports went to the EU (see Figure 5), highlighting the already established trade routes between the two regions. This exposure to the EU market would double if Canada were to capture just 10% of the current EU EITE imports. Canada also competes on global production of the EITE products. Canada is the world’s second-largest exporter of fertilizers, just behind Russia12 and the fourth- and ninth- largest producer of primary aluminum and iron ore (respectively)13 14. Canada is one of the top hydrogen producers in the world (supplying roughly 3.3% of global output in 2020), with a mandate to establish itself as one of the Top 3 producers of clean hydrogen by 205015. Building on this is Canada’s more than 75% clean electricity grid, which will aid in the decarbonization and competitiveness of these industries. The trading opportunities for Canada following the CBAM implementation are substantial due to our established trading relationships, the nation’s rare level of carbon pricing, and its established performance in the key EITE industries. For this reason, Canadian companies could capture more of the international market, and further establish themselves as leaders in these industries, if they were to capitalize on the trade disruptions following the EU CBAM. 30% Aluminum and articles thereof 0% Articles of cement 17% Electrical energy 0% Hydrogen9% Fertilizers 44% Iron and steel Figure 4: EU EITE imports by product in 2022 EDC | Exploring the impacts of the EU’s carbon border adjustment policy 12 EDC opportunities In order for Canadian exporters to capitalize on the opportunities following the CBAM implementation, substantial support and guidance will be needed. EDC’s financial solutions will be valuable for freeing up enterprise capital—allowing firms to invest in decarbonization, production expansion, and policy compliance activities. Even more critical for Canadian success will be EDC’s ability to offer expert knowledge on these complex policies and opportunities. Guidance will be even more important for SMEs that don’t have the resources to research the new policy, compliance requirements, or market developments. Figure 5: Value and share of Canadian exports to the EU (Millions CAD and percentage share of exports) Source: Statistics Canada 14 18 22 26 30 34 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 2005 2007 2009 2011 2013 2015 2017 2019 2021 Figure 5: Value and share of Canadian exports to the EU (Millions CAD and percentage share of exports) Share of exports (LHS) Total value (RHS) EDC’s financial solutions will be valuable for freeing up enterprise capital— allowing firms to invest in decarbonization, production expansion, and policy compliance activities. EDC | Exploring the impacts of the EU’s carbon border adjustment policy 13 CONCLUSIONS As this is such a novel policy, there’s still a lot of unknowns. As the EU CBAM is further developed, more specific policy structure will be defined, helping identify key areas of"

For exporter services such as market research and assistance with your export strategy, you can contact the Montreal Chamber of Commerce, which offers personalized support in international trade. You can reach the association at 514-871-4002 or by email at info@ccmm.ca.

Additional resources

• Services | Quebec International Trade (ORPEX) 
• Guide des organismes de soutien à l'exportation au Québec (In French Only)

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The de minimis rulerefers to the minimum value or quantity of goods that can be imported or exported without incurring duties, taxes, or other trade restrictions. This rule is typically set at a low threshold, like $800 for the U.S., to allow for small or casual transactions to be conducted without the burden of trade regulation. The de minimis rule is used to simplify trade procedures and reduce the administrative burden on customs officials and is intended to encourage small businesses and individuals to participate in international trade.

Additional resources

• Section 321 Programs | U.S. Customs and Border Protection (CBS)
• De Minimis Value | United States Department of Commerce

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The following contacts could provide more assistance:

• **The Canadian Trade Commissioner Service (TCS) **assists Canadian companies in doing business in the United States. Their team can provide additional information on the U.S. government procurement process, including Buy America(n) regulations, as well as share with you a list of qualified contacts (e.g. law firms and/or import/export firms specializing in Canada-U.S. trade and Buy America(n) compliance).
• Contact the TCS team in Washington  or wshdc.infocentre@international.gc.ca.
• You can also find lawyers specializing in international trade compliance and U.S. public procurement by using these directories: Best Lawyers, Who's Who Legal, Chambers and Partners, and Legal 500.

***Please note: EDC can’t comment on the quality of their services. **

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