Next week we are heading east. The high commission is opening up a ‘pop-up’ office for a week in Halifax and we’ll be out in full force promoting all things British through political, consular, cultural, trade, and defence themed events.
So why are we going to Halifax?
Well, from a trade perspective the numbers between the UK and Atlantic Canada are healthy, but we want to see them grow.
It is going to be a busy week. Just on the trade side we will host a delegation of 20 UK companies interested in the Canadian market, hold talks with representatives from all four Atlantic provinces, and in partnership with Dalhousie University, have a public roundtable on UK-Canada trade.
Over a billion dollars of exports already go from Atlantic Canada to the UK (making the UK the third biggest export market for the region) and over $900 million worth of UK exports go to Atlantic Canada (making the UK the fifth largest source of imports).
While realistically a significant amount of these products are likely transiting through Eastern Canada, rather than it being their final destination, it none the less shows the important hub role played by Canada’s east coast.
But this isn’t just about goods crossing borders. It is also about jobs on both sides of the Atlantic.
For example, New Brunswick-based frozen food producer McCain’s has five manufacturing sites and 1 R&D facility in Whittlesey. And Halifax-based company LED Roadway Lighting is the using the UK as their jumping point into the rest of Europe.
British companies also invest in Atlantic Canada. The UK engineering company Babcock has been a service provider to the Royal Canadian Navy for several years, including having a physical presence in Halifax.
Engine maker Rolls-Royce is also a major player in the region. They manufacture advanced oceanographic data collection systems used by both the Canadian Hydrographic Service and the Royal Canadian Navy.
For those looking to actually stretch their sea legs, the travel industry also remains a key component of our links. Cunard Line’s iconic Queen Mary 2 is a great example. It will be making a call later this year in Halifax as a part of its tenth anniversary voyage.
So what does the future hold?
For starters, the EU-Canada Comprehensive Economic and Trade Agreement (CETA) will be a big boost for transatlantic trade. It’ll mean more direct exports, greater opportunities for places like the Port of Halifax, and encourage more investment.
The second one to watch will be the EU-US Transatlantic Trade and Investment Partnership (TTIP), which when combined with the CETA, will further encourage companies to consider transatlantic supply chains that move goods, people, and investment.
So see, lots of reasons to head east (besides that famous Maritime hospitality)!