Canadian firms and diplomats are working with their European colleagues to seek out methods to diversify commerce because the U.S. threatens to impose steep tariffs.
“We wish to be a part of the answer, when it comes to creating new enterprise alternatives and diversifying commerce,” mentioned Tjorven Bellmann, Germany’s ambassador to Canada.
She was talking at a press briefing Wednesday forward of the Hannover Messe, the world’s largest trade honest. It’s an annual occasion in Germany and Canada is that this yr’s associate nation.
“It’s a very well timed alternative, given the geopolitical circumstances and all of the dialogue right here within the nation about the necessity to diversify commerce,” Bellmann mentioned.
She mentioned she’s one of many European ambassadors in Ottawa who’ve speaking with one another and with firms, researchers and authorities officers on each side of the Atlantic about methods to spice up commerce.
Bellmann mentioned there’s a number of curiosity in capitalizing on a commerce deal that Canada and the European Union signed in 2017 – the Complete Financial and Commerce Settlement, often known as CETA.
“I’m asking the query to interlocutors all through Canada that I meet with – how can we make CETA much more operational?” she mentioned.
“Each side have work to do on figuring out alternatives.”
She mentioned Canadian universities are enjoying a big function in rising commerce as each nations look to maneuver ahead in fields like inexperienced vitality and quantum computing.
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Liberal MP Ryan Turnbull mentioned Canada is seeking to Europe as a counterbalance as U.S. President Donald Trump threatens to impose damaging tariffs on Canada and its European companions.
“The rise of protectionism and (the) financial uncertainty that brings us, it’s shaken us up,” mentioned Turnbull, who’s parliamentary secretary to the trade minister.
“The geopolitical tensions that we at present expertise, I believe, make this well timed when it comes to a chance for Canada to grab strengthening a various set of relationships that can make us extra resilient sooner or later.”
Bellmann mentioned the Hannover Messe commerce present brings collectively about 130,000 in-person attendees, equivalent to engineers and CEOs, together with 4,000 exhibitors from 156 nations.
Throughout a 2022 go to to Newfoundland to signal a deal to import Canadian hydrogen, German Chancellor Olaf Scholz introduced that Canada would take centre stage at this yr’s occasion.
Since then, Trade Canada has been doing briefings with Canadian firms and potential companions on a number of continents to put the groundwork for offers to be signed at Hannover Messe.
Canadian firms can have a distinguished bodily house on the honest, and they’ll assist lead varied periods.
They embrace the Eureka summit on analysis initiatives geared towards commercialization; Canada would be the first non-European nation to co-chair that session. Canada joined the EU’s massive Horizon Europe analysis fund in late 2023.
Stéphane Lessard, appearing director-general for European affairs at World Affairs Canada, mentioned Germany shares with Canada values which are “being challenged all over the world” and Ottawa is looking for partnerships on innovation and analysis which have longer timelines than commerce in items.
“Canada is on the lookout for buddies that share our values, so this actually issues,” he mentioned.
Jayson Myers, head of Subsequent Era Manufacturing Canada, mentioned he’s gone to the occasion in earlier years and noticed one Canadian firm get a $5 million funding on the spot.
“It’s a chance for Canadian firms to fulfill with new suppliers, new innovation companions, to see what’s the vanguard,” mentioned Myers, whose group leads one among Ottawa’s 5 innovation clusters.
“These discussions are rather more vital than ever.”
He mentioned Canadian firms need to associate this yr with firms utilizing synthetic intelligence, quantum expertise and robotics to enhance their merchandise, particularly in Germany’s massive automotive and equipment sectors.
Myers mentioned he was pleasantly stunned to see few firms have pulled out of the Canadian delegation since Trump’s tariffs threats started. He mentioned practically 250 firms are sending roughly 280 delegates, together with 1,000 Canadian attendees.
Earlier this month, Germany’s diplomatic missions and commerce company launched a joint assertion with the Canadian-German Chamber of Trade and Commerce saying that Berlin needs extra commerce and funding with Canada.
It famous that bilateral commerce endured all through the COVID-19 pandemic and there may be “room to enhance.” “We don’t reap CETA’s full potential,” the assertion reads.
Bellmann mentioned Trump’s commerce threats haven’t harm German funding in Canada however firms elsewhere are ready for extra certainty.
“Plenty of funding selections are usually not being taken in the intervening time, which is one thing we remorse,” she mentioned, including that the EU is able to impose retaliatory tariffs however hopes the Trump administration backs down.
“We don’t imagine we should always begin dividing the world up into mutual tariff obstacles and tariff threats.”
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