Canada is one of the most stable economies in the world, boasting a strong infrastructure, a high GDP, and close trade relations with the United States, a leading global economic power. The country’s key industries include manufacturing, information technology, energy, agriculture, food processing, mining, and transportation. Lithuanian companies looking to enter the Canadian market may find particular opportunities in high-value-added products, agriculture and food production, technological innovations, the furniture and textile industries, and eco-friendly solutions.
Lithuania’s small market encourages businesses to expand internationally. Recognizing the interest of Lithuanian business representatives in foreign markets, Kaunas Chamber of Commerce, Industry, and Crafts, together with Enterprise Europe Network Lithuania, organized a seminar titled “Business Opportunities in Canada.” The event featured a presentation by Nicolas Lepage, Economic Advisor and Trade Commissioner at the Embassy of Canada to the Baltic States, who shared insights on business expansion in Canada.
One of the key steps in strengthening relations between Canada and the Baltic States has been the expansion of diplomatic representation in the region. In 2023, new ambassadors were appointed in Vilnius and Tallinn, and a new regional trade commissioner was established in Riga to oversee bilateral trade relations with Lithuania, Latvia, and Estonia.
Discussing international trade, Nicolas Lepage emphasized the importance of the Comprehensive Economic and Trade Agreement (CETA) between the European Union and Canada. CETA creates significant opportunities for businesses by reducing tariffs, simplifying export procedures, and providing a more favorable investment climate. These benefits enable companies to compete at better prices and enter the Canadian market more effectively.
The free trade agreement has reduced trade barriers and significantly boosted economic exchanges between Canada and Lithuania. Statistics indicate that from 2016 to 2022, Canada’s imports from Lithuania increased by 8%, reaching €300.9 million, while exports from Canada to Lithuania grew by an impressive 231.7%, rising from €34.8 million to €123.6 million. These figures demonstrate that Lithuanian businesses are increasingly taking advantage of trade opportunities in the Canadian market.
When planning a business expansion into Canada, it is essential to understand the local business culture and legal framework. Clear communication, punctuality, and trust-based relationships are highly valued in Canada. The legal system varies by province, so before starting operations, businesses must familiarize themselves with regulations on company registration, taxation, and labor laws. Transparency is a key factor in the Canadian market, and the country’s regulatory environment ensures stability for both local and foreign enterprises.
After the seminar, participants had the opportunity to ask questions and receive individual consultations regarding specific business expansion plans in Canada. Kaunas Chamber of Commerce, Industry, and Crafts plans to continue organizing events that help business representatives explore new export markets and strengthen international partnerships.
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