On March 18th, Prime Minister Harper announced a total of $50 million over five years to support export market development. The funding provides direct financial assistance to companies exporting in emerging markets for the first time.
The funding would be in the form of non-repayable contributions, with cost-matching by recipients. Funding would support activities such as participation in trade fairs and missions and market research.
The announcement also includes a $42 million expansion of the Canadian Trade Commissioner Service (TCS) over the next five years with $9.25 million in ongoing support after that. There are currently 160 TCS in Canada and around the world providing export advice and guidance to entrepreneurs.
The announcements will help Canadian businesses take advantage of Canada’s new trade agreements in Europe and Asia.
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