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Global Affairs launches five year, $50 million trade promotion fund

Published by Brad Fougere on January 05, 2016

Canadian Manufacturers & Exporters welcomes today’s announcement by the Minister of International Trade, Chrystia Freeland, of a new government program to assist Canadian small and medium sized exporters. CanExport, delivered by the Trade Commissioner Service (TCS) of Global Affairs Canada in partnership with the National Research Council Industrial Research Assistance Program (NRC-IRAP), will provide up to $50 million over five years in direct financial support to small- and medium-sized enterprises (SMEs) in Canada seeking to develop new export opportunities, particularly in high-growth priority markets and sectors.

"Access to funding continues to challenge Canadian exporters, particularly SME’s," says CME President and CEO Jayson Myers. "The CanExport Fund will help to address such challenges by aiding companies intent on finding customers in new global markets.”

Based on CME’s recommendations, this new fund will help to defray the costs of international business travel, participation at trade fairs, market research and the adaptation of marketing tools for new markets. Qualifying companies can receive between $10,000 and $99,999 to cover up to 50 per cent of eligible expenses. Firms must be incorporated or limited liability partnerships with at least one full-time equivalent employee and not more than 250 with revenues not less than $200,000 and no more than $50 million.

As requested by CME, the Government of Canada will make such funding available to new exporters as well as more experienced ones, has created a streamlined application process and has committed to 25 day turn-around time for applicants.

CME seeks to double manufacturing and exports in Canada by 2030 and is committed to working with manufacturers, exporters and government partners to develop programs and tools to attain that target.

Members of CME seeking assistance with respect to applying for funding through CanExport should contact CME’s Global Business Services lead, Philip Turi at Philip.turi@cme-mec.ca. This is a members only service.      

For information about CanExport, please follow this link: http://international.gc.ca/canexport/index.aspx?lang=eng

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