QUESTION PERIOD — International Trade
International Market Access
April 29, 2026
Senator Moreau, in yesterday’s spring economic update, the government notes that Canadian exporters are beginning to adapt to shifting global trade dynamics, with early signs of diversification beyond the United States.
I have long argued that Canada is fortunate to have 15 free trade agreements outside of the Canada-United States-Mexico Agreement, or CUSMA, and we need to take greater advantage of this preferential access to markets across Europe, Asia and the Indo-Pacific. Could the government elaborate on how it is actively leveraging these agreements to help Canadian businesses scale into new markets?
More specifically, what concrete measures are being taken to connect Canadian firms — particularly small- and medium-sized enterprises, or SMEs — with partners abroad, reduce barriers to entry and ensure that we meet our objective of doubling non-U.S. exports by 2035?
The government knows that trade agreements expand market access for Canadian businesses, enabling them to grow and prosper. The government wants to ensure that Canadian businesses harness the potential of these agreements to their fullest.
You will be particularly proud, senator, to know that we had the first trade mission to Italy in Europe, where the talent, competitiveness and capability of Canadian businesses were showcased to Italian partners. That is why Budget 2025 prioritized small businesses’ readiness through specialized initiatives, including the new $46.5-million SME Export Readiness Initiative and $68.5 million to strengthen and boost the CanExport program.
Thank you for that answer. As noted in yesterday’s update, 65% of exporters want to enter new markets in the next two years. As these firms seek new export destinations, what additional supports — beyond financing and insurance — are being deployed to help businesses build on-the-ground relationships in these new markets? The imperative for action is now, and the government needs to support these businesses as we diversify our economy.
Thank you. There are many initiatives and trade commissioners around the world, notably in Italy, along with support from organizations like Export Development Canada and BDC, which will continue to be there to help businesses navigate new foreign markets.
Notably, the government is providing $500 million to BDC to provide more commercial resources and insight to SMEs looking to export.
