Question Period Note: TRADE DIVERSIFICATION

Trade diversification is a leading pillar of the Government's economic agenda.

»The Government has set the goal of doubling Canada's non-U.S. exports over a decade.

»The Government is advancing trade agreements with new partners, increasing the capacity of Canada's trade corridor infrastructure, and expanding support to Canadian businesses to diversify their trade.

»By building One Canadian Economy and prioritizing nation-building projects, the Government is creating the foundations for our businesses to succeed abroad.

Canada is deepening ties with established partners and forging new relationships to expand opportunities for Canadian exporters around the world, including advancing a robust negotiations agenda focused on: a comprehensive economic partnership agreement with India, free trade agreements with ASEAN and Mercosur, free trade agreements with the United Arab Emirates, the Philippines, and Thailand, expanding the CPTPP to include new members such as Costa Rica and Uruguay, as well as others.
Budget 2025 affirmed trade diversification as a core pillar of the Government's economic agenda, with an emphasis on investing in infrastructure and programs that enable businesses to reach new markets:
A new $5-billion Trade Diversification Corridors Fund to enhance the transportation infrastructure that helps move Canadian products more efficiently to global markets.
Dedicated investments to support the international development of Canada's clean tech, agriculture, and nuclear energy sectors, among others.
More support for Canadian businesses and innovators to explore overseas opportunities and partnerships, including an allocation of $68.5 million/4 years for the Trade Commissioner Service's CanExport program.
In January 2026, Canada established a new strategic partnership with the People's Republic of China. Increasing bilateral trade is at the heart of the new partnership, with the Government targeting a 50% increase exports to China by 2030.
In January 2026, First Ministers agreed to enhance the coordination of international efforts as they work together to promote new investments and grow Canada's economy. The Prime Minister also announced the launch of a Team Canada Trade Hub to support enhanced coordination of trade diversification efforts and to support provinces, territories and industry to do more business abroad and to get more investment into Canada.

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