www.thesuburban.com<\/a><\/p>\nLaval’s already-thriving exporters are packing their bags. They stand to reap massive gains, thanks to the federal government’s new free trade initiative with the European Union, Laval Technopole’s director of international affairs told The Suburban<\/i> in an interview. <\/p>\n
\u201cInternational trade already supports a quarter of Laval’s $13.5 billion economy and one in four jobs,\u201d enthused V\u00e9ronique Proulx. \u201cThis is already a significant figure, one which the free trade agreement will only serve to increase.\u201d <\/p>\n
\u201cWe’re talking about getting better access to a 500-million-consumer market,\u201d she observed. \u201cDuties on 98 per cent of products will decrease, and harmonizing regulations will help Canadian investors to set up shop and create business in Europe\u2014and we already have quite a few of these in Laval.\u201d<\/p>\n
\u201cAt the beginning of 2013, 32 per cent of Laval’s 450 exporters were already selling in Europe,\u201d Proux continued. \u201cWhen we asked them where those 450 wanted to broaden their markets, 30 per cent of them said Europe.\u201d <\/p>\n
Most Canadians don’t realize that their economy is much more reliant on trade than countries like Japan, Germany and the United States. The EU trade pact could catapult Canada toward top spot among the world’s export economies. <\/p>\n
Outward-looking Sweden, Proulx said, earns 48.5 per cent of its income on exports. The Scandinavian nation’s trade thrust made it Europe’s economic star, drawing analysts from countries around the world that want to emulate its success. <\/p>\n
\u201cThe Quebec government aims to boost the Quebec reliance on exports to 55 per cent of the province’s economy,\u201d she added. \u201cIt will take about two years to implement the free trade agreement, so there is still time for companies that don’t yet have a distribution network in place in Europe to take advantage of the new pact.\u201d <\/p>\n
Proulx expects the free trade agreement will create ample opportunity for Laval’s biotech city, which attracted $1 billion in investment to Laval in 2012 alone.<\/p>\n
\u201cSoftware and service companies are usually the first to export,\u201d she explained. \u201cIt’s easier than manufactured goods. Laval’s medical technology companies, which bridge the life sciences and information technology, are also sure to benefit from the EU pact.\u201d <\/p>\n
\u201cCompanies in niche markets will benefit even more,\u201d she predicted citing the example of Citagenix, which developed bone-regeneration technology. \u201cThey have distributors all over Europe and opened up a subsidiary there a few years ago.\u201d <\/p>\n
The city’s manufacturers also stand to gain. <\/p>\n
\u201cLaval already has a bridgehead in manufactured goods,\u201d Proulx said. \u201cSHAN bathing suits are already sold in various European markets, like a lot of other Laval consumer goods.\u201d <\/p>\n
A senior federal trade official said, Oct. 18, that generic drug exports will be exempted from the free trade deal. <\/p>\n
\u201cA significant proportion of [the European Union’s pharmaceutical] business consists of exports,\u201d said the official, who spoke on condition of anonymity. \u201cWe’ve also agreed for some additional protection for patent terms. Up to two years will be allowed, in contrast to the European Union and the United States, which provide up to five years.\u201d <\/p>\n
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Europe trade pact poised to bring more money, jobs By Robert Frank www.thesuburban.com Laval’s already-thriving exporters are packing their bags. They stand to reap massive gains, thanks to the federal government’s new free trade initiative with the European Union, Laval Technopole’s director of international affairs told The Suburban in an interview. \u201cInternational trade already supports<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1579","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\n
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