The Province of British Columbia’s new Trade Diversification Strategy announced as part of the StrongerBC economic plan focuses on expanding into new markets beyond the US, and specifically targets Mexico, Vietnam, and Taiwan. The strategy focuses on six priority sectors for trade diversification – agrifoods, advanced manufacturing, clean technology, digital technology, forestry, and tourism. The Strategy is also designed to pair with the ESG Centre of Excellence, marketing BC businesses and providing funding to align with international ESG investment goals. Other aligned initiatives include the BC First Nations Centre of Excellence for Economic Development, Goods Movement Strategy, Mass Timber Action Plan, BC Hydrogen Strategy, and BC Centre for Agritech Innovation. Emerging businesses will be able to access $1.2 million of annual funding through the Export Navigator program.
The United States remains BC’s largest trading partner, followed by mainland China, Japan, and South Korea.
