MBiz

8 WINTER 2024 NAVIGATING MANITOBA'S TRADE LANDSCAPE BY KRISTIN MARAND NAVIGATING MANITOBA'S TRADE LANDSCAPE M anitoba boasts a diverse trade portfo- lio around the world, including agricultural commodities, a strong manu- facturing sector and natural re- sources. With a central location in North America and access to reliable transportation networks, many industries thrive here: in 2023, the value of Manitoba's ex- ports rose five per cent, reaching approximately $16 billion. While the majority of these exports were to our neigh- bours down south — Manitoba's exports to the U.S. last year accounted for 72 per cent of total exports from the province — other top destinations for Manitoba goods include China, Japan and Mexico. Known for our rich farmland, Manitoba produces about 10 per cent of Canada's agricultural products. Agricultural goods such as wheat, pork, canola oil and frozen vegetables are some of the province's top exports, along with agricultural machin- ery, buses, pharmaceuticals and energy products. Our province is also the largest aerospace manufacturing centre in Western Canada and the third largest in the country for exports. Manitoban exporters also have the benefit of access to 16 trade agreements with more than 50 countries around the world, notably CUSMA (the Canada-United-States-Mexico Agreement, reinforcing economic ties within North America), CETA (the Canada-European Union Comprehensive Economic and Trade Agreement be- tween Canada and Europe) and CPTPP (the Comprehensive and Progressive Agreement for Trans- Pacific Partnership, a free trade agreement between Canada and Australia, Brunei Darussalam, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore and Vietnam). The provincial government has pledged to focus a new trade strategy on attracting investment, increasing export of products or services abroad and increasing Manitoba's overall presence on the global trade landscape. In October, the government announced $500,000 in new funding for export sup- port programming to help small and medium-sized Manitoba companies begin exporting or enhance their exporting activi- ties into new markets beyond the province. We talked with three experts about initiatives to enhance trade, diversify export markets and foster economic growth while navigating the potential of protectionism.

• Cover