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10 WINTER 2024 … HOW TO DIVERSIFY EXPORT MARKETS? NAVIGATING MANITOBA'S TRADE LANDSCAPE CONT. – Jamie Moses, Minister of Economic Development, Investment, Trade and Natural Resources "Manitoba will continue to focus on reinforcing our relationship with the U.S. and positioning Manitoba as a key economic partner. We also continue to work with key stakeholders in the agriculture and pork industries to continue advocating for the hardworking producers in Manitoba." PHOTO BY DARCY FINLEY André Brin: There are two ways to diversify: diversifying which markets we go to and diversifying from a product standpoint, and they're both interrelated. We have a diver- sified economy already. We have a competitive advantage in agriculture and manufactur- ing because of our location in transportation and logistics. Our job is to assist compa- nies in growing from a scale standpoint. As a supporting organization, we provide as much information and data as possible to help inform them when it comes time to decide. Due diligence is essential: understanding the product or service you have, what mar- kets need this or don't have this, and where you would have a competitive advantage. The more data we have, the more it will inform our deci- sions regarding markets and sectors. Alexandre Côté: Over the past decade, Manitoba's exports have grown steadily, driven by increasing global demand for its agricultural and agrifood products. Given the significance of interna- tional trade to the province, Manitoban companies need to leverage the support of the different agencies that manage the province's economic development and international trade portfolio to succeed in global markets. In Manitoba, the TCS works closely with industry partners to identify synergies and fos- ter collaboration, benefiting the province's economy. Our goal is to enhance efficiency and prevent duplication of efforts. Promoting a Team Manitoba and Team Canada approach is key. With Canada's implemen- tation of the Indo-Pacific Strategy, Manitoban compa- nies have a significant op- portunity to explore and enter new markets, particularly giv- en the expected growth in the region. The region's economic dynamism and population growth are driving demand for sectors where Canada and Manitoba excel. Jamie Moses: Manitoba's domestic exports went to 161 countries in 2023, which showcases the diversity of the province's export markets. While a significant percentage of goods were exported to the U.S., the data highlights the opportunities for expanding exports in other foreign mar- kets, especially in the Indo- Pacific region. By prioritizing trade mis- sions to the region, we are developing these connections for further growth. In April 2024, Manitoba participated in the Team Canada trade missions to Japan and South Korea. The province also attended the Global Affairs Canada Roadshow to Tokyo, Japan, in October 2023 and Mexico in June 2024. As we continue to focus on growth, we remain committed to expanding new opportuni- ties that benefit the Manitoba economy.

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