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Determine your company's readiness to enter your first export market or to expand into new international markets.
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An export plan is a strategy detailing how a company will enter a new export market. It describes the steps needed to develop sales by identifying the customer, distribution and competitive positioning.
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Market research is paramount in determining the best export market(s) for your product or service. Canada has 15 free trade agreements covering 51 countries. Businesses can start by gathering market intelligence for regions of interest - for example, Indo Pacific, Europe, Latin America - before searching for country and economic information for a specific target market. Country and market info | EDC.
Export regulations refer to the set of laws, rules and policies established by a country or international body that govern the export of goods, services or technologies to foreign markets. For businesses, understanding and adhering to export regulations is critical to avoid penalties, embargoes or damage to their reputation. Depending on the product or service being exported and the destination market, there will be different requirements and regulatory organizations to deal with. Whenever possible, companies should leverage Free Trade Agreements that will reduce the tariffs and provide preferential market access (listed here Canada's international trade and investment agreements). Companies should also ensure that their product meets the rules of origin criteria to qualify for tariff deductions. Companies can use the Tariff Finder tool to find the applicable tariff for their product Customs & duty calculator for your business | Canada Tariff Finder. To ensure further awareness of geopolitical barriers or issues, companies can check Global Affairs Canada for the latest information.