BC commercial interests are certainly focused on Asia and the Far East. But if Sub-Saharan Africa is not part of your global business strategy, consider this: growing infrastructure and commercial development needs, combined with economic growth and an expanding middle class, means the continent is rife with opportunities. Just under one billion people across 54 countries.
With projected annual growth rates of more than five percent, Sub-Saharan Africa has outpaced the BRIC, thanks to years of market reforms. The continent now hosts six of the world’s ten fastest growing economies.
Earlier this year, the then Minister of International Trade – The Honourable Peter Van Loan – discussed Canada-Africa trade and commercial partnerships at another CCAfrica Conference in Toronto. He highlighted the role that Canada’s businesses and entrepreneurs can play in supporting economic growth in Africa.
“Canada has emerged as a global economic leader,” said Minister Van Loan. “Canadian businesses offer expertise in key economic sectors in Africa. Canada is already the largest foreign investor in Africa’s mining industry, and our businesses are well positioned to take on a leadership role in Africa’s economic development in the years ahead.”
Canadian companies have the expertise to take on a leading role in developing key sectors in Africa, such as telecommunications, agriculture, energy, transportation, infrastructure, natural resources and education. In 2010, bilateral trade with Africa reached almost $13 billion, a 72.5-percent increase over the previous five years.
Lucien Bradet, CEO and President of the Canadian Council on Africa, recently was quoted in As Bradet points out, if Canadian exporters and investors ignore Africa, they will miss out on its vast potential. “Africa is a land of opportunity for Canadians in every field. Unfortunately, Canadians are not present enough to seize all the opportunities,” he says. “Other countries are much more active than we are and the competition is big. If we don’t make a concerted effort, they will take over territories and opportunities that we are in a wonderful position to pursue.”
Asia trades with Africa; BC (Canada) trades with Asia…why not open the doors to Africa directly?
Dispelling the myths
Want to know more about doing business in Africa? The upcoming Exploring New Frontiers: Opportunities in Canada – Africa Economic Relations, to be held in Vancouver on January 25th at the prestigious Vancouver City Terminal Club, will help dispel the myths and explore Africa’s vast potential. The conference brings together African leaders, Canadian business, economists and lending agencies to discuss growth sectors, financing and the many business opportunities. This is a unique event for Vancouver!
Want to know more about doing business in Africa? The upcoming Exploring New Frontiers in Canada – Africa Business Opportunities, to be held in Vancouver on January 25th at the prestigious Vancouver City Terminal Club, will help dispel the myths and explore Africa’s vast potential. The conference brings together African leaders, Canadian business, economists and lending agencies to discuss growth sectors, financing and the many business opportunities. This is a unique event for Vancouver!
