As part of Canada’s Indo-Pacific Strategy, the Minister of Export Promotion, International Trade and Economic Development Mary Ng is leading a Team Canada Trade Mission to South Korea.
The Indo-Pacific region is Canada’s second-largest regional export market, and in 2023 represented two-way merchandise trade valued at $257 billion.
Ng says South Korea, is one of the area's fastest-growing markets and a strategic partner for Canada.
As of 2023, South Korea is Canada’s 7th-largest merchandise trading partner, 8th-largest export and 6th-largest import partner.
The Trade Mission involves more than 240 people from over 160 Canadian businesses and organizations allowing them to explore export opportunities and connect with potential business partners and clients.
The President of the Canadian Cattle Association, Nathan Phinney is part of this week's Trade Mission.
Phinney says the CCA sees the area as being a key market for the beef industry.
"We're promoting our product and saying, you know, we are here, we are committed, our quality is unlike any other."
Phinney says participating in Trade Missions like this is important in showing potential customers that we are serious about wanting to improve market access.
"Trying to find these trading partners that come to the table are willing to trade, want our products and you know, regardless of tensions of the day are committed to staying there through the duration. That's in part what we're going there for."
Canada’s Indo-Pacific Strategy was launched in November of 2022 and aims to create opportunities to expand trade and investment, grow good jobs and build supply chain resilience.
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