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B.C.'s Trade Diversification Strategy

Last updated on April 15, 2024

B.C.'s Trade Diversification Strategy is an innovative approach to export development and investment attraction. The Strategy uses B.C.’s competitive advantage to increase export and investment opportunities in targeted new markets, expand in key existing ones and increase the number and diversity of B.C.’s exporting businesses.

Last updated: May 11, 2023 

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Why the Strategy was developed

B.C's Trade Diversification Strategy was developed to:

  • Leverage B.C.’s economic strengths to support sustainable, innovative and inclusive economic growth
  • Support B.C. businesses to access international opportunities
  • Better protect British Columbians from market volatility and geographically specific trends and changes

The strategy was informed by:

  • B.C. businesses
  • Industry groups
  • Indigenous-led organizations
  • Organizations led by those who identify as women, people of colour, 2SLGBTQ+, persons with disabilities and other under-represented groups
  • Federal government partners
  • Other provincial partners

A robust market evaluation model was developed to ensure new trade and investment opportunities align with B.C.’s values and policy priorities.

Download B.C.'s Trade Diversification Strategy (PDF, 8.4MB) to learn more.

Goals and action plan

B.C.’s Trade Diversification Strategy will allow B.C. to be more responsive to international opportunities and be a leader in supporting an inclusive economy that celebrates the strengths of diverse businesses. The Strategy focuses on two major goals:

  • Goal 1: B.C. businesses have more trade and investment opportunities in new markets
  • Goal 2: B.C. has a greater number and diversity of businesses exporting goods and services

The Strategy supports the key objectives of clean and inclusive growth in the StrongerBC Economic Plan.

These 2 goals will be accomplished through 12 key actions. These actions were designed to support B.C. businesses at all stages of trade readiness, increase the number and diversity of groups in trade and enhance B.C.’s trade presence in three new markets:

Goal 1: B.C. businesses have more trade and investment opportunities in new markets

Actions:

  • Establish B.C. trade and investment staff in Mexico, Taiwan and Vietnam
  • Deliver strategic export and investment initiatives
  • Strengthen bilateral relationships and strategic partnerships to support B.C. businesses increase exports and attract investment
  • Host information sessions for both B.C. exporters and prospective international investors to promote business and investment opportunities
  • Help B.C. businesses showcase their export products and services
  • Deliver business literacy webinars and sharing trade readiness material, to increase awareness of opportunities in Mexico, Vietnam and Taiwan and promote the benefits of Free Trade Agreements and inclusivity

Goal 2: B.C. has a greater number and diversity of businesses exporting goods and services

Actions:

  • Provide tailored export and investment attraction supports for B.C. businesses and sector associations in B.C.’s priority markets
  • Provide access to professional advisory services to qualified B.C. exporters
  • Support export-ready under-represented business owners to expand their international business development and increase export revenue through the Trade Accelerator Program
  • Partner with Indigenous-led economic development groups and Indigenous-led business accelerators to enhance export and investment programming within their offerings to Indigenous businesses
  • Partner with underrepresented businesses and representative organizations to enhance export and investment programming and address barriers to exporting
  • Enhance services to under-represented businesses across the province through the Export Navigator program

Benefits to British Columbians

B.C.’s Trade Diversification Strategy provides benefits to British Columbians including:

  • More B.C. products and services being exported to new and emerging markets, creating a more balanced and diverse customer base
  • More widespread participation by B.C. businesses in international trade
  • Increased participation by Indigenous communities and other groups historically under-represented in exporting and international investment attraction
  • Attracting investment that aligns with our social, environmental, and governance values
  • Growing global profile for B.C. as a supplier of innovative goods and services that reduce carbon emissions and support environmental responsibility

Other Resources

Get help

For questions about the B.C. Trade Diversification Strategy, e-mail: international@gov.bc.ca.

Visit Trade and Invest British Columbia to learn more about:

  • B.C.’s trade diversification efforts
  • Expanding your business globally
  • Investing in British Columbia