On April 8, the Calgary Chamber hosted the Hon. Anita Anand, Canada’s Minister of Foreign Affairs, for a discussion on the federal government’s approach to trade diversification and economic diplomacy amid a rapidly changing global landscape.
Minister Anand began her presentation with an overview of the geopolitical challenges Canada is currently facing. She referenced Prime Minister Carney’s speech at the World Economic Forum in Davos and the framework he set for diversifying Canada’s trade opportunities and putting our diplomatic relations into practice. The Prime Minister has already been to 25 countries since he took office in March last year, signing more than 12 trade agreements across four continents within the last six months. Minister Anand outlined Canada’s intentions to further diversify trade partnerships, with plans to double non-U.S. trade over the next 10 years and strengthen Canada’s domestic economy by improving interprovincial trade and investing in nation-building projects. Security and defence are also a priority for the federal government, with $82 billion invested in the last budget for national defence.
Minister Anand emphasized the importance of a term she called “principled pragmatism,” and turning this into a reality for Canada during periods geopolitical change.
In the fireside chat with Calgary Chamber President & CEO Deborah Yedlin, Minister Anand highlighted the following:
- Canada is exhibiting economic growth, and Alberta is at the centre of this change, with the province’s oil reserves and expertise in agriculture, technology and manufacturing supporting economic growth.
- Effective diplomacy involves staying at the table during challenging times.
- Minister Anand hopes to attract more foreign direct investment to Canada, but we first need to reduce regulatory burdens. Capital needs certainty to stay.
- The federal government has intentions to eliminate internal trade barriers, many of which have already been removed.
- Small- and medium-sized enterprises are an essential component of Canada’s diversification strategy.
The Calgary Chamber extends sincere thanks to our presenting sponsor, Imperial Oil, and our thanking sponsor, the School of Public Policy, for their support of this event.
