imports from India). Given the size of these
two economies and what each country has
to offer, there is significant potential for
growth. Hence, both the Canadian and Indian
governments have set a target to increase
bilateral trade to $15 billion in the next few
years.
Opportunities by sector
In addition to the resource sectors (oil & gas,
mining, and forestry), other key industry
sectors for emerging markets include:
• Infrastructure – Every emerging economy
is spending significantly to build up its
infrastructure in areas such as highways,
airports, ports, rail networks, etc. Large
Canadian companies like Bombardier,
SNC-Lavalin, Pratt & Whitney, and
Magna International are already engaged
in trade with emerging markets, but
mid-sized or smaller Canadian companies
could also get involved by analyzing
whether their products, technology, or
services have a competitive advantage.
• Energy – Emerging countries are investing
not only in traditional sources of energy,
but also in renewable energy. This, too, is
an area where Canadian companies have a
lot to offer, ranging from hydro plants to
solar, wind, and fuel cells, along with the
technology driving the development of
these opportunities.
Hemera Technologies/AbleStock.com/Thinkstock
young population—could become its demographic downfall if these young people are not
trained and educated to become the value-added workers of tomorrow. With about one
million schools and 25,000 institutes of higher education, the government spends US$30
billion a year or 3.7% of GDP on education, yet over 50% of the education sector is private.
Based on the demand and current supply, there is a tremendous opportunity for Canadian
universities, colleges, and schools.
• Other industries – Other industries that offer opportunities include information &
technology, the financial sector, water & waste-water management, and manufacturing.
• Food processing and agribusiness – With
the significant increase in consumption in
emerging markets, there is a need for new
products and technology in food
processing, grain handling, and storage.
For many emerging markets, a significant
portion of agricultural produce is spoiled
due to a lack of integrated cold-chain,
storage, and other infrastructure facilities.
These are areas where Canadian companies
have an edge and can bring their
technology and know-how to bear. Canada
is already exporting grain and pulses (dry
beans