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SURREY INTERNATIONAL TRADE E-NEWSLETTER FEBRUARY 2022

SURREY INTERNATIONAL TRADE E-NEWSLETTER JUNE 2022

SURREY INTERNATIONAL TRADE E-NEWSLETTER AUGUST 2022

Surrey International Trade Centre Updates

Surrey International Trade Centre Update – April

Attention Importers!

All Canadian Importers Required to Register into Online Canada Customs Portal

To maintain and improve Canada’s competitive advantage on the global stage, the Canada Border Services Agency (CBSA) is modernizing the way they do business and collaborate with the importing community. The CBSA Assessment and Revenue Management (CARM) project will revolutionize the importation process for all importers, regardless of a company’s size or whether they pay duty and taxes on their imports to Canada.

QUESTION: Does your company import into Canada?  Yes? Then your company is impacted.  Read on.

Release 1 will introduce the CARM Client Portal which will require all Canadian importers to do the following:

  • Set up and establish their account and grant the necessary access to their authorized third-party service providers; and
  • Select new options for online payments via credit card and pre-authorized debits.

Once registered, Canadian importers will also have access to new tools through the portal. Importers will be able to look up tariff classifications, retrieve previous import data and initiate and track ruling requests.  It is worth getting onto the CARM Client Portal as soon as possible.

What Does “Soon” Mean?

The CBSA CARM Client Portal is scheduled to open on a voluntary basis in Spring 2021 and be mandatory by Spring of 2022 for every Canadian commercial importer.

Anything Else You Should Know?

Release 2 of CARM will be implemented in Spring 2022 and includes significant changes for importers – some of which will require advance preparation to avoid import clearance delays.  One significant change to be aware of is that CBSA’s current position is that come Spring 2022, all importers will be required to secure and post their own account security for the duty and GST they owe on importers.  Importers will no longer be able to use their customs brokers bonds. Failure to post or maintain the necessary amount of security with the CBSA will impede the importation of a company’s goods.

FOR MORE INFORMATION: https://www.cbsa-asfc.gc.ca/prog/carm-gcra/menu-eng.html

Demographics & Data

International Trade Data

Importers Database

2020-Border-Data-Digest

Step-by-Step Guide to Exporting

The Step-by-Step Guide to Exporting will help you get your business export-ready and well positioned for commercial success abroad.
Learn the essential principles of exporting whether you are a novice, intermediate or advanced exporter.
The Guide will help you to:
  • Be more competitive. Apply proven export strategies.
  • Sell to more customers. Target global buyers online.
  • Close more deals. Secure sources of export financing.
  • Enter more markets. Leverage the benefits of free trade.
  • Save time & avoid risks. Learn the legal aspects of trade.
EXPORTING GUIDE

CanExport

The CanExport program:

Small and medium sized companies may access up to $75,000 in funding to assist with international market development activities. We cover up to 75% of costs for export marketing of your products and services in international markets where you have little or no sales.

What activities are funded?

  • Gathering market intelligence (custom research, reports and studies)
  • Applying for intellectual property protection in international markets
  • Applying for certification in international markets
  • Seeking expert legal and business advice
  • Search Engine Optimization
  • Translating, adapting or creating marketing materials
  • Attending virtual trade shows, networking functions, meetings or conferences

When travel resumes, we also support:

  • Visits to foreign markets
  • In-person participation at trade shows, networking functions, meetings or conferences
  • Participating in a trade mission

Who can apply?

Eligible Canadian small and medium-sized enterprises must:

  • be for-profit
  • be an incorporated legal entity or a limited liability partnership (LLP)
  • have a Canada Revenue Agency business number (unless registered on First Nations lands)
  • employ 500 or fewer full-time equivalent employees
  • have $100,000 to $100 million in declared revenue in Canada during its past fiscal year (or 12 months for quarterly filers)

For more details, visit CanExport.

BC Market Monitor

Welcome to the official trade and investment e-newsletter of the Province of British Columbia. The BC Market Monitor offers the latest industry success stories as well as resources and tools for investing, exporting and networking at home and abroad. Get connected to British Columbia and Asia-Pacific markets in 2011 and beyond.

Trade and Invest BC

Trade and Invest BC works with international enterprises to help them build strong links to the resources, skills and businesses that make British Columbia an attractive place to work and invest. They help international companies invest in British Columbia, one of North America’s most competitive and dynamic business environments. Strategically located at the commercial crossroads between the Asia-Pacific region and North America, British Columbia is Canada’s Pacific Rim province. Companies in British Columbia benefit from low taxes, competitive operating costs, stable labour conditions, and an exceptional multicultural work force that is well educated, highly skilled, and productive.

International Interns

If you are seeking international interns for your business, contact AIESEC at www.aiesec.ca or aiesec.kwantlen@gmail.com.

Trade Variety and Productivity in Canada Report

Produced by Bo Chen, School of International Business Administration, Shanghai University of Finance and Economics. Asia Pacific Foundation of Canada Research Reports Vol. II, No 1; February 2010.

The relationship between trade variety and productivity is one of the central interests in trade and development. Although the channel of how productivity affects trade variety was articulated centuries ago, the other direction, how trade variety affects productivity, is less well understood. 

A standard monopolistic competition model (MC) in trade assumes goods are differentiable and varied. With this framework, economists are able to exposit how trade variety affects productivity from two effects: the input variety effect and the output variety effect.

Asian News

You can keep up-to-date with news from Asia through the Asia Pacific Foundation website. You can also see what Canada is doing to promote trade in the region. The Foundation has links and summaries of the latest news from a number of prominent Asian newsrooms. It’s a great source of information if you are thinking about expanding your efforts in global trade.

Trade Resources

Evaluating a Foreign Supplier – courtesy of Export Development Canada.

Best Countries to Headquarter a Corporation

The export impact Export Development Canada (EDC) can help you confidently enter new markets, reduce financial risk, and grow your business

Investing & International Business

As part of growing your business, you may be considering exporting, importing and investing.  Find out what this means for you and your business.

Invest

Import

Export

Trade