Canada wants to diversify a trade with German in the middle of US tariff threats – National

Canadian companies and diplomats work with their European counterparts to find ways to diversification of trade because now it is threatened to impose steep tariffs.

“We want to be part of a solution, in terms of creating new business opportunities and trade diversification,” said Tjorven Bellmann, German Ambassador to Canada.

She spoke at a journalist briefing on Wednesday ahead of Hannover Messe, the largest in the world trade fair. It is an annual event in Germany, and Canada is a partner country this year.

“It is a truly timely opportunity, given the geopolitical circumstances and all the discussions here in the country on the need to diversify the trade,” Bellmann said.

She said she was one of the European ambassadors in Ottawa who spoke with each other with corporations, researchers and government officials on both sides of the Atlantic about ways to strengthen the store.

Bellmann said there was a great interest in capitalizing the trade agreement that was signed by Canada and the European Union in 2017 – a comprehensive economic and trade agreement known as Ceta.

“I ask the interlocutors across the Canada I meet with – how can we make a four more more operational?” she said.

“Both sides have to work on recognizing opportunities.”

She said that Canadian universities play a big role in increasing the store, because both countries look forward in fields like green energy and quantum calculation.

Liberal MP Ryan Turnbull said Canada viewed Europe as a counterbalance because US President Donald Trump threatens to impose harmful tariffs Canada and her European partners.

“An increase in protectionism and () economic uncertainty that brings us, shake us up,” said Turnbull, who is the parliamentary secretary of the Minister of Industry.

“I think that the geopolitical tensions we currently experience do this is timely in terms of the possibility that Canada is used to strengthen the diverse set of relationships that will make us more resistant in the future.”

Bellmann said that the Hannover Messe Fair brings about 130,000 personal persons, such as engineers and executives, together with 4,000 exhibitors from 156 countries.

During his visit to 2022 to Newfoundland to sign a Canadian hydrogen import agreement, German Chancellor Olaf Scholz announced that Canada would take the central stage at this year’s event.

Since then, Canada’s industry has taken care of Canadian corporations and possible partners on several continent to lay the foundations for contracts that will be signed in Hannover Messe.

Canadian companies will have a prominent physical space at the fair and will help run various sessions.

They include EUREKA Summit on research projects aimed at commercialization; Canada will be the first non -European country to keep that session Kopedi. Canada joined the EU EU research fund at the end of 2023.

Stéphane Lessard, acting director of the European Affairs Director at Global Awards Canada, said that Germany shares values ​​with Canada that “challenged around the world”, and Ottawa seeks partnerships on innovation and research that have longer time goods than goods trade.

“Canada is looking for friends who share our values, so this is really important,” he said.

Jayson Myers, head of Next Generation Manufacturing Canada, said he had gone to the event in previous years and saw that a Canadian company was getting a five million dollar investment on the spot.

“It is an opportunity for Canadian companies to meet with new suppliers, new innovation partners, to see what is the leading edge,” said Myers, whose group runs one of the five innovation clusters in Ottawa.

“These discussions are much more important than ever.”

He said Canadian companies want to partners with companies that use artificial intelligence, quantum technology and robotics to improve their products, especially in the German large car and machinery sector.

Myers said he was pleasantly surprised when several companies withdrew from the Canadian delegation since Tariff Trump started. He said that almost 250 companies send approximately 280 delegates, along with 1,000 Canadian participants.

Earlier this month, the German diplomatic mission and trade agency announced a joint statement with the Canadian-German Chamber of Industry and Trade, saying Berlin wants more stores and investments with Canada.

He noted that bilateral trade endured throughout the Coid-19 pandemia and there is a “improvement space”. “We do not exploit the full potential of CETA,” the statement reports.

Bellmann said Trump’s trade threats are not harmed by German investment in Canada, but corporations are waiting for more security elsewhere.

“There are not many investment decisions at the moment, which is why we regret,” she said, adding that the EU is ready to impose retaliation of tariffs, but hopes Trump’s administration will reduce.

“We do not believe that we should start dividing the world into mutual tariff obstacles and tariff threats.”

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