Excerpts From The Globe and Mail Sept 16 2010 Article by Jeremy Torobin

"Tremendous Opportunity for Canadian Firms"

Bank of Canada Governor Mark Carney, speaking to The Globe and Mail’s editorial board, said the need for “decoupling” from the U.S. and other advanced economies provides a “tremendous opportunity” for Canadian firms – if they’re ready and willing to take advantage.

“We’ve moved to a multipolar world in terms of economic power, and this is not a temporary shift,” Mr. Carney said. “It doesn’t for everyone mean that we’re going to have an opportunity to sell in Brazil, India, China necessarily. But it does mean that elements of the supply chain in which every business operates will change, so understanding that better is going to be important.’’

Many Canadian companies have made strides to find new customers in faraway corners of the world. But around 70 per cent of the country’s sales abroad are still shipped south of the border.

The need to push into new markets “is ultimately a good thing for Canada,” Mr. Carney said, “because it gives us diversification and it builds on some of our strengths, from the cultural side to just our geography, which is quite helpful.”

However, succeeding in the new climate will “take a substantial reorientation for all Canadian business,” and “everybody, from government to small business, has to think through what its potential implications are,” he said.

Mr. Carney's comments reflect exactly what TISA has been doing for the past 4 years: working to help Canadian businesses find and develop new international markets, reduce their reliance on traditional partners and to tap into new growth opportunities. Thank you Mr. Carney!

For the text of the full article click here.