Saskatchewan Trade and Export Development Minister Jeremy Harrison is leading a delegation on a trade trip to Germany this week.
Harrison’s visit is to officially open the province’s latest trade office in Berlin, as well as explore further trade opportunities.
“Germany is a manufacturing powerhouse and the fourth largest economy in the world,” Harrison said in a news release. “Setting up this office will provide exporters and investors with increased support to further navigate business opportunities and increase trade. Saskatchewan’s economy relies on trade, exporting approximately 65 per cent of everything we produce. By enhancing our international presence, we are increasing exports and attracting new investment, which is creating jobs and strengthening Saskatchewan communities.”
The province says the delegation includes Saskatchewan commodity and agri-food exporters, as well as the Saskatchewan Trade and Export Partnership (STEP) and Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy.
“Saskatchewan exporters shipped $1.25 billion in agricultural products to the EU in 2022,” STEP CEO Chris Dekker said. “STEP members are looking to maximize their profile and increase sales while taking full advantage of the new opportunities provided by Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the new international offices.”
“Our member businesses benefit from access to markets beyond Canada, boosting their profits, and enhancing job creation,” Ramaswamy said. “By engaging in global trade, Saskatchewan can stimulate economic activity and growth, leveraging our abundant resources to generate export revenue and attract foreign investments. With its strong manufacturing sector, emphasis on agri-food, agri-technology, and technology in general, Germany has the potential to be a very lucrative market for Saskatchewan businesses.”
Last year, the top 3 export products to the European Union were potash ($760.4 million), wheat ($587.5 million), and uranium ($409.2 million).
The province also says its merchandise exports to the EU “increased by nearly 47 per cent from $1.8 billion in 2021 to $2.6 billion in 2022.”
Saskatchewan has other trade offices in China, India, Japan, Mexico, Singapore, the United Arab Emirates, the United Kingdom and Vietnam.