Stewart Beck was responsible for Canada’s international business development, investment and innovation programs and is a former Canadian high commissioner to India. He recently retired as president and CEO of the Asia Pacific Foundation of Canada.
The collapse of the U.S. manufacturing sector has revitalized and now institutionalized the America First protectionist mantra. Many U.S. politicians have seized upon this and weaponized an anti-free-trade movement. Canada’s best trading partner has shifted sharply to a transactional, what’s-best-for-me attitude.
But Asia is a big place with many countries with large populations, young demographics and higher economic growth rates than ours. What is Canada doing to capitalize on its strengths and diversify its interests?COVID-19 Large Canadian corporations such as the Brookfield companies, Fairfax Financial Holdings Ltd., Bombardier Inc., Sun Life Financial Inc., McCain Foods Ltd., Teck Resources Ltd. and CPP Investments are making significant investments in India. They do this only because they see superior opportunities. Canada’s politicians talk about expanding commercial relations with India and, in speech after speech, all the right things are said.
The same is true for food. Yes, we are the major supplier of pulse crops to India, but they are commodities, bought and sold through the global trading system. How we support our pulse exporters is and should be different from how we support companies that provide solutions in critical areas such as water – a scarce resource in India – or precision agriculture, which will increase the efficiency and output for the 750 million people in India who depend on farming for a living.
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