There’s no doubt that 2011 will be a year filled with challenges for Canadian global businesses; a high Canadian dollar, increasing competition from the developing world, continued uncertainty and the threat of protectionism in our traditional export markets, and volatile oil prices will all play a role. Some even speculate that these factors could spell the end of globalization, but I believe the future will see a global economy that is more integrated, not less. There’s more than one way for companies to tap into the global economy.

That’s why I believe that 2011 holds a world of opportunities for Canadian businesses. While the global economy is still on shaky footing, the recovery is underway. And Canada is in a great position to take a leadership role in the recovery; our strong banking sector and federal fiscal position have allowed us to side-step some of the worst of the fallout from the credit crisis and ensuing recession, and now we have an opportunity to make investments that will serve us well as the recovery takes hold.

It is evident that, despite the obstacles they have faced over the last couple of years, some Canadian exporters are seizing this opportunity with both hands. EDC’s business volume in emerging markets increased by more than 32 per cent in 2010, with China, Brazil and India leading the way. This is encouraging, in part because Canadian companies need to diversify their export markets, but also because the type of transactions we saw last year indicate a longer-term interest in these markets.

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