Business with Canada

Canada-Italy Relations

presentation by

EMMANUEL KAMARIANAKIS Minister Counsellor EMBASSY OF CANADA
Milan, 29 May 2012

AGENDA
• • • • Trade Commissioner Service Canada-Italy Commerce Doing Business in Canada How we can help

Trade Commissioner Service
DELIVERING VALUE TO BUSINESSES
Building Prosperity for Canada through International Business with Italy

We facilitate: 1. 2. 3. 4. 5. Export Market Development Market Access Technology Partnering Investment in Canada Investment in Italy

Canadian Embassy in Italy
• 90 Employees • 2 offices in Rome • Embassy’s main sections: Commercial, Political, Public Affairs, Immigration, Consular • The embassy covers the countries of Albania, Malta, and San Marino.

• Commercial Division:
11 team members including:  1 located in Milan  1 Investment Specialist  1 Innovation Specialist  Sector officers in priority sectors (A&D, Agrifood, Automotive, ICT, Life Sciences, Renewable Energy)

Trade Commissioner Service

Canada-Italy Commerce
Doing Business in Canada

How we can help

CANADA & ITALY
Economic Snapshot - 2011
CANADA Population GDP (trillion $US) GDP per capita ($US) GDP growth rate (%) Inflation Unemployment 34.7 m $1.7 $50,436 2.1% 2.0% 7.3%
Source: StatsCan, IMF

ITALY 59.5 m $2.3 $36,267 -1.9% 3.3% 9.8%
Source: ISTAT

CANADA & ITALY
Trade
2011 Canadian Exports Canadian Imports $1.97 billion $5.1 billion Cereal ($356 m) Mineral Fuel, Oil ($280m) Machinery ($231m) Wood pulp ($225m) Ores, slag, ash ($101m) Machinery ($1.24b) Beverages ($465m) Pharmaceuticals ($402 m) Vehicles, parts, motors ($268) Electrical Machinery ($198 m)

Canadian Merchandise Exports • • • • • Canadian Merchandise Imports • • • • •

CANADA & ITALY
Italian Investments in Canada

CANADA & ITALY
Canadian Investments in Italy

CANADA & ITALY
S&T Relationship
• In 2007, the Embassy and the Italian government launched Tavolo Canada, a joint initiative to increase Italy-Canada innovation partnerships in priority sectors. • Tavolo Canada’s 6 priority innovation sectors are: Health & Life Sciences, Energy & Environment, New Materials for Transportation, Nanotechnology & ICT, Agrifood and Ocean Technologies. • The Embassy focuses on promoting partnerships and linkages between Italian and Canadian research organizations, universities, clusters and industry in Tavolo Canada sectors. • In 2008, the Embassy launched a “Talent Strategy” initiative under Tavolo Canada to match and partner leading Canadian and Italian research universities.

Trade Commissioner Service
Canada-Italy Commerce

Doing Business in Canada
How we can help

Canada is acclaimed for its superior business climate…
Open for business: Canada understands the importance of its business community and has created an environment to encourage its success. Canada is the best country in the world among the G-7 to do business over the next five years. Canada is the easiest place to start a business in the G7. The country also ranks high for its infrastructure, market opportunities, low taxes, and foreign trade and exchange controls.
Top Ten Countries to Conduct Business in 2011
1st 2nd 3rd 4th 5th 6th 7th 8th 9th 10th

Rank

Ca na da Ne w Ze ala nd Ho ng Ko ng

ar k Si ng ap or e

Sw ed en

No rw ay

Ire lan d

. U. K

De nm

U. S

.A .
Source: Forbes Publishing October 2011

COMPETITIVE ADVANTAGES
Canada offers an overall tax advantage for firms to expand
• Canada has the second lowest statutory corporate tax rate in the G-7 as of 2012. • In addition, Canada’s overall tax rate on new business investment is substantially lower than all G-7 countries.
International Comparison of Statutory General Corporate Tax Rates in 2012
45 40 35 30
%
30.2 25.0 26.0 27.5 34.4 37.9 39.2

25 20 15 10

Source: Finance Canada, April 2012

U.K.

Canada

Italy

Germany

France

Japan

U.S.

COMPETITIVE ADVANTAGES
Canada is a solid venue for innovation
• Canada benefits by having one of the best R&D tax treatments in the G-7. • Canada currently offers one of the most favorable tax treatments for R&D among the G-7.
Relative Generosity of R&D Tax Treatments*
(Index: Canada = 100.0)

France
100.0 85.9 84.0 80.6 77.0

123.9

• Canada provides a system of tax credits and Canada accelerated tax deductions for a wideJapan variety of R&D expenditures. • Eligible costs include: salaries, overhead, capital equipment, and materials.
U.K. U.S. Italy

• These tax-based treatments permit firms to 76.1 Germany significantly reduce R&D costs through direct investment or sub-contracting in 50 60 70 80 90 100 110 120 130 Canada. Source: Warda, Jacek, Innovation: Measuring Canada's R&D Tax Incentives:
May 22, 2009. Data unchanged as of January 2012.

COMPETITIVE ADVANTAGES
Direct Access to the NAFTA Market

CANADA’S ECONOMIC SUCCESS
• • • • •
• • • •

Highly-educated population and competitive workforce Wealth of natural resources Strength of its manufacturing and construction industries Health of the financial and service sectors Dynamic trade relationships with other nations, especially the US and negotiations with the EU, India, Japan Lower business costs and taxes Excellent place for research and innovation Ability to compete in a global marketplace A great place to live, study or work

Trade Commissioner Service
Canada-Italy Commerce Doing Business in Canada

How we can help

HOW WE CAN HELP
WE ARE PART OF A NETWORK OF CONTACTS AROUND THE WORLD • • • • • • Invest in Canada Bureau Other government departments (CFIA, CBSA) Export Development Canada (EDC) Canadian Commercial Corporation (CCC) Regional, Provincial, Municipal Offices Business and industry associations

CONTACT US
Embassy of Canada
Emmanuel Kamarianakis Via Salaria, 243 00199 Rome Tel: 06-85444.3351 / 3363 Email: ital-td@international.gc.ca ______________________
For more information, visit our websites: www.tradecommissioner.gc.ca/it www.investincanada.gc.ca www.italy.gc.ca

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