New Brunswick Premier Susan Holt announced a market diversification strategy targeting almost 16% export growth to non-U.S. markets by 2030.
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New Brunswick Premier Susan Holt unveiled a new market diversification strategy aimed at expanding the province’s export markets outside the United States by almost 16 per cent by 2030.
The government announced the targets today in Dieppe, N.B., with a goal of increasing total exports to non-U.S. markets to $1.32 billion, up from $1.14 billion last year.
Asia and Europe were identified as the two main regions the province is targeting, and Holt said a trade mission to Cambodia and South Korea is planned later this month.
The diversification plan also includes support for export-ready businesses, additional trade missions and promotion, and a new growth office in the European Union.
Holt said the strategy is intended to strengthen New Brunswick’s ability to keep growing beyond a single market, adding in a statement, “New Brunswick has what the world wants. We can’t rely on one market, but we can support our businesses to seize new opportunities and build strong relationships with trading partners.”
The government also set a goal to boost trade with the rest of Canada by 61 per cent to $22.1 billion by 2029, while continuing efforts to lower provincial trade barriers and strengthen domestic supply chains.
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