Canada-Italy Relations Presentation - Embassy of Canada

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. Export Market Development

2. Market Access

3. Technology Partnering

4. Investment in Canada

5. 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)

Canada-Italy Commerce

Trade Commissioner Service

Doing Business in Canada

How we can help

CANADA & ITALY Economic Snapshot - 2011

CANADA ITALY

Population 34.7 m 59.5 m

GDP (trillion $US) $1.7 $2.3

GDP per capita ($US) $50,436 $36,267

GDP growth rate (%) 2.1% -1.9%

Inflation 2.0% 3.3%

Unemployment 7.3% 9.8%

Source: ISTAT Source: StatsCan, IMF

CANADA & ITALY Trade

2011

Canadian Exports $1.97 billion

Canadian Imports $5.1 billion

Canadian Merchandise Exports • Cereal ($356 m) • Mineral Fuel, Oil ($280m) • Machinery ($231m) • Wood pulp ($225m) • Ores, slag, ash ($101m)

Canadian Merchandise Imports

• Machinery ($1.24b) • Beverages ($465m) • Pharmaceuticals ($402 m) • Vehicles, parts, motors ($268) • Electrical Machinery ($198 m)

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.

Doing Business in Canada

Trade Commissioner Service

Canada-Italy Commerce

How we can help

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

10th

9th

8th

7th

6th

5th

4th

3rd

2nd

1st

Canad

a

New Z

ealan

d

Hong K

ong

Irelan

d

Denmar

k

Singap

ore

Sweden

Norway

U.K.

U.S.A

.

Ran

k

Canada is acclaimed for its superior

business climate…

Source: Forbes Publishing

October 2011

COMPETITIVE ADVANTAGES

Canada offers an overall tax advantage for firms to expand

International Comparison of Statutory General Corporate Tax

Rates in 2012

25.026.0

27.5

30.2

34.4

37.939.2

10

15

20

25

30

35

40

45

U.K. Canada Italy Germany France Japan U.S.

%

• 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.

Source: Finance Canada, April

2012

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.

• Canada provides a system of tax credits and accelerated tax deductions for a wide-variety of R&D expenditures.

• Eligible costs include: salaries, overhead, capital equipment, and materials.

• These tax-based treatments permit firms to significantly reduce R&D costs through direct investment or sub-contracting in Canada.

Relative Generosity of

R&D Tax Treatments*(Index: Canada = 100.0)

76.1

77.0

80.6

84.0

85.9

100.0

123.9

50 60 70 80 90 100 110 120 130

Germany

Italy

U.S.

U.K.

Japan

Canada

France

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

How we can help

Trade Commissioner Service

Canada-Italy Commerce

Doing Business in Canada

HOW WE CAN HELP

• 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

WE ARE PART OF A NETWORK OF CONTACTS AROUND THE WORLD

CONTACT US Embassy of Canada Emmanuel Kamarianakis

Via Salaria, 243

00199 Rome

Tel: 06-85444.3351 / 3363

Email: [email protected]

______________________

For more information, visit our websites:

www.tradecommissioner.gc.ca/it

www.investincanada.gc.ca

www.italy.gc.ca