International trade plays a vital role
in the development of Québec’s economy. On the one hand, exports represent
over 50% of its GDP and account for 30% of jobs. On the other, 24,6 % of
private investments are made by foreign companies. Over the past few years,
Québec has witnessed a decline of its exports on several markets. It
therefore needs to work toward consolidating the progress it has made in the
United States and Europe and ensuring the diversification of its economic
partners. Moreover, to maintain its place among the advanced and emerging
nations investing in R&D, the Government of Québec has established the goal
of attaining an R&D rate equivalent to 3% of GDP. To achieve this objective,
Québec will need to enhance its international research partnerships, attract
investments by offering researchers an appealing environment, and facilitate
obtaining world research mandates.
Lastly, although attracting foreign investments and
market development are fundamental to the vitality of Québec’s trade, they
will not have lasting effects unless Québec has an upcoming generation of
entrepreneurs and a skilled labour force capable of working in an
increasingly international environment. This labour force challenge will be
at the forefront over the coming years. In order to stay in the race, Québec
will therefore need to take steps with regard to immigration, training,
knowledge, and innovation.
To achieve this goal, the Québec Government will centre
its initiatives on three priorities:
Priority
Strengthen and increase economic exchanges with the
United States and Europe, and diversify trade by branching out to certain
expanding markets:
Key Initiatives
- In the United States, Québec will concentrate its
efforts on four sectors in particular: trade, security, energy, and the
environment. It will especially strive to work with Eastern Seaboard and
Mid-West states to develop cross-border partnerships and identify
normative and regulatory obstacles that impede trade. Additionally,
Québec will increase its economic presence in Washington and Atlanta.
- In Europe, Québec will seek to develop business
opportunities in five high potential sectors in Western European
countries (aerospace technology, construction, life sciences,
information and communication technologies, and the environment). It
will take advantage of the new opportunities afforded by European
expansion and support businesses in adapting their products to European
standards.
- To diversify its export markets, Québec will
concentrate its efforts on five expanding markets where it will step up
its presence and target its initiatives: Mexico, Japan, China, India and
Brazil. To increase the likelihood that businesses succeed in these
markets, support will focus particularly on facilitating project
start-ups and mergers.
- New
initiatives will also aid export businesses and attract investments:
-
Support for exporting Québec’s expertise and know-how by encouraging the
development of an integrated offer in key sectors and by collaborating
with the École nationale d’administration publique (ÉNAP) to create a
centre for the international promotion of Québec expertise.
-
A new strategy for promoting and prospecting foreign investments.
-
Measures for helping Québec’s companies set up operations abroad with
the aim of increasing sales and developing business partnerships.
-
Support for regions that have adopted an integrated international action
plan, particularly for developing their niches of excellence.
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Priority
Make knowledge, innovation, and education core
elements of international initiatives:
Key Initiatives
- Increase funding allotted to international research
partnership development and attracting foreign researchers.
- Intensify and better coordinate the international
promotion of Québec’s educational opportunities, in collaboration with
universities.
- Restructure tuition exemption scholarship programs
for foreign students to attract more candidates to university
postgraduate programs and a greater number of students to college-level
technical programs.
- Develop an integrated public offering with regard to
education services in order to support educational reforms and the
development of education systems, with special emphasis on emerging
countries.
- Expand international internship opportunities for
young people and increase support for youth entrepreneurship projects
abroad.
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Priority
Attract more qualified immigrants and facilitate their
integration into economic life:
Key Initiatives
- Improve the recognition of foreign academic degrees
and qualification by concerted actions between Québec government,
professional orders and institutions of higher learning.
- Target promotional and recruitment efforts abroad
based on Québec’s identified labour needs, with special emphasis on the
priority areas of Latin America, and Eastern and Western Europe.
- Increase the number of prospective business
immigrants invited for an exploratory visit to Québec.
- Increase the number of foreign partners in French
language education to enable immigration candidates to begin their
linguistic training before arriving in Québec.
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