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Access to the North American Market: New Opportunities and Government Support

30/ 01/ 2018
  Author: Ihor Baranetskyi, Ph.D., Counselor at the Directorate General for the Americas of the Ministry of Foreign Affairs of Ukraine coordinates the whole range of issues related to bilateral economic, trade and investment relations with the USA and Canada Urgent need to diversify exports, open new markets, search for FDI and affordable financial resources force Ukrainian business to uncover lucrative ways of cooperation with the USA and Canada. There are objective and hidden barriers or deterrents within the existing and potential opportunities of the North American market. Ukrainian business must have comprehensive understanding not only about the risks and real possibilities of establishing mutually beneficial contacts with American and Canadian businesses, but also to focus on existing instruments of Government support, in particular from the Ministry of Foreign Affairs of Ukraine and our embassies. At first glance, it would seem that the United States and Canada have the similar markets. However, they differ a lot from both business and government perspective, strategy and interaction with external markets. Canada today is an example of liberalism and a leader of globalization, in particular, with regard to new FTAs, including with Ukraine. On the opposite side – the US shows dragging to protectionism. Ukrainian business should take into account the features of Trudos foreign policy, including the unique Canadian International Feminist Policy, and Trumps pragmatic approach to protecting the domestic market and attempts to return production to the United States. The American experience of economic diplomacy and Canadian flexibility in promoting their business interests can be of great value for Ukrainian business community. Within the information tsunami about different consulting, legal and mediation services provided to Ukrainian companies remains unseen the role of Ukrainian embassies as important partners in export promotion, finding business partners, attracting investments and resolving cases on external markets. Numerous examples of support to national business regardless of size, profile and affiliation, various types of government support, success stories and cases give an idea of ​​opportunities for mutually beneficial cooperation and synergy. The positive dynamics of economic recovery and the prospects for further development of trade and investment cooperation with the US and Canada stimulate Ukrainian business to discover available opportunities, tools and attractive niches. Anti-dumping restrictions, regulatory measures in the financial and banking sector, access to high-tech products, FTA with Canada, the US Generalized System of Preferences and IPR protection issues are of great interest to largest players on the market and industrial giants, as well as to middle-sized producers of IT services and organic products. Interaction in the B2G and B2G formats is always a movement in both directions. Business has to understand the real limits and available ways of effective cooperation with an embassy, ​​and an embassy has to timely inform, insure and push the business, while being transformed from observer and controller to facilitator. It is remarkable that the priority areas of cooperation with the United States and Canada are fully in line with the national interests of Ukraine and the competitive advantages of national business. Those priorities cover IT, energy, engineering, agriculture and food industry, aerospace and defense industries, high-tech and R&D. In this regard, business owners and managers of Ukrainian companies have to be well equipped with accessible tools (including lobbying and GR-communications, understanding the role of the U.S. Export-Import Bank and the OPIC, and effectively using Canadian assistance programs and USAID projects) and ideas for objective assessment of opportunities in order to promote their products and services to the U.S. and Canadian markets.

Author: Ihor Baranetskyi, Ph.D., Counselor at the Directorate General for the Americas of the Ministry of Foreign Affairs of Ukraine coordinates the whole range of issues related to bilateral economic, trade and investment relations with the USA and Canada

Urgent need to diversify exports, open new markets, search for FDI and affordable financial resources force Ukrainian business to uncover lucrative ways of cooperation with the USA and Canada. There are objective and hidden barriers or deterrents within the existing and potential opportunities of the North American market. Ukrainian business must have comprehensive understanding not only about the risks and real possibilities of establishing mutually beneficial contacts with American and Canadian businesses, but also to focus on existing instruments of Government support, in particular from the Ministry of Foreign Affairs of Ukraine and our embassies.

At first glance, it would seem that the United States and Canada have the similar markets. However, they differ a lot from both business and government perspective, strategy and interaction with external markets. Canada today is an example of liberalism and a leader of globalization, in particular, with regard to new FTAs, including with Ukraine. On the opposite side – the US shows dragging to protectionism. Ukrainian business should take into account the features of Trudo’s foreign policy, including the unique Canadian International Feminist Policy, and Trump’s pragmatic approach to protecting the domestic market and attempts to return production to the United States. The American experience of economic diplomacy and Canadian flexibility in promoting their business interests can be of great value for Ukrainian business community.

Within the information tsunami about different consulting, legal and mediation services provided to Ukrainian companies remains unseen the role of Ukrainian embassies as important partners in export promotion, finding business partners, attracting investments and resolving cases on external markets. Numerous examples of support to national business regardless of size, profile and affiliation, various types of government support, success stories and cases give an idea of ​​opportunities for mutually beneficial cooperation and synergy.

The positive dynamics of economic recovery and the prospects for further development of trade and investment cooperation with the US and Canada stimulate Ukrainian business to discover available opportunities, tools and attractive niches. Anti-dumping restrictions, regulatory measures in the financial and banking sector, access to high-tech products, FTA with Canada, the US Generalized System of Preferences and IPR protection issues are of great interest to largest players on the market and industrial giants, as well as to middle-sized producers of IT services and organic products.

Interaction in the B2G and B2G formats is always a movement in both directions. Business has to understand the real limits and available ways of effective cooperation with an embassy, ​​and an embassy has to timely inform, insure and push the business, while being transformed from observer and controller to facilitator.

It is remarkable that the priority areas of cooperation with the United States and Canada are fully in line with the national interests of Ukraine and the competitive advantages of national business. Those priorities cover IT, energy, engineering, agriculture and food industry, aerospace and defense industries, high-tech and R&D. In this regard, business owners and managers of Ukrainian companies have to be well equipped with accessible tools (including lobbying and GR-communications, understanding the role of the U.S. Export-Import Bank and the OPIC, and effectively using Canadian assistance programs and USAID projects) and ideas for objective assessment of opportunities in order to promote their products and services to the U.S. and Canadian markets.

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