In this informative Question and Answer article, Omar Allam, CEO and Global Chairman of the Allam Advisory Group trade-consulting firm, explores how Canadian exporting companies might be impacted by the French election. Building on Why should you care about France’s elections? and The French Election: What Exporters Need to Know, the article also discusses how CETA can help exporters expand within the EU.
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The success the National Front’s Marine Le Pen has had in the French election has forced exporters to re-evaluate their relationship with France, given that she has vowed to impose import duties, among other threats. With CETA being provisionally implemented July 1, what better time to diversify your export markets? International trade expert Omar Allam answers our questions.
Omar Allam, CEO and Global Chairman of Allam Advisory Group, is a former senior Canadian trade diplomat and former business executive with World Bank and UN experience.
If we’re looking at a Le Pen win, how does that scenario compare to others such as Brexit?
Would you say a Le Pen win is worse than Brexit for international trade?
And an Emmanuel Macron victory would be more business as usual?
Trade agreements make it easier for businesses to trade and invest in other countries. In this guide, we take a look at each of Canada’s free trade agreements and explain when and how you can use them to sell outside Canada.
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What risk-mitigation options should Canadian companies consider?
How can a strategy on diversification help protect one’s business when scenarios like this create uncertainty?
How can CETA help exporters expand within the E.U.?
What are the steps you can take to diversify?
Bottom line: if you don’t act now and diversify into new markets — you risk losing out on major business opportunities. Those who anticipate and address change and keep their organizations balanced and agile will be well positioned for continued success. Those who ignore challenges or delay action face the risk of failing their customers and stakeholders, with increasingly uncertain outcomes for their organizations.