Location Canada - A letter from the Government of Canada

Minister's Letter

Canada's economy has remained strong, even in the face of challenges. For the seventh year in a row Canada will have a budgetary surplus, and private-sector economists forecast next year's growth to be around 3 percent, among the best performers of the G7.

Canadians enjoy a superb quality of life where value is placed on multiculturalism, one of the best public healthcare systems in the world, and access to world-class education. This outstanding quality of life attracts skilled workers to major urban centers across the country where technology clusters are thriving in the fields of information and communications technology (ICT), biotechnology, pharmaceuticals, and agriculture. Investors benefit from access to vibrant research centers, world-renowned universities, and teaching hospitals.

The government of Canada knows that innovation is the key to a dynamic economy and keeping our competitive edge. Canada has committed to being among the top five countries in the world in R&D performance by 2010, and will continue to offer one of the best R&D tax credits in the G7. Canada spends more on education than any other country in the G7, according to the OECD, and has the highest percentage of postsecondary (tertiary) graduates among major industrialized countries.

Canada has unparalleled and direct access to the world's largest economy. Under NAFTA, Canada benefits from unfettered access to more than 400 million consumers, with a combined GDP of over US$11.4 trillion.

You would think that all of this would come with a high price tag. In fact, Canada enjoys the lowest business costs in the industrialized world according to a 2002 KPMG study, and the Economist Intelligence Unit has Canada ranked first as the best place to do business for the next five years.

Whether selling to the world, or as part of your North American supply chain, an investment in Canada is a smart investment. We invite you to read this issue of Location Canada and see why Canada's future is brighter than ever.

The Honourable James Scott Peterson
Minister of International Trade