Western Economic Diversification Canada
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Sub-program 1.1.1: Trade, Investment and Market Access

Description

Trade, Investment and Market Access focuses on increasing Western Canada's participation in global markets, increasing awareness of Western Canada's technology capabilities abroad and attracting new foreign investment to support access to and participation in global value chains. It strives to strengthen trade-related infrastructure to enhance trade flows in and out of Western Canada and promotes Western Canada as an attractive destination for international tourists, students, researchers and investors. Transfer payments in support of this sub-program are made under the authority of the Western Diversification Program.

 

Budgetary Financial Resources (dollars)
2014-15
Planned Spending
2014-15
Actual Spending
2014-15
Difference
(actual minus planned)
19,627,047 14,638,761 (4,988,286)

Note: Actual spending is lower than planned primarily due to more project approvals in other priority areas following comparative analysis of all proposals received.

 

Human Resources (FTEs)
2014–15
Planned
2014–15
Actual
2014–15
Difference
(actual minus planned)
34 28 (6)

 

Performance Results
Expected Result Performance Indicators Targets Actual Results
Capacity of western clients to pursue international business opportunities or attract international visitors Number of western SMEs and other organizations pursuing a new trade, investment or international research and development opportunities, as a result of global advisory services 250 346
Capacity to support the flow of goods and services in/out of Western Canada Value of improvements to trade infrastructure $1 million $0
International awareness of trade, investment and tourism opportunities, and SME technology capabilities in Western Canada Value of international business leads generated through missions/events $57 million $60.4 million

 

Performance Analysis and Lessons Learned

WD tracks three indicators to capture the impact of the Trade, Investment and Market Access sub-program: number of western SMEs and other organizations pursuing a new trade, investment or international research and development opportunities, as a result of global advisory services; value of improvements to trade infrastructure; and value of international business leads generated through missions/events.

WD met or exceeded its targets for two of the three performance indicators related to the Trade, Investment and Market Access sub-program (see Performance Results table above).  The positive variance for one of the indicators, number of western SMEs and other organizations pursuing new trade, investment or international research and development opportunities as a result of global advisory services, is due to four projects reporting results earlier than forecasted. The negative variance for one of the indicators, value of improvements to trade infrastructure, is due to a project that was included in the target setting exercise but was not approved; there was only one other project related to this indicator which had not forecasted any results for 2014–15.

In 2014–15, WD approved $18.6M in funding for 17 Trade and Investment projects out of $46.2M in total project costs. The projects approved responded to all three Trade and Investment priorities, including increasing the capacity of western SMEs to enter international markets, enhancing western trade corridors, and raising the international awareness of western Canadian goods, services and technologies. All of the projects aligned with the Government of Canada's Global Markets Action Plan.[xi] For the second WDP  intake, the Department refined its parameters, providing more concrete examples of its support for Trade and Investment to enhance clarity and understanding of its objectives and to strengthen communication with western stakeholders.