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PROVINCE’S INTERNATIONAL OUTCOMES EXCEEDING EXPECTATIONS FOR Q3

Posted by: Regina Chamber Admin - January 15, 2024

FROM TRADE & EXPORT DEVELOPMENT

Saskatchewan continues to tell its story on the global stage, which has led to a host of new trade partnerships and opportunities for the province in the third quarter of the 2023/2024 fiscal year.

“We are very proud of our companies here in Saskatchewan and the work they do in providing sustainable energy solutions, resources, commodities and food to every corner of the planet,” Trade and Export Development Minister Jeremy Harrison said in a recent news release. “Through the government’s ongoing international engagement, we are continuing to see the expansion of our products into new markets. These efforts also attract significant investments into our local economy, which create jobs and opportunities in communities across the province. Last year, we exported over $50 billion worth of products around the world. This means prosperity here at home with over 22,000 new jobs created in the last year. The two are directly linked and that’s why we’re going to continue to work hard to engage and create opportunities around the globe.”

This quarter has been especially productive for the province in terms of international missions. Saskatchewan’s international office network facilitated 22 trade and investment missions, including visits to Singapore, the Philippines, and the COP 28 climate summit in Dubai. These undertakings have set the stage for exciting economic developments that positively impact Saskatchewan’s economy now and into the future.

“Economic Development Regina (EDR) has been pleased to partner with the Government of Saskatchewan on multiple inbound hosting and outbound international missions in Q3, including London, Warsaw, and most recently COP 28 in Dubai,” EDR President and CEO Chris Lane said. “This important work has elevated Saskatchewan’s and Regina’s profile on the international stage, paving the way for new opportunities and economic growth.”

During the province’s successful mission to COP 28, a number of partnerships were announced. A memorandum of understanding (MOU) formalized cooperation between the Government of Saskatchewan and German biotechnology giant Bayer. This MOU allows the two parties to jointly develop sustainable agriculture technologies and practices, which will ultimately lead to lower greenhouse gas emissions in farming.

Other partnerships include the signing of letters of intent (LOI) between several Saskatchewan organizations, including the Saskatchewan Research Council, the University of Regina, and the Petroleum Technology Research Centre, with Khalifa University of Science and Technology in Abu Dhabi. These partnerships highlight why Saskatchewan continues to be a global leader in sustainable agriculture and energy solutions.

On the labour recruitment front, Saskatchewan continues to show its commitment to attracting the best global talent. The most recent labour recruitment mission to the Philippines led to 1,400 job interviews and over 39,000 job applications, as well as over 1,000 anticipated nominations for permanent residency through the Saskatchewan Immigrant Nominee Program.

Saskatchewan’s Vietnam office supported education fairs and events on behalf of the Ministry of Advanced Education in Vietnam that welcomed over 6,000 people and saw participation from the University of Saskatchewan, the University of Regina, and Saskatchewan Polytechnic.

“The Saskatchewan Chamber of Commerce is pleased to see the successes stemming from the Government of Saskatchewan’s international engagement strategy,” Saskatchewan Chamber of Commerce CEO Prahba Ramaswamy said. “Saskatchewan’s commitment to fostering international partnerships not only creates more opportunities for our members and businesses on the global stage, but also positions Saskatchewan as a leader in sustainable agriculture and energy solutions. Additionally, the commitment to attracting global talent to address our labour market needs is both strategic and encouraging. These achievements reinforce our optimism about the continued growth and success of businesses in our dynamic landscape.”

Right here at home, the City of Regina played host to the 2023 Pacific Northwest Economic Region Economic Leadership Forum. The event brought together local, provincial, and state leaders in both public and private sectors to carry out in-depth discussions on key subjects affecting our regional economy. During the summit, regional partnerships were strengthened which will contribute to Saskatchewan’s stable business environment for generations to come.

The province’s economy has remained strong this quarter, as can be seen in the most recent export numbers. More than $1 billion in goods were exported to eight separate markets this year, with a total of $41.3 billion being exported as of October 2023.

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