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Waterloo EDC Blog

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Risk: Stability and Freedom

Posted by Waterloo EDC on July 8, 2021

This article is part of our "Understand the Risk" series, which looks at business risk with comparative data. Articles in this series cover natural hazards, infrastructure, economic competitiveness, stability and freedom, talent and workforce and health.

Canada is a country where stability is a key part of our brand promise.

Sometimes that stability can come across as boring, but when choosing a location for your business, we think it makes Canada and Waterloo the right choice.

In this edition of our “Understand the Risk” series, we’re taking a closer look at trade, travel and government stability, and how they help your company minimize risk.

Trade and travel

Access to international markets is critical for your business and Canada’s economy. Our federal government has the institutions and agreements to ensure low risk for international trade and travel.

In North America, Canada is part of the recently signed Canada-United States-Mexico Agreement (CUSMA) that replaced NAFTA. The agreement continues to make trade and business travel between Canada, the US and Mexico fast and simple.

Beyond North America, Canada is the only G7 member country with free trade agreements in place with every G7 country. Canada has access to markets in Oceania with the Comprehensive and Progressive Agreement for TransPacific Partnership (CPTPP). The agreement provides access to Australia, Japan, New Zealand, Singapore and Vietnam.

Our nation has a long history of trade with European Union member countries. With the U.K. leaving the European Union, free trade will continue unabated with the new UK-Canada Trade Continuity Agreement coming into effect this year.

Hassle-free trade is key to Canada’s success, which is why you won’t find any country with a more comprehensive trade network.

Government stability

From the US leaving NAFTA and the Paris Climate Accords, to Brexit in the UK, government decisions in the US and UK have caused many businesses to rethink their office location decisions.

Our federal, provincial, and local governments have a well-earned reputation for transparency, predictability, and fairness in Canada. We rank higher than the U.S., U.K., and China regarding the rule of law, government effectiveness and overall political stability.

Political Stability Comparison Chart*Index information collected from www.theglobaleconomy.com

In terms of rights and freedoms, Canada also tends to come out near the top of various indexes.

Rights and Freedoms Comparison Table*Index information collected from www.theglobaleconomy.com

Canada might have boring politics – but boring means lower risks for your office relocation or international expansion.

 

Want to learn more right now? We offer in-depth Waterloo Region Risk Profiles for manufacturing and tech. Download yours now:

Download the Comparative Risk Profiles Now

 

Topics: tech, technology, manufacturing, talent, business, artificial intelligence, R&D