Content page
From [Institution name]
Speaking Notes
Appearance before the Standing Committee on International Trade
Daryell Nowlan
Vice President, Policy, Programs and Communications
Atlantic Canada Opportunities Agency
Tuesday, February 6, 2024
4:00 p.m. (Eastern) / 5:00 p.m. (Atlantic)
In-person appearance
Ottawa, Ontario
Check against delivery
Reading time: 5 minutes (approximately 600 words for opening remarks)
Introduction
Madam Chair.
Members of the Standing Committee on International Trade.
My name is Daryell Nowlan, and I am the Vice President of Policy, Programs and Communications at the Atlantic Canada Opportunities Agency – or ACOA.
I am pleased to join you in person – here in Ottawa – and respectfully acknowledge that we are on the traditional unceded territory of the Algonquin Anishnaabeg (Aw-neesh-aw-naw-bey) people.
Thank you for the invitation to appear and to speak about the work that ACOA does on the ground to support Atlantic Canadian businesses in supply chains and global markets.
For 37 years, ACOA has worked closely with small- and medium-sized businesses and organizations in the four Atlantic provinces.
One of our greatest strengths is our presence throughout the Atlantic region.
We have employees working in over 30 communities, ranging from large cities to small rural, coastal, and remote municipalities.
ACOA works closely with federal, provincial, and local partners to identify priorities and opportunities to maximize the potential of our region in a strategic and sustainable manner.
Atlantic Canada’s Economy
Now, some context on Atlantic Canada’s economy.
Atlantic Canada is experiencing strong momentum, reaching heights not seen in 60 years.
Halifax and Moncton are the fastest growing cities in Canada, and population growth and the transition to clean energy are creating significant investment opportunities.
This momentum positions the region uniquely to tap into new markets, participate in global supply chains, and attract investments.
Currently, exports comprise over 30 percent of the region’s GDP, with traditional sectors like food and seafood contributing significantly to the economy.
In 2022, the Atlantic provinces marked record export growth, surging 22% higher than pre-pandemic levels. Notably, fish and seafood exports alone were worth $6.17 billion representing 72% of the Canadian sector.
The United States continues to be the dominant export market, representing 70 % of total exports in 2022.
Market Diversification
Despite the region’s momentum, recent global disruptions, and economic challenges, such as geopolitical conflicts and labour shortages, have highlighted the vulnerability of global supply chains.
Atlantic Canada’s concentration on resource-based industries and its small internal market make it particularly vulnerable to these shocks.
Emerging sectors like energy and technology-intensive industries present growth opportunities, but diversification is crucial.
Tools and Measures to Support Market Diversification and Supply Chain Development
ACOA has implemented tools and measures to support market diversification and supply chain development.
In 2016, the Government of Canada, with ACOA as the lead and Global Affairs Canada supporting, entered a formal partnership with Atlantic provincial governments, and together created the Atlantic Growth Strategy. This Strategy laid the foundation for initiatives like the Atlantic Trade and Investment Growth Strategy – or ATIGS.
Supported by a five-year $20-million Atlantic Trade and Investment Growth Agreement – or ATIGA, ATIGS aims to increase internal business and attract foreign direct investment.
A signature ATIGA initiative is the Market Entry Development Program, providing in-market support to companies looking to enter export markets in Europe and the Indo-Pacific region.
From the implementation of the ATIGS to present, a total of 151 projects have been approved under the ATIGA for total contributions of approximately $31.2 million.
In addition, through ACOA’s Regional Economic Growth through Innovation (REGI) program, we are helping firms in technology adoption, productivity improvement, product commercialization, and increased export capacity.
As well, ACOA advocates for Atlantic firms to be considered in national policies and programs.
For example, collaborating with Transport Canada on the Green Shipping Corridors Program, we are supporting the development of green supply chains.
Conclusion
Madam Chair and members of the committee, I appreciate the opportunity to shed light on ACOA's pivotal role in bolstering Atlantic Canada’s businesses in supply chains and global markets.
I will be happy to answer your questions.