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Trade mission is an international trip by government officials and businesspeople that is organized by agencies of national or provincial governments for purpose of exploring international business opportunities. Business people who attend trade missions are typically introduced both to important business contacts and to well-placed government officials. A trade mission is a way in which countries or organizations can seek out potential buyers and sellers. Trade missions will usually occur after one party has undergone significant market research. In short, trade mission is a trip that is designed to transport business executives into a foreign business environment to achieve International business relationship. [ citation needed ]
Several factors are needed to be considered whenever a business executive is trying to join a trade mission. [1] Clearly stating the goal of trade mission before the departure is important. Choosing the target industry and the participants is a crucial aspect. Executives have to analyze the costs and possible future benefits of trade mission. Careful evaluation of the agenda is required. Target audience should be decided upon actual trade mission.[ citation needed ]
Trade missions are supposed to be about developing trade opportunities. However, when government agency is involved, there is controversy regarding international politics being involved. Trade mission might not be conducted targeting particular industry or actual companies which won't be about developing international trade but international politics.[ citation needed ]
In Canada, trade missions which include both the federal and provincial governments working together (perhaps also with cities and private businesses) are called "Team Canada Missions"[ citation needed ]
UK sends British High commissions to India for trade missions. [2] UK's continuous efforts with India in having trade missions in both countries have brought huge economic benefits. [3]
The economy of Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023, and a nominal GDP of approximately US$2.117 trillion. Canada is one of the world's largest trading nations, with a highly globalized economy. In 2021, Canadian trade in goods and services reached $2.016 trillion. Canada's exports totalled over $637 billion, while its imported goods were worth over $631 billion, of which approximately $391 billion originated from the United States. In 2018, Canada had a trade deficit in goods of $22 billion and a trade deficit in services of $25 billion. The Toronto Stock Exchange is the tenth-largest stock exchange in the world by market capitalization, listing over 1,500 companies with a combined market capitalization of over US$3 trillion.
The following outline is provided as an overview of and topical guide to public affairs:
A non-governmental organization (NGO) is an organization that generally is formed independent from government. They are typically nonprofit entities, and many of them are active in humanitarianism or the social sciences; they can also include clubs and associations that provide services to their members and others. NGOs can also be lobby groups for corporations, such as the World Economic Forum. NGOs are distinguished from international and intergovernmental organizations (IOs) in that the latter are more directly involved with sovereign states and their governments.
A trade association, also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry. An industry trade association participates in public relations activities such as advertising, education, publishing, lobbying, and political donations, but its focus is collaboration between companies. Associations may offer other services, such as producing conferences, setting industry standards, holding networking or charitable events, or offering classes or educational materials. Many associations are non-profit organizations governed by bylaws and directed by officers who are also members.. Many associations are non-profit organizations governed by bylaws and directed by officers who are also members..
In macroeconomics and finance, a transfer payment is a redistribution of income and wealth by means of the government making a payment, without goods or services being received in return. These payments are considered to be non-exhaustive because they do not directly absorb resources or create output. Examples of transfer payments include welfare, financial aid, social security, and government subsidies for certain businesses.
A director general or director-general is a senior executive officer, often the chief executive officer, within a governmental, statutory, NGO, third sector or not-for-profit institution. The term is commonly used in many countries worldwide, but with various meanings.
A social enterprise is an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being. This may include maximizing social impact alongside profits for co-owners.
The Australian Trade and Investment Commission, or Austrade, is the Australian Government's trade, investment and education promotion agency which was also given responsibility for tourism policy, programs and research from 2013. Austrade was established under the Australian Trade Commission Act 1985. It is a non-corporate Commonwealth entity under the Public Governance, Performance and Accountability Act 2013, and a statutory agency under the Public Service Act 1999. Austrade is part of the Foreign Affairs and Trade portfolio.
International business refers to the trade of Goods and service goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
Canada–Caribbean relations are the long established relationships between Canada and the many states of the Caribbean or West Indies. These ties have been on-going throughout the history of both regions. Initially these relations were based on the policies of European colonial powers in the Americas. More recently, both Canada and most of the Caribbean islands have achieved self-government, putting their relations into a different phase. CARICOM diplomats have referred to Canada as a '"special friend" of the Caribbean at the regional and bilateral levels.' Ties exist in such plurality of organs such as: the Commonwealth of Nations, the Organisation internationale de la Francophonie, Organization of American States, ParlAmericas, the United Nations, and the World Trade Organization.
Transnational organized crime (TOC) is organized crime coordinated across national borders, involving groups or markets of individuals working in more than one country to plan and execute illegal business ventures. In order to achieve their goals, these criminal groups use systematic violence and corruption. Common transnational organized crimes include conveying drugs, conveying arms, trafficking for sex, toxic waste disposal, materials theft and poaching.
Federal financing for small businesses in Canada is facilitated via a number of programs and agencies. Financing is available in the form of grants, loans, loan guarantees, income support and subsidized hiring and/or training programs. The government also provides funding for no-cost or subsidized services to small businesses, including workshops, business plan consulting, education, and federally sponsored trade missions. Financing, and federally funded or subsidized services are available both to established businesses looking to grow or expand into new markets and to entrepreneurs seeking to launch a new business.
Economic diplomacy is a form of diplomacy that uses the full spectrum of economic tools of a state to achieve its national interests. The scope of economic diplomacy can encompass all of the international economic activities of a state, including, but not limited to, policy decisions designed to influence exports, imports, investments, lending, aid, free trade agreements, among others.
Canada–China relations, or Sino-Canadian relations, officially date back to 1942, when Canada sent an ambassador to China. Before then, Canada had been represented by the British ambassador. The Communist victory (1949) in the Chinese Civil War resulted a break in relations that lasted until 1970, when Canadian Prime Minister Pierre Trudeau became one of the first Western leaders to recognize the People's Republic of China.
Offsets are compensatory trade agreements, reciprocal trade agreements, between an exporting foreign company, or possibly a government acting as intermediary, and an importing entity. Offset agreements often involve trade in military goods and services and are alternatively called: industrial compensations, industrial cooperation, offsets, industrial and regional benefits, balances, juste retour or equilibrium, to define mechanisms more complex than counter-trade. Counter-trade can also be considered one of the many forms of defense offset, to compensate a purchasing country. The incentive for the exporter results from the conditioning of the core transaction to the acceptance of the offset obligation.
The Fur Institute of Canada (FIC) works to promote the fur trade and to advocate for the fur industry. The organization, has more than 100 members from industry and trade, government, Aboriginal groups and the scientific community.
Public affairs generally refers to the engagement efforts between organizations, often times in the context of building business or governmental relationships. The industry has developed over recent years and is normally considered a branch or sub-discipline of public relations (PR). Having such a broad range of coverage regarding its definition, public affairs is, by nature, a hybrid of disciplines that relies heavily on strategic communication. While often equated with lobbying, this is usually only a small part of what a public affairs practitioner might do. Other typical functions include research, strategy planning and providing advice. Dr. Juan-Carlos Molleda writes, “Many types of organizations virtually and physically interact and communicate with publics and/or audiences outside of their own country of origin to build a dynamic set of relationships. Trade, direct foreign investment, political coalitions, worthy global causes, information flow, and social networking, among other phenomena, are increasing the complexity of those relationships dramatically”.
Technical intelligence (TECHINT) is intelligence about weapons and equipment used by the armed forces of foreign nations. The related term, scientific and technical intelligence, addresses information collected or analyzed about the broad range of foreign science, technology, and weapon systems.
Enterprise Florida, Inc.(EFI) was a public–private partnership between Florida’s business and government leaders and was the principal economic development organization for the state of Florida. EFI’s mission was to expand and diversify the state’s economy through job creation. In pursuit of its mission, EFI worked closely with a statewide network of economic development partners and was funded both by the State of Florida and by private-sector businesses. Enterprise Florida did not disclose who its donors were.