A round table on “Canada – your gate to business” was organized by the Economic Chamber of North Macedonia in cooperation with the Embassy of Canada in Belgrade and the Canadian Honorary Consulate in Skopje.
The event aimed at presenting the market opportunities, investment climate, and the legal and financial requirements for starting a business in Canada. More than 15 Macedonian companies followed the presentation on the conditions Canada has to offer to foreign investors.
Antoni Peshev, MBA, Executive Director of the Economic Chamber of North Macedonia, greeted the initiative for bringing the Canadian market closer to the Macedonian, sharing that the intention of the Chamber in the coming period is precisely to create conditions for higher export potential of our companies.
Hendrik Taulin, FDI specialist from the Canadian Embassy in Germany, presented the requirements for entering the Canadian market, which allows registering a company online, and owing to the free trade agreements, any company registered in Canada has free access to 51 countries with market potential of 1.5 billion consumers, including the USA and Mexico. The said conditions are an adequate stimulation for any company to operate on the North American markets through Canada. In his address, Mr. Taulin focused on the business environment in Canada, which is ranked fourth among the G20 countries according to the Global Business Complexity Index, boasting with the least complex legal system for running a business.
Value of goods traded between Canada and North Macedonia amounted to $13 million in 2021. In the same year, North Macedonia imported goods from Canada worth $3.07 million, largely composed of meat, cars, and auto parts. Export from North Macedonia to Canada in 2021 amounted to $10 million, chiefly made up from iron, steel, and tobacco.
According to Mr. Taulin, Canada can offer commercial opportunities to Macedonian companies in fields such as mining, IT and communication technology, defense and security, and clean technology.
The debate that took place between the participants provided several initiatives that the Chamber will be working on in the upcoming period, which could further increase the trade between the two countries. The ECNM is actively following every opportunity and initiative, being a representative of the largest business community in the country. While celebrating its 100th anniversary this year, the Chamber remains voice of the business, building bridges that will contribute to value added for our economy.