Released on August 13, 2024
Province's International Outcomes Showing Successes in Q1 of 2024-25
Today, Saskatchewan is reporting several new international successes for the first quarter (Q1) of the 2024-25 fiscal year. These are leading to new opportunities, more jobs, and increased investment for the benefit of people and businesses in Saskatchewan.
"Saskatchewan continues to reach new heights on the global stage," Trade and Export Development Minister Jeremy Harrison said. "We are seeing record investment and global partnerships thanks to the work we have put in abroad, including the role of our international office network. We are proud to tell Saskatchewan's story on the world stage, while bringing new opportunities home to the people of our province."
The international office network has been working hard to promote the Saskatchewan Advantage to new markets and partners. This has resulted in significant gains in global markets.
Today, Q1 numbers show that exports to Indonesia have increased by 97.6 per cent compared to the same period the previous year. The total export value was $279.7 million, driven by a 490.5 per cent increase in potash. Exports to Peru increased by 19.4 per cent compared to the same period the previous year. The total export value was $105.5 million, driven by exports for non-durum wheat. Exports to Morocco and China also increased by 12.4 per cent and 8.7 per cent, respectively.
Additionally, during Q1, the Government of Saskatchewan hosted twelve incoming diplomatic delegations, including the High Commissioner of India to Canada, the Ambassador of Saudi Arabia to Canada, the Ambassador of Jordan in Canada, and other dignitaries from the United States, Netherlands, Switzerland, the United Republic of Tanzania, Kenya and Guatemala.
These visits, along with outreach efforts in other regions, resulted in multiple agreements being signed between Saskatchewan and international partners. Some of which include:
- A memorandum of understanding (MOU) between the Saskatchewan Research Council and Vietnamese company Hung Thinh Group to collaborate on rare earth metals;
- An extension to an MOU between the Japanese Overseas Infrastructure Investment Corporation and the Government of Saskatchewan to identify new investment opportunities in helium and carbon capture, utilization, and storage technology; and
- A letter of intent between the Governments of Saskatchewan and France to explore, develop and cooperate on new projects related to strategic mineral resources.
Saskatchewan's international efforts have also delivered successes in trade. In April, Saskatchewan's Mexico office assisted Saskatchewan Trade and Export Partnership (STEP) to lead eight Saskatchewan companies in a trade mission to Peru and Mexico. This resulted in over 186 business-to-business connections and sales of over $1 million in agricultural commodities.
Saskatchewan's international office network also supported STEP who organized ten outgoing trade missions with 81 Saskatchewan exporters participating. These missions generated 1,210 trade leads, resulting in 323 trade deals worth approximately $29.3 million.
The province continues to leverage the Saskatchewan Immigrant Nominee Program (SINP) to recruit international talent to fill in-demand jobs and grow the population.
In April 2024, Saskatchewan's Mexico office assisted 106 students from Yucatan, Mexico in obtaining their Canadian Student Visas to study at the University of Regina. Similarly, the India and the United Arab Emirates offices supported the Ministry of Immigration and Career Training to direct recruitment initiatives designed to enhance program outcomes while meeting the labour demands of a strong economy. This resulted in more than 300 nominations of skilled workers through the SINP arriving in Saskatchewan this year.
International efforts like this help to achieve record-breaking exports and investment. Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
For more information on Q1 international outcomes, read the backgrounder below. To learn about Saskatchewan's endless opportunities, visit: InvestSK.ca.
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