#Ontario; #India; #VirtualMissionToIndia; #TechIndustry
Ontario/Canadian-Media: Based on Ontario's success of last year's mission to India by its two-way trade worth C$3.4 billion (US $2.6 billion), this year also Ontario is launching in December a virtual mission to India led by Vic Fedeli, Minister of Economic Development, Job Creation and Trade to promote the province as a premier destination for international investment and create new opportunities for Ontario businesses, media reports said.
Vic Fideli. Image credit: Twitter handle.
"Now more than ever, we must let the world know that Ontario is still open for business and open for jobs...around the world...our government will continue to develop partnerships in strategic markets in India, which will help us build the foundation for recovery in the short term, and prosperity in the long-term," said Minister Fedeli in a news release.
Fideli would be joined by a business delegation of 13 Ontario tech companies at the India Mobile Congress, the largest digital and technology forum in India and South Asia to promote the province's advantage during proposed bilateral meetings with government and corporate leaders, including counterparts in the state governments of Maharashtra, Karnataka and Madhya Pradesh.
Last year's mission also accounted for almost 700,000 jobs in Ontario in the manufacturing sector with about 12 percent of the province’s Gross Domestic Product (GDP) contributing $88 billion and resulted in nearly 150 business-to-business meetings that brought Ontario companies in direct contact with Indian businesses to explore new partnerships and networking events with hundreds of major players in the Indian telecom industry.
"Our mission to India just over a year ago resulted in stronger commercial relationships and increased export and investment opportunities in the growing Indian market...This year's virtual mission will build on those relationships and help Ontario businesses expand their global reach, which is a key component of our Open for Business approach," said Parliamentary Assistant for Economic Development, Nina Tangri in the news release.
With the establishment of Invest Ontario, a new investment agency ensuring securing strategic projects and promote its economy, Ontario's focus this year would be on advanced manufacturing, life sciences, and technology and is providing $3.75 million over two years to support work by the Ontario Centre of Innovation and the Toronto Business Development Centre to attract more international start-ups to Ontario.
Besides participating virtually in business to business meetings and networking events with hundreds of major players in the Indian telecom industry, Fidel with his business delegation in this mission would also invite international audiences at events hosted by the Indo-Canadian Business Chamber and the Canada-India Business Council.
Ontario, the second largest innovation and tech industry in North America has Trade and Investment Offices in New Delhi and Mumbai and more than 60 Indian companies across all sectors have operations and investments in Ontario with six of the top 12 research and development spenders in Canada.
#ILO; #PersonsWithDisabilities; #Covid19Pandemic
ILO/Canadian-Media: Persons with disabilities should be made a priority in the response to the COVID-19 pandemic , says a grouping of enterprises, non-profits and disabled people’s organizations, led by the International Labour Organization (ILO).
Persons with disabilities should be consulted on COVID-19 response measures, so their insights and experiences are taken into account.
Members of the network also reaffirmed their commitment to retain and hire persons with disabilities and the need for companies to be non-discriminatory in the way they tackle issues arising from the crisis.
“Globally, we are living challenging times with the coronavirus pandemic that is causing an important economic impact in our societies,” said GBDN Chair, Pilar Rojas of Repsol S.A. “While we are all trying to adapt to the new normal, this is more difficult for persons with disabilities. The companies that belong to the ILO Global Business and Disability Network are committed to promote disability-inclusive responses to achieve business results while leaving no one behind.”
Two more companies have joined the network – Nestlé and SUEZ Group – and four other companies – Salesforce, LVMH, Schneider Electric and Sopra Steria Group – are set to join the Network in the near future.
“For SUEZ, signing the Charter and joining the Business and Disability Network is not only a sign of strong belief, it is in our DNA to always do better and more in terms of inclusion. SUEZ will continue its efforts to actively recruit and support disabled people for all our activities around the world. We are convinced that diversity is a strength. Proud of their work and robust in their values, the SUEZ teams are shaping a sustainable environment, now,” said Bertrand Camus, CEO of SUEZ.
“Being part of the ILO Global Business Disability Network and signing the Charter reinforces our commitment to concrete action towards the inclusion of people with disabilities at Nestlé. It is another important step in our journey to foster an even more diverse and inclusive culture,” said Béatrice Guillaume-Grabisch, Executive Vice President and Head of Group Human Resources and Global Business Services at Nestlé.
Since the outbreak of the pandemic, the Network has launched a number of initiatives including two surveys and webinars on disability inclusion.
#ILO; #GlobalBusiness; #Business, #EconomicRecovery, #Enterprises, #Microenterprises, #SmallEnterprises, #Financing, #Tourism, #SafetyManagement
Geneva (ILO News)/Canadian-Media: A new report on the impact of the COVID-19 pandemic on businesses shows that their greatest challenges have been insufficient cash flow to maintain staff and operations, supplier disruptions and access to raw materials, ILO reports said.
Image credit: Twitter handle
With businesses already undergoing significant competitive pressure prior to the crisis, government restrictions, health challenges and the economic fall-out brought by COVID-19 further set back many enterprises.
Interrupted cash flow was the greatest problem, the survey found. More than 85 per cent reported the pandemic had a high or medium financial impact on their operations. Only a third said they had sufficient funding for recovery. Micro and small enterprises (those with 99 employees or fewer) were worst affected.
The survey, carried out by Employers and Business Membership Organizations (EBMOs), involved more than 4,500 enterprises in 45 countries worldwide. EBMOs gathered data from their enterprise members between March and June 2020. The businesses were asked about operational continuity, financial health, and their workforce.
At that time, 78 per cent of those surveyed reported that they had changed their operations to protect them from COVID-19, but three-quarters were able to continue operating in some form despite measures arising from government restrictions. Eighty-five per cent had already implemented measures to protect staff from the virus.
Nearly 80 per cent said they planned to retain their staff – larger companies were more likely to say this. However, around a quarter reported that they anticipated losing more than 40 per cent of their staff.
Looking into the future, preparing for unforeseen circumstances and mitigating risks associated with a disruption of business operations is needed. Fewer than half the enterprises surveyed had a business continuity plan (BCP) when the pandemic hit, with micro and small businesses the least likely to have made such preparations. Additionally, only 26 per cent of the enterprises who responded said they were fully insured and 54 per cent had no coverage at all. Medium-sized enterprises, (those with 100 to 250 employees), were most likely to have full or partial coverage.
Strengthening government support measures for enterprises are also vital for their recovery. Four out of ten enterprises said they had no funding to support business recovery while two-thirds said funding was insufficient. Of the sectors analysed, the tourism and hospitality sector, followed by retail and sales, were most likely to report funding issues.
The report production was facilitated by EBMOs who collected and shared the survey data with the Bureau for Employers' Activities (ACT/EMP) at the International Labour Organization. ACT/EMP is a specialized unit within the ILO Secretariat that maintains close and direct relations with employers’ constituents.
Canada. #UK; #CETA; #GlobalTrade
Ottawa/Canadian-Media: Mary Ng, Minister of Small Business, Export Promotion and International Trade, along with Elizabeth Truss, the United Kingdom (UK)’s Secretary of State for International Trade, announced Nov 21 the successful conclusion of talks for the Canada-UK Trade Continuity Agreement towards negotiating a comprehensive free trade agreement, media reports said.
Image credit: Twitter handle of Canada Trade
In view of the departure of UK from the European Union (EU), Comprehensive Economic and Trade Agreement (CETA) will no longer apply to the United Kingdom beginning January 1, 2021.
But CETA continues to govern Canada-EU trade by the successful conclusion of Canada-UK Trade Continuity Agreement.
Mary Ng. Image credit: Twitter handle
UK, the third largest market worldwide in foreign direct investment, and science and technology was Canada’s largest merchandise export market in Europe in 2019,
The government of Canada's consultation is open with Canadians and the provinces and territories, before going back to the negotiating table with the UK and will always prioritize the needs of Canadian workers and businesses.
The Canadian Trade Commissioner Service continues to serve companies doing business in the United Kingdom and in the EU.