With 82.4 million people, Germany is the largest country in the European Union (EU). It ranks in the top 20 countries in terms of global gross domestic product per capita, making it one of the richest countries in the world. For Canadian exporters, doing business in Germany provides access not only to this wealthy single market, but to the largest world-wide trade bloc.
Thanks to the Canada-European Union Comprehensive Economic and Trade Agreement (CETA), it’s never been easier to do business in Europe. CETA has effectively reduced or eliminated tariffs altogether, and significantly eased non-tariff barriers as well. Strong governance practices and low corruption rates make Germany one of the best places in which to do business.
Canadians have historically kept a lower profile than their neighbours to the south, but today, Canada is under a global spotlight. Local entrepreneurs are increasingly receiving international attention—more than 40 per cent of venture capital raised by Canadian startups last year came from outside the country. According to CBRE, in 2018 Toronto created more jobs than the San Francisco Bay area, Seattle and Washington, D.C., combined, and also topped New York in a ranking of “talent markets.”