That is a very good question.
Yes, the manufacturing sector has been hit by major job losses these last years because of the rise of the dollar. We must compete with a volatile dollar that has experienced much appreciation. There is ever fiercer competition, not only within our main market, that of the United States, but also throughout the world. Canadian companies must be competitive. We must convince foreign businesses to invest more in Canada. When the dollar is strong and when we are so dependent on the American market, it is certainly not easy.
However, even if major job losses have occurred, I would like to deliver a message with regard to the manufacturing sector. Despite everything, numerous plants have opened and industrial production has resumed since the recession, even if this activity has not been as vigorous as one would have hoped. I believe that the future of the Canadian economy is dependent upon the manufacturing sector. Two thirds of Canadian exports are attributable to products that are manufactured in Canada, but a large portion of the value of these products can be attributed to related services. We often see services industries create jobs. Often, this is due to the fact that they are supporting manufacturers that are successful abroad.
Canada’s Trade commissioner service plays an essential role, and not only in assisting Canadian companies in finding new export markets. I would say that at present the majority of our members are looking for new clients because their American clients are not importing as much as before. However, the service also has a very important role to play in attracting investment to Canada and I believe that the trade commissioners are doing a good job at this. They must however ramp up their efforts in view of seeking out more foreign businesses interested in investing in plants and operations here in Canada.