Thank you again, Madam Chair.
As noted, I'm Sara Wilshaw. I'm the assistant deputy minister of international business development, investment and innovation at Global Affairs Canada. I'm also the chief trade commissioner. This means that I lead a network of almost one thousand employees at Global Affairs Canada, where we serve Canada from over 150 locations around the globe, as well as 600 employees in 14 offices across the country.
I'm very pleased to speak about how the trade commissioner service, or the TCS, supports the integration of Canadian businesses into global value chains. The TCS is a client service organization, first and foremost. We aim to support the sustainable and equitable growth of Canada's economy by providing free services, support and funding to qualified Canadian exporters and innovators, educational institutions and foreign investors. With nearly two-thirds of Canada's GDP linked to international trade, our work helps to make Canada's trade and economy more resilient.
The TCS generates real economic results for Canada. In the 2022‑23 fiscal year, the TCS provided over 52,000 distinct services to more than 11,000 Canadian businesses and clients. With that support, those clients achieved over 1,000 new international business deals and partnerships with an estimated value of $4 billion.
In the same year, we supported foreign direct investment worth an estimated total of $16 billion and over 13,000 new jobs in Canada. Foreign multinationals are actually a really important part of the Canadian economy, accounting for over 60% of trade in goods and services. Not only does FDI contribute significantly to Canada's integration into global supply chains, but it also strengthens our domestic supply chains by acting as a stable source of demand for Canadian industry suppliers.
It should be noted that the TCS shares this mandate with Invest in Canada and with provinces, territories and municipalities to promote FDI into Canada, just as we share the mandate to support exports with a number of other government departments, EDC, CCC and provincial and territorial counterparts.
We know that Canadian companies that use TCS services export to nearly 25% more markets. They export 11.2% more product varieties and earn 19.8% more value than non-clients do. I should add that, of course, Canadian imports and Canadian direct investment abroad are not part of the core mandate of the trade commissioner service. We are outward-facing and focused on inbound investment primarily.
In 2018, the Government of Canada launched the export diversification strategy, with a goal of increasing Canada's overseas exports by 50% by 2025. Canada is on track to meet that target, with the help of the TCS.
Canadian businesses and clients that export their products to multiple markets seem less vulnerable to supply chain disruptions and to sudden changes in demand.
Since over 90% of TCS clients are SMEs, our services can make the difference for a Canadian business being able to successfully enter a new market.
In addition to diversifying where we do business, where we export, the TCS is also committed to diversifying who trades by providing targeted support for traditionally under-represented groups in trade.
This work is all in the service of helping Canadian businesses integrate into global supply chains that will define key and emerging sectors for the future and promote Canadian prosperity.
Supporting the expansion of Canadian businesses in high‑growth sectors of interest across the globe, such as the green and digital economy, is also in line with our commitment to responsible business conduct, or RBC, as highlighted in our strategy.
To build on these successes, the TCS Canadian technology accelerators and some of our other flagship programs have been expanded to help more Canadian entrepreneurs find investors, customers and partners in innovation hubs all around the world. We have also expanded the Canadian international innovation program to help Canadians commercialize their innovations through international partnerships.
Madam Chair, I just want to end by highlighting the TCS work in the Indo-Pacific region in particular, given the strategy and the focus on that area. With over 350 trade commissioners already based in the region, providing thousands of Canadian businesses with services and support, we have long recognized the importance of the Indo-Pacific to global economic growth. In support of that strategy, the TCS is organizing the team Canada trade missions to the region. We will have missions to Malaysia, Vietnam, South Korea, Indonesia and the Philippines coming up this year.
As noted, we do all of this alongside a lot of partners and a lot of folks who are engaged in the international trading and investment-attraction space. We know that increased international business for Canadian companies is key to our future prosperity and to our economic security. We're proud to be helping Canadian businesses on that journey, and we look forward to adapting to their needs along their journey.
Thank you.