New Brunswick unveils plan to grow exports outside the U.S.

The New Brunswick government wants to expand its export markets outside the United States by almost 16 per cent by 2030.

Premier Susan Holt unveiled the target as part of the government’s new market diversification strategy, announced today in Dieppe, N.B.

The government is aiming to increase total exports to non-U.S. markets to $1.32 billion, up from $1.14 billion last year.

Asia and Europe are the two main regions the province is targeting, and Holt is planning a trade mission to Cambodia and South Korea later this month.

The diversification plan includes support for export-ready businesses and more trade missions and promotion, including a new growth office in the European Union.

Holt also wants to boost trade with the rest of Canada by 61 per cent to $22.1 billion by 2029.

Meanwhile, the province plans to continue efforts to lower provincial trade barriers and to strengthen domestic supply chains.

“New Brunswick has what the world wants,” Holt said in a statement. “We can’t rely on one market, but we can support our businesses to seize new opportunities and build strong relationships with trading partners.”

Why it matters

The strategy reflects the province’s effort to reduce reliance on the United States as an export market. By setting specific targets for non-U.S. exports and interprovincial trade, the government is outlining a measurable approach to market diversification. The planned trade mission to Cambodia and South Korea, along with the new growth office in the European Union, are concrete steps in the plan.

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Sources

• globalnews.ca: New Brunswick Premier Susan Holt unveils plan to grow exports outside the U.S. - New Brunswick | Globalnews.ca
• thestar.com: New Brunswick Premier Susan Holt unveils plan to grow exports outside the U.S.

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.