New Brunswick is seeking to grow its exports outside of the United States by nearly $200 million in the next four years, according to a new report. “Local roots, global reach: New Brunswick’s Market Diversification Strategy” lays out the province’s plan to expand into Europe and Asia, along with other Canadian provinces, by 2030. The strategy notes key markets include Germany, France, India, Japan and South Korea. “Opportunities include expanding domestic supply chains across Canada, meeting demand for premium seafood and food products in markets such as Japan and South Korea and supporting Europe’s clean energy and industrial transformation in markets such as Germany and France,” the strategy reads. “Together, these markets offer significant potential to diversify exports and strengthen long-term trade relationships.” The plan cites shifting trade relationships and a changing global economy as reasons for New Brunswick to look beyond the United States for business. “The challenges facing New Brunswickers today are unprecedented,” the strategy reads. “Businesses are facing rising costs, economic uncertainty, and a rapidly changing geopolitical landscape. “In these circumstances, the Government of New Brunswick has a responsibility to examine every opportunity that could strengthen the economy and support a more prosperous future.” New Brunswick’s exports to non-U.S. key sectors were valued at $1.14 billion in 2024; the province wants to grow that number to $1.32 billion by 2030. The province is also seeking to grow interprovincial trade from $13.7 billion in 2024 to $22.1 billion by 2030. “We can’t rely on one market, but we can support our businesses to seize new opportunities and build strong relationships with trading partners,” said Premier Susan Holt in a news release. “This plan is about creating more partnerships for our businesses to grow, delivering good-paying jobs here in New Brunswick and making sure New Brunswickers benefit from new economic opportunities.” The strategy says it is built on four strategic actions: Luke Randall, the minister responsible for Opportunities NB, said they are investing in companies to build out the supply chain. “We certainly have a really strong technology sector, we have a strong services sector,” he said. “But we’re also looking to help support companies like engineering firms, IT firms, defence firms to find markets.” Premier’s trip On the same day she revealed the trade plan, Holt announced she would be leading a trade delegation to Cambodia and South Korea to promote New Brunswick businesses. The trip will run from Nov. 12 to 20. In Cambodia, Holt, along with Public Safety Minister Robert Gauvin, will participate in the 20th Summit of La Francophonie. “Our two official languages help us build relationships, attract investment and reach more markets around the world,” Gauvin said in a news release. “Through La Francophonie, we can turn those connections into new opportunities for businesses and benefits for people across our province.” Holt will meet with government officials and companies to explore partnership opportunities in energy and nuclear technology in South Korea. She will also meet with companies involved in shipping, defence logistics and critical minerals. With files from CTV News Atlantic’s Avery MacRae For more New Brunswick news, visit our dedicated provincial page.
