Under the theme “Pathway to Economic Growth: New Ambitions for Québec,” the Government of Québec has launched a territorial strategy to strengthen and renew its action in the Indo-Pacific.
The Indo-Pacific, which stretches from Central Asia to East Asia and includes the Indian Ocean and Oceania, has become the world’s economic and geopolitical hub. Not only is the region the world’s largest consumer market, it also became Québec’s second-largest international export market in 2020, having experienced the strongest growth in the past ten years.
The Indo-Pacific Strategy aims to support Québec’s exporters and boost the attraction of foreign direct investments from the region, which is key to Québec’s ambition to expand and diversify its international trade ties. It also serves to maintain and enhance Québec’s diplomatic tradition of cultural and scientific exchange, as well as the promotion of La Francophonie (particularly among youth) in the region’s countries.
The strategy targets markets in three major geographical areas:
The anchor markets of China, Japan, and South Korea;
The emerging markets of India, Singapore, and Association of Southeast Asian Nations (ASEAN) member states, including Vietnam;
The markets to explore in Oceania, namely Australia and New Zealand.
Strengthening and renewing Québec’s action in the Indo-Pacific through $15.2M in investments, including $5M in additional funds, to enhance its position and achieve its export and investment objectives.
Targeting actions and maximizing benefits within individual countries in one “umbrella” area—youth—as well as in five core areas:
Foreign trade and investment
Research, innovation, and training
Sustainable development and the green economy
Attracting talent and labour
Consolidating and expanding Québec’s network of government offices, which will make it better able to work in anchor markets and diversify into markets where Québec has little to no presence. This, in turn, will support Québec’s exporters in their regional markets, drive the attraction of foreign direct investments, and promote Québec’s expertise in the green economy.
Implementing a Trans-Pacific Approach to leverage the presence of major Asian companies in Silicon Valley. The Québec government offices in Tokyo, Seoul, and Singapore are working with their counterparts on the U.S. West Coast (Los Angeles and Silicon Valley) to implement this new approach.
Promoting Québec’s products, services, and expertise in the green economy, particularly in the clean technology, renewable energy, and transport electrification sectors.
Reinforcing Québec’s commitment to the promotion and protection of human rights.