Canada is a country found in North America. She consists of ten provinces i.e. British Columbia, Newfoundland, Manitoba, New Brunswick, Alberta and Labrador, Ontario, Prince Edward Island, Nova Scotia and Saskatchewan and three territories: Northwest Territories, Nunavut territories and Yukon.
Canada is located between the Atlantic, the Pacific and lies on the north, it boarder Arctic Ocean. In regard to size, Canada is the second largest country. She covers an approximate land area of 3.511 million square meters and a total area of 3.855 million square meters.
In a federal system, as is the case with Canada, a state’s power is shared between two sets of governments, one national and another sub-national. The two powers operate directly upon the people. She has a democratic government by the parliament and a monarchy to govern her.
Constitutional division of power is established between democratic government and the monarchy. Queen Elizabeth II is Canada’s sovereign leader. The governor-General since 2010 is David Lloyd Johnston and the Prime Minister has been Stephen Harper of the Conservative party since 2006 (Solusource par 1).
Canada has diverse cultures. She is multi ethnic country. Her population is approximately 34,300,083 with a growth rate of about 0.78%. Her birth rate is 10.28/1000. Canada has an infant mortality rate of 4.85/1000. Life expectancy in Canada is 81.48 and the population density is 3 persons per square kilometer, according to the 2012 population estimate (Infoplease par 2-3).
The currency in Canada is the Canadian dollar. She easily floats against major world currencies. The dollar runs almost at par with the US$. She has her coins as the toonie and loonie. Other denominations are available in $100, $20, $50, $10 and $5. Coins have replaced the smaller value bills.
The bills are brightly coloured and this makes them easily distinguished from others. Revolution has made exchange of foreign currency in Canada easy. It is done at the airports, authorized shops, banks and at crossings points along the borders. Credit and debit cards are easily accepted in Canada and the ATMs are easily accessible especially in urban centres (Mclean par3-6).
Canada has a democratic government by the parliament and a constitutional monarchy to govern her. She has three levels of government. Each level has an own specific mandate the governments are provincial, municipal and federal. Elections are held by way of voting where the citizens elect their representatives at the above named levels.
The Canadian Government is headed by a Governor General who represents the Queen of England. The Prime Minister appoints the Governor General. The post of a Governor General is a symbol of the British monarchy. Usually, the Prime Minister is elected by the people. Canada’s parliament consists of elected representatives, also known as members of parliament. Their sittings are done in the House of Commons and conducts debates on issues of both regional and national importance (Infoplease par 2-3).
The Queen who is represented by the Governor General holds no real power. For an approval to all bills passed by the house of common, the governor general ascends by signing on behalf of the Queen.
A department called the Natural Resources Canada (NRCan) ensures good use of the natural resources. By working closely with other partners the department strengthens security, safety and sound environmental leadership for sustainable use of the resources for the Canadians (Natural Resource Canada, par 2-3). Canada is one of the member countries of economic blocks such as World trade Organization (WTO) among others (Fergusson 1).
Proposition
Interlink global solutions
China
Business Operations Department,
RE: ELECTRICAL AND ELECTRONICS IMPORTATION.
This letter comes to seek your partnership in business dealings. We as a company, specialize with overhaul importation and installation of electrical and electronics appliances here in Canada. However, due to increased customer demand and expanded market, we are not in a position to supply the required amount of the products.
After a good survey of our country and the market, we managed to write the accompanying report about Canada as a country, and the business dynamics associated. There is a fertile market for any company that would be interested in importing these products and after a thorough consideration, your company fits most.
This is because we are aware that this is your line of specialization in your country, China. As partners, our companies are better placed to tackle the shortage and there are already existing incentives to any company ready to explore this business niche.
Canada has an economic system commonly referred to as the capitalistic system. The system allows private ownership of capital that is used in production purposes. These include factories, production plants and equipments. Under this system, great efforts are being made to boost the private investment in the country by the government. The primary import commodities for Canada are durable consumer goods, crude oil, motor vehicle and parts, chemicals, electricity and machinery & equipments.
The accompanying report of our country will serve to enlighten you on the vast opportunities available in Canada. Our company hopes to here from you soon.
With regards
The Canada haulers company,
CANADA.
Benefits of import trade to Canada
As earlier said, Canada has an economic system commonly referred to as the capitalistic system. The system allows private ownership of capital that is used in production purposes. These include factories, production plants and equipments. Under this system, great efforts are being made to boost the private investment in the country by the government.
Diverse ways of involvement in productive work include importation as a form of economic activity. As already seen, Canada has invested a lot in service industry and this has made most of her export trade be dominated by the export trade of technology and the human labor.
This in turn has led to abandonment of primary production and heavy investment has been directed towards service industry. Canada also has a system commonly known as mixed economy. This system combines both private and government ownership and control of economic resources. Goods and services are produced and provided by the government and private companies.
The two systems, capitalistic and the mixed economy system are a good support for both import and export industry. Trade regulations are in play to regulate the trade and this minimizes illegal trade across the borders. There is a fairly stable balance of trade with Canada being a leading exporter of natural resources and technology according to the facts and figures 2010 (Natural Resources Canada, table 1).
In the year 2010, the Gross National income (GNI) in Canada was 24725 (constant 2000 US$).
GNI per capita, PPP was 38370 (current international $) in 2010 with a notable fluctuation of between 38490 and 10730 in the years 2008 and 1980 respectively (Index mundi par 1-2).
Canada is highly industrialized and urbanized. She has had great growth in mining, manufacturing, and service sectors since World War II. Canada has enormous riches in mineral deposits, water based resources and forests. Other resources include petroleum, wildlife, natural gas and hydropower.
Nevertheless, Canada like most other developed countries has dominance in service industry. She has moved from agrarian mode into services. Before the World War II, Canada specialized in agricultural production. Benefits from modern technology have been positively noted in retail business sector, health and education sectors both domestically and globally.
Import and export trade has thrived greatly between Canada and the US. Commodities dominate this trade. The US imports more food products from Canada while Canada imports nearly a fifth of US’s food products. A challenge that Canada faces is the challenge to maintain her status as a world leader in sustainable development. She leads in contributing to the welfare of her people as well as other countries by her foreign trade in the world’s investment climate (Westervelt 8).
According to the 2011 statistics, the total value of imports in Canada was US$ 406.4 billion. Canada and the US are linked to each other. Their hydropower facilities, and national transmission grids are shared.
The primary import commodities for Canada are durable consumer goods, crude oil, motor vehicle and parts, chemicals, electricity and machinery & equipments. Canada’s primary import partners are US, which amounts to 51.1% of her total imports, China amounting to 10.88 % of her total imports and Mexico amounting to 4.56 % of her total imports.
A number of advantages can be sited accruing from importation as is the case with Canada. These are: Comparative advantage where the importing country saves income through importing commodities as compared to domestic production, while in other situations, goods are lowly priced. Higher-quality products; where a country takes advantage of better quality standards in production of commodities from other countries. Private entrepreneurs realize higher returns while the government benefit from trade tariffs.
Moreover, Importing grants access to regionally exclusive resources and in the process, a country like Canada is able to save on depletable resources for future (Solusource 1-2).
In addition, chemical makers – say the LNG – imports gasoline in Canada to ease supply constraints in North America and also price volatility in the region. The imports doubled in metric tones between 2002 and 2003 following an agreement accented to by the Shell and Petro-Canada companies to import LNG from Russia. The agreement was a 20 year contract.
In conclusion, its therefore clear that importation as a way of trade is highly suited in Canada. Different points of analysis as developed above suits the mode of trade better than other forms. This is because the trade has already taken ground, production mode of the economy has also shifted from industrial production to the service and processing mode and finally the government has put into place strategies to encourage import trade.
Works Cited
Economy Watch. “Canada Exports, Imports & Trade.” Economy watch. Web.
Fergusson, Ian, “United States-Canada Trade and Economic Relationship: Prospects and Challenges”, congressional research service, 2011. Web.
Infoplease. “Canada.” Web.
Index mundi. “Canada – gni: GNI, Atlas method (current US$).” Index mundi. Web.
Mclean, Jane. “Canada travel, Canadian Currency – Money in Canada.” about.com, Web.
Natural Resource Canada. “Canada’s Natural Resources – Now and for the Future.” Natural Resource Canada. Web.
Solusource, “Five Key Benefits of Importing Goods and Materials from Overseas”. Web.
Westervelt, Robert, “Shell, Petro-Canada Sign Separate Deals to Import LNG from Russia,” Chemical Week. 2004, Vol. 166 Issue 34, p8-8.