Montréal, January 31, 2020 ‒ The Chamber of Commerce of Metropolitan Montreal and Montréal International today released a study entitled International Connectivity Central to the Growth of Greater Montréal. The study identifies strategies and best practices to reinforce the internationalization of Greater Montréal through an analysis of nine cities that are highly competitive in international trade. Backed by concrete data and case studies, it looks at the international connectivity of cities based on four types of flows: exports of goods, foreign direct investment, international talent and data.
“Our analyses show that openness to the world is important not only as a factor in wealth and job creation, but also in local innovation,” said Michel Leblanc, president and CEO of the Chamber of Commerce of Metropolitan Montreal. “Greater Montréal has an interest in strengthening international trade to support its long-term economic growth. This study presents concrete avenues for action to accomplish that. By drawing inspiration from strategies and good practices developed by the most effective cities in the area, Montréal can distinguish itself in a context of intense competition to attract talent and establish solid, diversified international trade ties. We have to demonstrate vision and ensure players coordinate their efforts to ensure the success and increase the number of exporters.”
“Greater Montréal is experiencing a remarkable economic boom,” said Stéphane Paquet, president and CEO of Montréal International. “To maintain the momentum, the city needs to look more to international business. It’s up to us to draw inspiration from the most innovative practices and implement the most promising strategies for Quebec and Montréal.”
The Chamber of Commerce of Metropolitan Montreal and Montréal International have identified twelve avenues for action to reinforce the internationalization of the city. These fall under five areas of focus:
- Increasing the productivity of businesses in Greater Montréal
- Increasing the volume of exports and ensuring the competitiveness of logistics hubs
- Reinforcing the attraction and retention of foreign direct investment
- Attracting and retaining international talent
- Accelerating data exchanges
In 2018, the Chamber of Commerce of Metropolitan Montreal and Montréal International, along with the Government of Québec, published the study Greater Montréal: Connected Globally for More Collective Wealth. It demonstrated the role and importance of internationalization for the economy of Greater Montréal, because it has a major impact on wealth and job creation, while promoting growth in median household income. The study released today is the follow-up to the 2018 study. This benchmarking initiative makes it possible to identify avenues for efforts to reinforce the internationalization – the connectivity – of Greater Montréal.
To consult the full study and highlights, cick here.
About the study
This study was produced by the Chamber of Commerce of Metropolitan Montreal and Montréal International, in cooperation with the Communauté métropolitaine de Montréal, the Ville de Montréal and the Government of Québec.The study was released as part of the Strategic Forum “International Trade Central to Economic Growth,” organized by the CCMM, Montréal International and Investissement Québec.
About the Chamber of Commerce of Metropolitan Montreal (CCMM)
With a network of over 7,500 members, the CCMM is active on two fronts: being the voice of the Montréal business community and delivering specialized services to businesses and their representatives. With its finger on the pulse of current events, it acts on issues that are decisive for the prosperity of the city’s businesses. With the support of the Acclr experts, the CCMM’s goal is to accelerate the creation and growth of businesses of all sizes, at home and around the world.
About Montréal International
Established in 1996, Montréal International is a non-profit organization funded by the private sector, the governments of Canada and Québec, the Communauté métropolitaine de Montréal and the Ville de Montréal. Its mandate is to attract and retain foreign investment, international organizations, skilled workers and international students to Greater Montréal by providing support services tailored to their needs. www.montrealinternational.com
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