The National Marine Manufacturers Association (NMMA) Canada, will receive up to $33,825 in funding from Foreign Affairs, Trade Development Canada to support Canadian recreational marine manufacturers who are interested in developing their business in overseas markets.
The move marks a third year of support from the Canadian government for furthering the economic development of the recreational boating industry.
The funding stems from Foreign Affairs, Trade & Development Canada Global Opportunities for Associations (GOA), which aims to provide opportunities to Canadian manufacturers to pursue new business opportunities in other countries. GOA (formerly the Program for Export Market Development) delivers assistance across a wide range of sectors of the Canadian economy, including: education, financial services, aerospace, infrastructure, and information and communications technologies. It provides matching funding of up to 50 per cent of eligible expenses to support national associations for the benefit of an entire industry.
"NMMA Canada is thrilled to receive support from the GOA program for the third year in a row', comments Sara Anghel, Executive Director/Vice-President of Government Relations, NMMA Canada. "The contribution provides Canadian marine companies the opportunity to continue taking trade missions abroad to establish distributor opportunities and sell Canadian products in several emerging and established markets that show growth in recreational marine.'
Based on The Economic Impact of Recreational Boating in Canada: 2012, the recreational boating industry is a significant driver for Canada's national economy, generating $8.9 billion in revenue and employing nearly 70,000 people. With the support of GOA, NMMA's export development program in Canada has been able to expand and expose Canadian companies to markets in countries around the world including: Turkey, China, Australia and the United Arab Emirates.
A long-time supporter of Foreign Affairs, Trade and Development Canada for the boating industry, NMMA stated its support for the Canada-EU CETA negotiations in 2013, emphasizing the importance of the agreement to the boating trade. Prime Minister Stephen Harper had called the Canada-EU Comprehensive Economic Trade Agreement the most ambitious trade agreement in Canadian history at the time.
"Giving recreational marine companies the opportunity to work overseas and then providing funding to support this initiative is a huge step,' adds Anghel. "It indicates the government's commitment to the long-term success of the boating industry in Canada.'
GOA grants are non-repayable contributions for a one-year period of activities and related expenditures taking place between Global Opportunities for Associations (April 1 and March 31 of the following year.
The NMMA represents the recreational boating industry in North America. NMMA member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters and anglers throughout Canada and the US.