The business relationship between the US, Canada, and the EU
The business relationship between the United States, Canada, and the European Union is a well-established and often fruitful one. The US is Canada’s largest trading partner, and the European Union is the second largest, from a services standpoint. The Comprehensive Economic and Trade Agreement is responsible for removing nearly 98% of all tariffs on trading, putting Canada on a footing that is nearly equal to local businesses in Europe.
This has resulted in roughly 50% of the economic growth generated by the Comprehensive Economic and Trade Agreement coming from services. Since the EU and Canada are relatively developed, they also have economies that complement each other. This results in enormous levels of trade in intellectual services, as well as business and management services. There is also an incredibly high rate of services related to digital or technical products, as well as financial.
Canada and the United States enjoy a business relationship that is one not only of extreme convenience, but also of incredibly deep value, similar interests and values, and strong and layered economic attachments. Canada and the US have also recently agreed to the Roadmap for a Renewed U.S.-Canada Partnership that is aimed at pumping new life into the relationship between the two.
The US-Canada business relationship is responsible for nearly $2 billion in goods and services every day. This partnership also extends to industrial and business cooperation regarding matters of climate, water quality, air quality, wildlife and fisheries, and even energy needs. In most US states, Canada is the top trading partner country. Canada is the United States’ biggest customer and accounts for more goods and services bought than Asia and the EU combined.
The Benefits Of Outsourcing To The EU
The European Union is the second-largest business and talent market in the entire world, containing nearly half a billion consumers, and nearly 30 different national economies that operate interdependently. There is a reason that so many companies outsource to the EU when it is such a cost-effective font of talent.
The outsourcing talent pool in the EU is incredibly educated when compared to other regions, and finding specialties in sciences or engineering is not difficult. This has led to a rapid boom of a labor force that has robust software development and information technology skills. There is often such a lack of similarly skilled talent available in the US that many companies will look to an established Link Building Agency in order to accomplish their marketing and SEO goals.
The labor market in the EU is also growing in countries that have incredibly low-cost talent. Countries like Bulgaria, Poland, Romania, and Ukraine are offering populations of tens of thousands of available professionals in tech fields, or in the case of Ukraine, more than 100,000. One of the best things about outsourcing to countries in the European Union is that they have a staggering number of individuals that are proficient in the English language.
Between the European Union, and the US and Canada, there is also the benefit of having a large degree of cultural overlap, traditions, and a very direct form of communication. This makes the workflow and interpersonal dynamic much smoother and less likely to create misunderstandings, which can end up being relatively expensive. This also translates to a more inquisitive and solution-based job performance mentality.
Additionally, countries in the European Union have access to innovation and technological advances just as the US and Canada, which gives them an enormous potential for development.