What can we do to better support the success of Canadian companies abroad?
Finding new markets and furthering free trade agreements or foreign investment promotion between Canada and existing and new trading partners can aid in developing new opportunities for mineral development companies abroad. Government sponsored research and toolkits, such as, Canada’s enhanced Corporate Social Responsibility (CSR) Strategy, “Doing Business the Canadian Way: A Strategy to Advance Corporate Social Responsibility in Canada’s Extractive Sector Abroad” showcases the results of CSR work and experience while building on best practices. Small companies operating abroad may not have the resources or the capacity to develop industry best practices. The government needs to support the industry internationally as its such a critical portion of Canada's GDP, global trade and FDI.
Canadian companies operating oversees bring with them the label of their country. The stronger Canada's brand is, the better received they'll be. A head-start -- that is, being viewed as leader in CSR helps gain trust early and establish more meaningful relationships. Garnering support early and have positive associations is a huge advantage. Canada needs to allocate resources to build awareness of the strong brand that exists, they need to monitor Canadian companies overseas and supply them with the tools and knowledge needed to mine ethically and socially.