Page 31 - Flathead Beacon // 1.14.15

FLATHEADBEACON.COM
BUSINESS
JANUARY 14, 2015 | 31
state, such as energy, equipment and ag- riculture products, in 2013. The overall bilateral trade relationship was worth $5.8 billion that year.
Hoping to strengthen and expand that relationship, a new effort is under- way involving city and business leaders in the region that is seeking more op- portunities for Montana companies and residents to work with firms in British Columbia and Alberta.
Last week Montana West Economic Development and the Montana World Trade Center co-hosted a luncheon fea- turing members of the Canadian Con- sulate, including Trade Commissioner Stephen Davis and Senior Trade Spe- cialist Jerome Pischella. The event drew more than 80 people to the Hilton Gar- den Inn in Kalispell.
According to Pischella, Montana business owners have a lot to gain by familiarizing themselves with Canada. Although the two places are similar in many ways, they are at once vastly dif- ferent, he said.
“We really just don’t know one an- other. Americans think they know Can- ada, but they don’t,” he said. “It’s eas- ier to do business with each other if we know one another.”
Pischella recommended business owners become familiar with the differ- ent regulations and standards between
the U.S. and Canada. That also includes knowing simple yet significant factors, such as the strict law barring Americans who have a DUI from crossing the bor- der into Canada.
“The laws can change a lot from one another,” he said, adding that the Con- sulate continues to work to harmonize business regulations between the two countries to improve commerce.
Tourism and real estate are the two industries that benefit most from Cana- dian business, but others, such as man- ufacturing and technology, have ample opportunities to grow, according to Kim Morisaki, business development man- ager at MWED.
“Most Canadians only connect
us with tourism. But we make a lot of things in this valley. Now how do we get that message out?” she asked.
That’s the goal of an upstart task force developed in the valley in the last year, featuring local business owners and city officials who are researching opportunities for expanded commerce between Montana and Canada.
“We’re trying to build up more per- sonal relationships and business rela- tionships. But you have to get people in a room to talk to each other and find out what they have in common,” Morisaki told the Beacon after the event. “It’s net- working.”
The dynamics are changing, too. The global oil benchmark plunged almost 50
Have you
percent in 2014, dropping to roughly $50 a barrel last week, the lowest price in nearly six years. In light of the dropping benchmark, gasoline futures for Febru- ary settled at $1.34 a gallon, and diesel hit $1.71 a gallon.
The impacts are significant in Al- berta, where the oil and gas industry is largely tied to the economy. Crude pe- troleum is the top Canadian import in Montana, worth $4.3 billion, according to government data.
The Canadian dollar has also dropped in value compared to the Amer- ican dollar, a further disincentive for travelers crossing into Montana.
“For Montana’s tourism, that means fewer dollars from Canadians,” Pischel- la said.
“That also means Montana has more purchasing power in Canada.”
The potential dip in tourism is a good reason to diversify the business ties between Canada and Montana, he said.
“I was really encouraged that there’s so many people who recognize how im- portant the relationships with Canada are, just for the general business envi- ronment here,” Morisaki said. “Tourism and real estate are terrific, but there are other opportunities as well.”
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“WE REALLY JUST DON’T KNOW ONE ANOTHER. AMERICANS THINK THEY KNOW CANADA, BUT THEY DON’T. IT’S EASIER TO DO BUSINESS WITH EACH OTHER IF WE KNOW ONE ANOTHER.” JEROME PISCHELLA, SENIOR TRADE SPECIALIST
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