Scott Moore, executive vice president and chief financial officer of EDC, highlighted Canada’s strength in seafood, including premium products like salmon, lobster, clams, oysters and other shellfish.
High-quality seafood from Canada has historically performed well in markets such as Japan, China and Korea, with further expansion potential in South East Asia, including Indonesia and Vietnam.
Speaking to AgTechNavigator, Moore said that Canadian seafood was competitive with established suppliers, including Japan.
To reinforce Canada’s premium positioning in seafood, EDC has identified branding and international awareness as critical areas of focus.
Aside from seafood, Moore highlighted Canada’s strengths in producing traditional proteins like beef, lamb, and pork, and also plant-based proteins.
“I think there’s huge opportunity for Canada, given that we have such a leading position in all the pulses and lentils and peas... There’s potential to convert these into higher-value products whether it’s core proteins in the form of tofu or otherwise, or snacks of various forms.”
Jeremy Melhuish, vice-president, sector and international advisory services, EDC, added that Canada was well-positioned to meet diverse demands for plant-based proteins that can be tailored into various products for different markets.
“[Asia] is not a unified market… Depending on which market you’re talking about, there’s going to be the opportunity to find a niche crop from Canada that will be suited to that market.”
‘Taking Asia seriously’
EDC is an export credit agency supporting approximately 20,000 companies annually and 475,000 jobs nationwide.
It facilitates around $100bn in trade each year, contributing an estimated 3% to Canada’s GDP in 2025.
It operates 12 offices across 10 countries, primarily in major capital cities, including a full-service branch in Singapore.
Moore emphasised the organisation’s commitment expanding Canada’s export footprint in Asia.
“In this part of the world, we’ve taken it much more seriously. We have about 40 people in Marina Bay Financial Centre, and they can do underwriting, due diligence – all the steps in a transaction, almost. We will get to a point pretty soon where we can get all the way through a transaction approval here, which is very helpful in terms of time zone. We’re taking this very seriously in terms of what we do here,” said Scott Moore, executive vice president and chief financial officer of EDC.
In Asia, the organisation supports around 1,500 companies and facilitates approximately $10bn in trade into the region, marking year-on-year growth of about 14%.
Its Asian portfolio is now comparable in size to its portfolios in Europe and Latin America, representing a significant milestone given the historical dominance of those regions.
‘A wake up call’
For many Canadian companies, including those in food, the US has historically been a large, accessible, and relatively straightforward market.
A shared language, cultural familiarity, geographic proximity, and established infrastructure made it easy for companies to invest confidently there.
According to EDC data, US accounted for 61% of total agrifood exports in 2024. This was followed by Asia – excluding China – at 13%. The US was also the majority importer of seafood at 67%, followed by China at 16%.
However, recent disruptions have highlighted the risks of relying solely on the US as Canada’s primary export market.
This has caused them to reconsider their export strategy and explore ways to de-risk their operations by diversifying beyond North America.
“This is creating a moment in time for Canadians and for Canadian companies. I’d actually say this is a bit of a wakeup call and that they actually need to have more partners around the world,” said Moore.
Moore believes Canadian companies are now motivated to diversify but for many of them, Asia represents a more daunting move to make.
“For Canadians, the moment you consider somewhere other than the US, Europe or Mexico usually comes to mind first. This is because of proximity, geography, familiarity from travel, existing personal or professional connections, and, in many cases, historic or family links.”
Canada faces several export challenges when entering Asian markets.
Even though the countries may be geographically close, regulatory environments, distribution requirements, and culture can vary significantly.
EDC supports companies by helping them choose target markets and navigate trade agreements, logistics, customs processes, buyer identification and regulatory requirements. It also provides knowledge products designed to guide exporters through these steps.
