In a previous article, we discussed the increased role that Canada's ethnic communities must play in order for our economy to flourish. If one is to look at the top 20 fastest growing economies as measured by GDP they will find nations such United Arab Emirates, Trinidad & Togo, Estonia, Angola on this list. Many of these countries nations are not what we would consider to be powerhouses. However, when we look at the United Arab Emirates, they are growing at a 35% clip. Canada in particular Toronto is filled with rich cultural and ethnic communities. It is time of us to leverage this cultural and ethnic diversity to our advantage. How can we do this?
First, the Ministry of International Trade needs to hire professionals who have similar ethnic backgrounds and cultures among the fastest growing economies in the world. India is Canada's 19th largest trading partner year to date, representing a year over year growth rate of approximately 13.6 per cent. While the growth rate sounds impressive, do we know how many Canadians of Indian descent work for the Ministry of International trade federally and provincially? The importance of our trade officials looking like the markets we are targeting can not be over stated. It not only has a positive impact on our trade relations but it sends a strong message to the rest of Canada. The message is "Canada is going to compete globally and we will work the best people in the South Asian community to make it happen". It would also be a wise political move being that South Asians will represent one of the two largest Visible Minority groups in the Greater Toronto Area.
Second, Canadian companies need to start promoting and training visible minorities in more strategic roles such as Marketing, Business Development and Finance. A manufacturer of drilling equipment used by mining companies could find a lot of business in the southern portion of Africa. However, there are hardly any black/African executives within these organizations who would have an innate understanding of the cultural norms within these African nations. The common argument for the lack of visible minorities in executive positions tends to sound like this "... There are not enough qualified people..." If there is a skills gap, organizations must take immediate steps to fill these gaps. According to Stats Canada, Visible Minorities are making 15 per cent less annually than the rest of the population. It is time to take Visible Minorities out of the back rooms and leverage their cultural expertise to drive revenue growth in these emerging economies. In turn, Visible Minorities must take their own initiatives to ensure that the best minds within their communities are learning the vital skills necessary to compete in the global economy.
Lastly, we need to see more programs and initiatives surrounding global business expansion between our various Chamber of Commerce branches and cultural groups. These initiatives can focus on linking global business trends with education or providing knowledge transfer between business and cultural groups. For instance, the Mississauga Board of Trade could appoint ethnic focused on each of the top 30 fastest growing economies. The purpose of these sub groups would be to provide the cultural and social education about these targeted nations. Being that over 160 nations is represented in the Greater Toronto area alone - this should not be difficult. However, for our society to execute these types of programs we have to be willing to break out of our individual comfort zones.
By deploying cultural resources in the Ministry of International Trade, the Private Sector and within Business Associations—Canada can grow its economy and start to build bridges between various ethnic groups. The job losses since the Canadian Dollar moved above parity has illustrated that we don't have much of a choice when it comes to strengthening our trade relations with other nations. These suggestions will require training, workshops and more importantly an open mind. No, it will not be easy but necessary. It is time for us to leverage our cultural diversity to grow our economy. Let's start working on this now!
Radcliffe Dockery is the President of HigherEye Training & Consulting, a firm specializing in Targeted Ethnic Marketing and International Trade.
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