Thomas Codrington
Consul General
Consulate General of the United Kingdom
Suite 800, 1111 Melville Street
Vancouver, BC V6E 3V6
phone: 604 683-4421 | email: ukincanada@fco.gov.uk
Location
The United Kingdom (England, Scotland, Wales, and Northern Ireland) is a major hub for trade and investment in Europe and globally. With London as a world-leading financial centre and strong logistics connections by air and sea, the UK is a natural entry point for Canadian companies into Europe and beyond.
Economy
- 6th largest economy in the world (GDP nominal, 2024).
- Services dominate, accounting for around 80% of GDP, with world-class expertise in financial services, insurance, legal, education, and creative industries.
- Advanced manufacturing, aerospace, clean energy, digital tech, life sciences, and agri-food also contribute strongly to the UK’s diversified economy.
- The UK is consistently ranked among the top destinations for foreign direct investment (FDI).
- Canada–UK Trade Continuity Agreement (TCA): Maintains preferential market access for Canadian businesses post-Brexit, ensuring continuity of tariff reductions and trade rules.
- Gateway to Europe: Although no longer in the EU, the UK remains a strong platform for serving European, transatlantic, and global markets through its trade networks.
- Financial & Innovation Hub: London is a global leader in finance, fintech, legal services, and venture capital, while cities like Manchester, Edinburgh, and Cambridge are thriving tech and research hubs.
- Business Environment: Transparent regulatory system, independent judiciary, and strong IP protections make the UK a stable place to invest.
- Talent & Education: A highly skilled, multicultural workforce, with strong university–industry linkages.
- Strong Bilateral Ties – The UK is Canada’s third-largest trading partner globally and a priority market under Canada’s trade strategy.
- TCA Advantages – Canadian companies benefit from tariff elimination on 98% of goods exports, protecting market access while negotiations continue toward a comprehensive Canada–UK free trade agreement.
- Complementarity – Canadian strengths in clean energy, aerospace, agri-food, ICT, life sciences, and financial services align with UK demand.
- Innovation Partnerships – Opportunities in AI, green technologies, health sciences, and digital trade are supported by research and funding collaborations.
- Diaspora & Cultural Links – Over half a million Canadians live in the UK, and millions of Canadians have family ties, creating strong cultural, business, and travel connections.
- Global Reach – Investing in the UK provides Canadian firms with access not only to local consumers but also to a global platform through London’s financial markets and international business networks.
Risk Considerations
- Post-Brexit regulatory divergence from the EU requires monitoring.
- Currency volatility (GBP/CAD) may impact costs and returns.
- Regional variations in policy between England, Scotland, Wales, and Northern Ireland.
Links & Resources
- Canada-UK Trade Continuity Agreement (official Global Affairs Canada page)
- About the Canada-UK Trade Continuity Agreement (explanatory page)
- Canada–United Kingdom relations (Global Affairs Canada)
- Doing Business in the United Kingdom (Trade Commissioner Service)
- Canada–U.K. trade insights & export opportunities (Export Development Canada)
- “UK-Canada Trade Continuity Agreement” (UK government guidance)
- Full PDF of the Trade Continuity Agreement (UK publication)
- Canada-UK Trade Continuity Agreement — full text (Global Affairs Canada)
