Market diversification has become more important than ever for New Brunswick’s many world-class exporters. As the economic landscape evolves and Canada works to diversify its trade relationships, Opportunities NB (ONB) continues to provide targeted programming and strategic support to help companies navigate these challenges and pursue new international markets.
While ONB Vice President of Investment and Trade Steve Milbury’s most recent visit to Japan and South Korea focused primarily on attracting foreign investment to New Brunswick as part of a larger Canadian delegation, the mission also reinforced valuable opportunities for New Brunswick’s exporters.
Strong demand in key growth sectors
Both countries continue to invest heavily in industries where New Brunswick companies have significant strengths.
“There is strong interest in sectors such as critical minerals, advanced manufacturing, battery technology, hydrogen, nuclear energy, AI, and cybersecurity,” says Milbury. “These are areas where New Brunswick has expertise, innovative companies, and growing capabilities.”
Japan and South Korea remain global leaders in advanced battery technology and are among the world’s most important automotive manufacturing nations, creating demand throughout the supply chain for critical minerals such as lithium and manganese. Meanwhile, the growing focus on clean energy continues to drive conversations around both hydrogen and nuclear power. “South Korea is among the world’s biggest nuclear energy countries, and New Brunswick is one of only two Canadian provinces that currently generates nuclear energy, so I see potential there for collaboration,” notes Milbury.
Food exports also remain an important opportunity. While New Brunswick seafood products such as lobster and salmon have already established a strong reputation in Asia, Milbury believes there is still room for New Brunswick companies to grow in those markets.
The mission also highlighted how rapidly businesses across Asia are adopting artificial intelligence to improve productivity.
“AI was a major topic throughout our discussions,” he says. “Companies are embracing it across industries, and it’s becoming an important part of how they stay competitive.”
Building relationships is key and ONB can help
Although both countries offer significant opportunities, Milbury said companies should recognize that each market will require extensive relationship-building efforts. “In both countries, they’re looking for strong, reliable partners,” he says. “Once you earn that trust, however, those relationships do tend to last.” Fortunately, he says Canada’s reputation as a stable, reliable, and trusted trading partner will work to New Brunswick’s advantage.
For companies considering these markets, Milbury encourages businesses to work closely with ONB’s Export Development Team and participate in government-led trade missions whenever possible. These missions provide valuable market intelligence, introductions to potential customers and partners, and support from Canadian embassies, consulates, and trade commissioners, helping businesses better understand local expectations and navigate cultural differences.
For New Brunswick exporters looking to diversify beyond traditional markets, Japan and South Korea offer many possibilities. With growing demand across several strategic sectors and the right support to enter these markets, our companies are well positioned to build lasting international partnerships and continue expanding their global reach.
ONB’s tailored support allows companies to efficiently enter, grow, and diversify your export presence. Learn more about the Market Entry Development Program or reach out to our team here.
