The federal government will launch a trade diversification plan in the new year as part of its broader defence industrial strategy to help with efforts to double Canada’s exports to non-U.S. markets within the next decade, International Trade Minister Maninder Sidhu said Tuesday. (The Logic)

Talking point: Those merchandise exports were up 11 per cent in September—a trend that Prime Minister Mark Carney wants to bring in an additional $300 billion by 2035. Sidhu said the ability of Canadian firms to bid on military procurement contracts in the European Union is one way to get there. “Canada has never invested this much in defence since the 1950s and so there’s ample opportunities for defence exports,” he said in an interview. Sidhu recently launched public consultations on trade talks with India, the United Arab Emirates, Thailand and the Mercosur market, which includes Argentina, Brazil, Paraguay and Uruguay.