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assets and to me it's a shame and a missed opportunity in this business. We have such fantastic resources to seize the opportunity and go to foreign enterprises and we're not seeing Canadian companies take advantage of international acqui- sitions. It's a trend I'd like to see reversed," says Smith, noting that Wal-Mart is in India developing a retail business. "Given our experi- ence with logistics over long dis- tances and retailing it would seem there would be some opportunities for Canadian companies." Countries like China and India have seen a 10-per-cent increase in personal income over the last few years creating a growing desire for protein products. That demand should be fuelling Canadian invest- ment in providing resources such as grain to fulfil those needs. "We have They have a lot of food supply but a lot of it rots before it gets to the markets it needs to be in." Foreign companies are also looking for opportunities to make acquisitions in Canada that will allow them to take something back to their own markets, whether that's processes or good brands they can leverage. But while some see Canada as a lead- er in food production and innovation, it also risks falling behind, according to experts who follow the sector. "I think there are terrific opportunities in the developing economies that we could be taking advantage of to get in early in the market development," says Ken Smith, associate dean of executive programs and associate professor in the College There are things Canada is known for and it's not just oil, gas, and mining — food would fall into that as well. Kristian Knibutat, PRICEWATERHOUSECOOPERS CANADA of Management and Economics at the University of Guelph. Smith spoke at a conference in Toronto last November called Growth in the Food Industry, hosted by Blakes. He pointed to countries such as India where distribution and logistics sys- tems need to be developed. "We are a significant net seller of corporate a high opportunity to grow the export market but we're not doing a good job of this," says Larry Martin, a senior research fellow with the George Morris Centre, Canada's only independent agri- food think-tank. "What have we done to get access to the Asian market? Nothing. We don't have access to markets where meat consumption is growing." ... to help you navigate legal obstacles, outside your window and around the world... Your lawyer. Your law firm. Your business advisor. BennettJones-2_IH_Dec_11.indd 1 INHOUSE FEBRUARY 2012 • 11-11-25 10:35 AM 23