EDC AGREEMENT PROMOTES CO-OPERATION WITH EXIMBANK ROMANIA

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OTTAWA, December 22, 2004 -- Canadian and Romanian companies partnering on export contracts can benefit from a new agreement signed between Export Development Canada (EDC) and Banca de Import Export a Romaniei (Eximbank Romania). The agreement is aimed at promoting co-operation and coordination between the two export credit agencies with respect to their various financing, insurance, re-insurance and guarantee activities. It will encourage Canadian investment in Romania, strengthen trade contacts and establish an ongoing relationship between the two organizations. This will facilitate the exchange of information about potential projects and programs, as well as provide guidelines for entering into specific financing transactions. "Canadian and Romanian companies working together to pursue business opportunities in third markets will be well served by the alliance of Eximbank Romania and EDC", said Acting EDC President Gilles Ross. "As business becomes more globalized and interconnected, the collaboration of our export credit agencies, in support of Canadian and Romanian enterprises partnering to export or invest abroad, is very timely", added Mr. Ross. In 2003, EDC extended CAD 51.9 billion in trade finance and risk management services to finance or insure export sales and investments by 7,172 Canadian companies in 182 markets. Eximbank Romania's mission is to support Romania's foreign trade through specialized financial and insurance instruments. Set up in 1992 as a joint stock company, Eximbank Romania is the sole institution within the Romanian financial system operating as both a bank and an export credit insurance agency. EDC provides trade finance and risk management services to Canadian exporters and investors in up to 200 markets. Founded in 1944, EDC is a Crown corporation that operates on commercial principles. -30- Media contact: Glen Nichols EDC-Public Affairs Tel.: (613) 598-2876 E-mail: glnichols@edc.ca

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2016-12-15

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EDC AGREEMENT PROMOTES CO-OPERATION WITH EXIMBANK ROMANIA

News Release

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