(OTTAWA) January 29, 2007 Export Development Canada (EDC) and Corporación Financiera de Desarrollo S.A. (COFIDE), a Peruvian Government financial development agency, have signed a cooperative agreement today that outlines opportunities for greater Canadian trade and investment with Peru.
The agreement was signed by Eric Siegel, President and CEO of EDC and His Excellency Guillermo Russo, Ambassador to Canada for Peru. The Honourable Juan Jose Salazar García, Peru's Minister of Agriculture, was also in attendance to witness the signing at EDC's global headquarters in Ottawa, Canada.
"Canada is one of the largest foreign investors in Peru with major activities in the mining, power and infrastructure sectors, and this agreement is a significant step in growing Canadian-Peruvian trade," said Mr. Siegel. "EDC's business volume in Peru averaged more than CAD 400M per year over the last five years, and our strong presence there means that we're well positioned to help Canadian exporters benefit from Peru's' ambitious expansion."
The agreement between EDC and COFIDE will initiate a cooperative program to identify specific areas of interest aimed at strengthening relations between the two trade institutions and evaluate the development of investment projects of interest to both parties in Peru.
"Today's agreement is built upon an already strong trade relationship and signals a strong desire by both countries to extend the reach of that relationship," said Ambassador Russo. "Peru is developing at a rapid pace, and relationships with global institutions like EDC can play an important part in helping Peruvians deliver upon their huge potential."
The agreement also identifies possibilities for Canadian capital in support of Peruvian public and private projects, technical support programs, the sharing of information, internship exchange programs and other initiatives of common interest.
While not a definitive list, sectors of focus will be municipal and transportation infrastructure projects; medical and scientific facilities; refinery and mining projects; power generation and information, telecommunications and security technologies.
Export Development Canada is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by 7,000 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and human resource management.
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Media contact: Phil TaylorEDC Public Affairs(613) 598-2904ptaylor@edc.ca
