(OTTAWA) July 18, 2007 To help foster increased trade between Canada and South America, Export Development Canada (EDC) is expanding on the continent by establishing its third permanent representative to be based in Santiago, Chile.
“Canada was the first member of NAFTA, the OECD and the G-7 to sign a free trade agreement with Chile, recognizing its importance in 1997 as a base from which Canadian companies can manage investments from around the region and foster business relationships,” said Eric Siegel, President and Chief Executive Officer of EDC. “Today, EDC looks to deepen its relationship with this vital South American commercial hub with the announcement of a third EDC representation in the region.”
Santiago joins Mumbai, New Delhi, Beijing, Shanghai, Kuala Lumpur, Moscow, Warsaw, Rio de Janeiro, São Paulo, Mexico City and Monterrey as a site of permanent EDC representation.
“EDC facilitated more than 50 per cent of Canadian exports to Chile in 2006 and our 2007 business volume in the region is already quite strong,” continued Mr. Siegel. “The Santiago representation reflects, as it should, the natural market evolution of the Southern Cone, a region where Canadian exporters want to be.”
The Santiago representative will work to identify transaction opportunities for Canadian exporters and investors through relationship development, partnering with local banks, companies and intermediaries, collaborating with Canadian Embassy and Consulate General officials, local chambers of commerce and key industry associations, and providing enhanced market intelligence.
EDC is consulting with local business to identify an experienced professional from the region to represent the Corporation. EDC expects to be in place in Santiago early in 2008.
EDC recognizes the growing importance of Chile to Canadian exporters and has facilitated, on average, more than CAD 355 million in business volume per year since 2000. In 2006, EDC provided commercial solutions to 178 Canadian companies exporting and operating in Chile.
EDC 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 6,400 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 has been named one of Canada’s Top 100 Employers for six consecutive years.
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Media contact:
Phil Taylor Public Affairs Export Development Canada (613) 598-2904 ptaylor@edc.ca
Claudio EscobarChief Representative, Brazil and Southern ConeExport Development Canada011 55 11 5509 4320cescobar@edc.ca
