(LIMA, PERU) – May 13, 2009 – Export Development Canada (EDC) today opened its fourth representation in Latin America in Lima, Peru, continuing to expand upon the growing trade between Canada and the greater Andean region.
“Peru and the Andean region offer Canadian companies excellent opportunities in the mining, energy, infrastructure and telecom sectors, and EDC’s presence in the market will help them win more of that business,” said Eric Siegel, President and CEO of EDC.
"EDC has seen a direct and immediate result in expanding Canadian supply and products in areas where it has representation, and we are confident that Canadian business in this lucrative market will reap the benefits.”
Two-way merchandise trade between Canada and Peru totalled over $2.8 billion in 2008, a 15 per cent increase since 2007. Canada is the world’s largest investor in Peru’s mining sector and many Canadian mining service companies have offices in the country. EDC facilitated more than $291 million in Canadian trade and investment in Peru in 2008, and its business volumes in the greater Andean region totalled $1.2 billion.
In 2008, EDC provided financial solutions for 266 Canadian firms doing business in the Andean region.
Stephen Benoit will be EDC’s new permanent representative for the Andean based in Lima, Peru, where he will lead EDC’s business development strategy in these regions.
“These are challenging times for all Canadian businesses, but EDC believes that there are still some great opportunities for companies willing to explore the Andean region, especially Peru,” said Mr. Benoit.
“There is currently significant demand in key sectors that match up very well with Canadian supply and expertise,” he added.
Stephen Benoit joined EDC in 2006 after 15 years living and working in Latin America. For more than 25 years, he has worked in all facets of international commerce including business development and finance. Prior to joining EDC, Stephen was a Managing Partner at Global Marketing & Services, a private consulting firm from La Paz, Bolivia and Caracas, Venezuela. Mr. Benoit was educated in Ottawa where he received a Bachelor of Arts degree from Carleton University.
Lima joins Mumbai, New Delhi, Beijing, Shanghai, Singapore, Moscow, Warsaw, Abu Dhabi, Rio de Janeiro, São Paulo, Santiago, Mexico City, and Monterrey as a site of permanent EDC representation.
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 more than 8,300 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining, a recognized leader in financial reporting and economic analysis, and has been named one of Canada’s Top 100 Employers for eight consecutive years.
-30-
Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
Stephen Benoit
Blackberry: sbenoit@edc.ca
