(JOHANNESBURG) – June 25, 2009 – Canadian companies are well-positioned to be involved in infrastructure and other key business opportunities in South Africa, said Stephen Poloz, Senior Vice-President of Financing Products Group, Export Development Canada (EDC).
“There are plenty of opportunities for Canadian businesses to help South Africa build much-needed infrastructure, from green building solutions to transportation to communications technologies to the investments being made leading up to the 2010 World Cup in construction and infrastructure,” Mr. Poloz told senior business leaders from South Africa and Canada at a reception hosted jointly by EDC and the Canadian High Commission.
Mr. Poloz and EDC's Ottawa-based Chief Representative for Africa and the Middle East, Rizwan Haider, are in South Africa this week for high-level meetings with South African buyers, Canadian exporters and local banks.
In the first five months of 2009, EDC business in South Africa is running well ahead of last year with CAD 310 million in business facilitated based on a significant increase in information and communications technology investment.
Last year, EDC facilitated CAD 412 million in trade and investment in a diverse range of sectors of the South African economy such as: extractive, information and communication technology, infrastructure and environment, light manufacturing, resources, and transportation.
“South Africa has been directly impacted by the global slow down, along with virtually every other country, and the authorities are responding with much-needed infrastructure projects,” said Mr. Poloz. “EDC is working alongside colleagues from the Department of Foreign Affairs and International Trade Canada to create new trade opportunities when global trade is faltering and risks are high.”
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 recognized as one of Canada's Top 100 Employers for eight consecutive years.
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Media contact:
Phil Taylor
Export Development Canada
Tel: (613) 598-2904
Blackberry: ptaylor@edc.ca
Rizwan Haider
Export Development Canada
Tel: (613) 598-3234
rhaider@edc.ca
