EDC opens permanent representation in Chile

    SANTIAGO, CHILE, May 14 /CNW Telbec/ - Export Development Canada (EDC)
today opened a permanent representation in Santiago, Chile, to better serve
its customers and partners throughout Chile.
    Bilateral trade between Canada and Chile totalled over $2.45 billion in
2007, a 146 per cent increase since 2000. Canada is the largest investor in
the Chilean mining sector and Chile's third largest investor overall. Chile is
Canada's second largest investment market in Latin America. EDC facilitated
some $835 million in Canadian trade and investment in Chile in 2007.
    "The opening of our permanent representation in Santiago comes at an
opportune time, just as the Canada-Chile Free Trade Agreement leads to greater
cooperation in such areas as energy, environment, mining, pulp and paper and
financial services," said Eric Siegel, President and CEO of EDC. "EDC's new
permanent representation will enable us to enhance our relationships with
companies in the region and to promote Canadian expertise and suppliers."
    In 2007, EDC provided financial solutions for 236 firms in Chile, more
than half of all Canadian firms operating in the region. Over 100 of these
companies make Santiago their South American base, and some 70 companies have
offices in the northern and southern provinces of Chile where the mining and
forestry sectors focus their operations.
    Christian Daroch is EDC's new permanent representative in Chile,
reporting to Claudio Escobar, EDC's Vice-President for Brazil and the Southern
Cone. Mr. Daroch will lead EDC's business development strategy in Chile,
working closely with staff at the Canadian Embassy in Santiago, where he will
be based. Mr. Daroch has more than 12 years of relevant Chilean and
international experience across many industries, in various corporate finance,
business development and project finance roles. A native of Santiago,
Mr. Daroch holds an MBA from the University of Ottawa, an Industrial
Engineering degree from the Universidad Catolica of Chile, and a Diploma in
Corporate Finance from the Universidad Adolfo Ibanez.
    Santiago joins Mumbai, New Delhi, Beijing, Shanghai, Kuala Lumpur,
Moscow, Warsaw, Abu Dhabi, Rio de Janeiro, Sco Paulo, 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 nearly 7,000 Canadian
companies and their global customers in up to 200 markets worldwide each year.
EDC is financially self-sustaining, is a recognized leader in financial
reporting and economic analysis, and has been named one of Canada's Top
100 Employers for seven consecutive years.

For further information: Phil Taylor, Export Development Canada, (613)
598-2904, Blackberry: ptaylor@edc.ca; Christian Daroch, Mobile: (567)
888-8632, Blackberry: cdaroch@edc.ca