OTTAWA, Feb. 14, 2012 /CNW/ - Export Development Canada (EDC) today
announced the signing of an agreement with the China Development Bank
Corporation (CDB) to identify projects between Chinese and Canadian
companies that could be facilitated through partnered financing.
The signing ceremony was witnessed by the Prime Minister of Canada, the
Right Honorable Stephen Harper, and the Vice-Premier of The People's
Republic of China on the occasion of the 5th Canada China Business Forum. The Forum was held on February 9, 2012 in
Under the agreement, EDC and CDB will focus on key sectors including
transportation and aerospace, but will also encompass the machinery,
energy, mining, and green technology sectors.
"For Canadian companies, having reliable long-term partners to support
their export and investment efforts in China is vital to their success,
and this partnership gives Canadian exporters access to an experienced
and influential financier," said Rajesh Sharma, Senior Vice-President,
International Business Development, EDC.
While negotiating the agreement, EDC and CBD have already undertaken the
development of potential financing structures that could be announced
in the coming months.
Looking forward, EDC and CBD have also identified potential future
opportunities to collaborate in the civil aviation sector, recognizing
the strength of Canadian companies therein and the strength of demand
within the Chinese market. Other potential sectors where there is
interest and potential to bring both Canadian and Chinese content
together are high speed rail, oil and gas projects are also underway.
EDC has two permanent representations in China, located in Shanghai and
Beijing. In 2010, 375 Canadian companies used EDC products and
services to help undertake more than CAD 4.0 billion in trade within
the Chinese market.
Canadian merchandise exports to Canada for the period January to October
2011 were up 33 per cent year-on-year, reaching CAD 12.8 billion. This
equals the total merchandise export trade to China from Canada for all
In 2010, 954 Canadian exporters and investors in the transportation
sector used EDC products and services to facilitate more than CAD 9.8
billion in international business.
Regionally, 2,753 Quebec companies undertook more than CAD 22 billion of
their global trade using EDC's products and services in 2010.
EDC has a permanent presence in Shanghai, Beijing, Singapore, Mumbai,
New Delhi, Moscow, Istanbul, Düsseldorf, Abu Dhabi, Rio de Janeiro, São
Paulo, Lima, Mexico City, Monterrey, Santiago and Panama.
For more information about CDB, visit http://www.cdb.com.cn/english/index.asp.
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 8,200 Canadian companies and their global customers in up to
200 markets worldwide each year. EDC is financially self-sustaining and
a recognized leader in financial reporting and economic analysis.
SOURCE Export Development Canada
For further information:
Export Development Canada
Tel: (613) 598-2904