MUMBAI, India, March 14 /CNW Telbec/ - Export Development Canada (EDC)
today announced that it will expand its activities in India through the
establishment of a second permanent representation, to be located in Mumbai.
"India is a priority market for Canada. There are enormous opportunities
for Canadian companies and this new officer will help them develop
relationships with Indian customers," said the Honourable David Emerson,
Minister of International Trade and Minister for the Pacific Gateway and the
Vancouver-Whistler Olympics. "Establishing permanent EDC representation is an
important step in taking this commercial relationship to the next level."
Mumbai joins New Delhi, Beijing, Shanghai, Kuala Lumpur, Moscow, Warsaw,
Rio de Janeiro, Sco Paulo, Mexico City and Monterrey as a site of EDC's
"Canadian direct investment in emerging markets like India will continue
to grow as Canadian companies look to globalize their supply chains," said
Eric Siegel, President and Chief Executive Officer of EDC. "Our presence here
is a direct response to where our customers want to go. We selected India's
commercial centre of Mumbai as EDC's second Indian representation to
facilitate more trade in a pivotal market for Canadian exporters and
The Mumbai representative will work to identify and pursue transaction
opportunities through relationship development, partnering with local banks,
companies and intermediaries, collaborating with Canadian High Commission 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 Mumbai during the fall of 2007.
Canada exported CAD 1.5 billion in goods to India in 2006, much of which
was concentrated in paper products, vegetable products, machinery and
chemicals. Since the opening of the New Delhi representation, EDC-facilitated
trade and investment with India grew from CAD 375 million in 2005 to CAD 730
million in 2006.
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 7,000 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.
For further information:
For further information: Media contact: Phil Taylor, Public Affairs,
Export Development Canada, (613) 598-2904, email@example.com; Peter Nesbitt,
Chief Representative, India, Export Development Canada, firstname.lastname@example.org