TORONTO, Jan. 24, 2013 /CNW/ - Today, the Brazil Canada Chamber of
Commerce (BCCC) kicked off its 40th anniversary celebration by naming Scotiabank CEO Rick Waugh Person of
the Year for his efforts to improve the ties between Brazil and
Canada. Scotiabank is one of BCCC's oldest members.
Mr. Waugh thanked the chamber for the prestigious honour and said that
"Scotiabank is committed to developing the trade and investment
relationship between Brazil and Canada, including supporting the
ongoing efforts of the BCCC."
Scotiabank has been operating in Brazil with a representative office
since the early 1970s. With the acquisition of Dresdner Bank in 2011,
the Bank now offers its customers a wide range of corporate and
investment banking and capital markets products and services in the
In 2011, Mr. Waugh was appointed by the Right Honourable Prime Minister
Stephen Harper as the Canadian Co-Chair of the Canada-Brazil CEO Forum
and together with other business leaders is working to identify
practical ways to grow the trade and investment ties between Canada and
During his speech he outlined a few ways to deepen the economic ties
between the two countries. "The first thing we must do is continue to
promote to Canadians the importance of building strong relationships
with Brazil and countries across Latin America," said Mr. Waugh. "The
second thing is to encourage investment and trade and build on the work
that has already been done by business and government. And the third
thing we must do is encourage research, innovation and education
linkages between Canada and Brazil."
As this relationship continues to grow, Mr. Waugh outlined some key
priorities Canadian CEO's will be looking for Brazil to address
including, "perceived protectionism, high taxes and a complicated
He also said that "Canada needs to do more to align itself with the
global economy of the future by getting outside its comfort zone and
using its competitive advantages to reach new and fast-growing
One way to deepen the ties between the two countries is to "encourage
the flow of people, ideas and trade through partnerships and exchanges
involving businesses, students and citizens," said Mr. Waugh.
He concluded by saying that Canada is well positioned both to help
facilitate Brazil's growth and development and to gain some much needed
benefits from it. "What we need to understand is that neither country
can afford to go it alone to be competitive, either at home or abroad,"
said Mr. Waugh.
Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 81,000 employees,
Scotiabank and its affiliates serve some 19 million customers in more
than 55 countries around the world. Scotiabank offers a broad range of
products and services including personal, commercial, corporate and
investment banking. In December 2012, Scotiabank became the first
Canadian bank to be named Global Bank of the Year and Bank of the Year
in the Americas by The Banker magazine, a Financial Times publication. With assets of $668 billion (as at October 31, 2012),
Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS).
For more information please visit www.scotiabank.com.
SOURCE: Scotiabank - Sponsorships & Donations
For further information:
Andrew Chornenky, Scotiabank, 416-866-4826