EDC business in South Africa grows by 162 per cent since 2003

    JOHANNESBURG, South Africa, Sept. 30 /CNW Telbec/ - Export Development
Canada (EDC) today announced that its business volumes in South Africa have
grown by 162 per cent since 2003.
    "Trade between South Africa and Canada continues to grow at a strong pace
thanks to the natural match between South Africa's major infrastructure needs
and Canadian expertise in infrastructure, telephony and extractive technology
and services," said Stephen Poloz, Senior Vice-President, Financing Products
    Mr. Poloz, who is in Johannesburg today to deliver a keynote speech to
South African business leaders, also said that "EDC's focus for the immediate
future will be to grow our partnerships with South Africa's main financial
institutions and begin offering financing in rands where needed to broaden our
presence in the market."
    EDC is currently most active in the extractive sector. The information
and communication technology sector is also a growing sector for EDC, as are
exports from Canada's light manufacturing sector. Canadian expertise in
infrastructure, notably power, rail, ports and pipelines, is world leading.
    Canadian companies are very active in South Africa. Recently, Bombardier
began building the country's first underground urban transit system and SNC
Lavalin won a contract to build Phase II of the Pebble Bed Modular Reactor
Demonstration Power Plant at Koeberg. McCain Foods has a large production
facility in Viljoenskroon and Barrick Gold has substantial mining assets
across the country.

    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 eight consecutive years.

For further information:

For further information: Media contacts: Phil Taylor, Export Development
Canada, (613) 598-2904, BlackBerry: ptaylor@edc.ca; Rizwan Haider, Regional
Manager, Africa, (613) 513-5493, BlackBerry: rhaider@edc.ca

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