EDC's presence in Atlanta is expected to increase trade between Canadian SMEs and key states in the southeast
OTTAWA, April 25, 2019 /CNW/ - This week, Export Development Canada (EDC) launched its first representation in the United States, choosing Atlanta, Georgia as its headquarters for building Canadian exports and investment into the fast-growing economies of the U.S. southeast – Tennessee, Florida, North and South Carolina and Georgia.
A high-priority region for Canadian companies, especially small- to medium-sized enterprises (SMEs), EDC's presence is about more than increasing their business in the southeast. For many companies, presence in the region can be a springboard into other global markets. In this way, EDC's representation in Atlanta will not only grow exports there, but also help Canadian companies diversify into new markets.
"Success in international trade is about more than getting goods and services across the border. It's about making connections with people and establishing quality relationships to open doors to new opportunities," said Mairead Lavery, President and CEO of EDC. "We're better placed to do that by being on the ground in Atlanta, helping Canadian SMEs grow internationally, expanding Canada's global footprint, and strengthening the economy at home."
A large part of EDC's activities will focus on partnering with regional banks to provide financing to major U.S. corporations and project owners either already buying from Canadian suppliers or with a strong potential to. Establishing financial relationships will also equip EDC to learn more about the needs of buyers and facilitate tailored introductions to Canadian suppliers, particularly SMEs, who can meet those needs. We will also be better placed to facilitate Canadian direct investment into the southeast region and help companies grow their presence there. The Trade Commissioner Service in Atlanta will be a key partner working alongside EDC to help achieve these goals.
"The opening of EDC's new representation in Atlanta demonstrates the federal government's commitment to expand Canadian exporters' awareness of the opportunities available to them in the international market, both near and far. Whether they're in the critical first steps or jumping into expansion, these services will benefit Canadian exporters," said Minister of International Trade Diversification, Jim Carr.
Roughly three quarters of Canada's exports are U.S. bound, our largest market by far. It is also the most attractive market of first entry for new Canadian exporters. EDC's research shows that 80 per cent of first-time exporters intend to start in the U.S.
Atlanta is EDC's 19th international representation. The corporation also has locations in Mexico City, Monterrey, Bogotá, Lima, Santiago, Rio de Janeiro, São Paulo, Düsseldorf, Istanbul, London, Johannesburg, Dubai, New Delhi, Mumbai, Beijing, Shanghai, Singapore, and Sydney. In May EDC will launch its second U.S. representation – and it's 20th internationally – in Chicago.
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to take on the world with confidence. Underlying all our support is a commitment to sustainable and responsible business.
For more information and to learn how we can help your company, call us at 1-888-434-8508 or visit www.edc.ca.
SOURCE Export Development Canada
For further information: Simon Forsyth, Export Development Canada, (613) 598-3852, [email protected]