EDC opens 4th representation in Latin American in Lima, Peru

    LIMA, Peru, May 13 /CNW Telbec/ - Export Development Canada (EDC) today
opened its fourth representation in Latin America in Lima, Peru, continuing to
expand upon the growing trade between Canada and the greater Andean region.
    "Peru and the Andean region offer Canadian companies excellent
opportunities in the mining, energy, infrastructure and telecom sectors, and
EDC's presence in the market will help them win more of that business," said
Eric Siegel, President and CEO of EDC.
    "EDC has seen a direct and immediate result in expanding Canadian supply
and products in areas where it has representation, and we are confident that
Canadian business in this lucrative market will reap the benefits."
    Two-way merchandise trade between Canada and Peru totalled over $2.8
billion in 2008, a 15 per cent increase since 2007. Canada is the world's
largest investor in Peru's mining sector and many Canadian mining service
companies have offices in the country. EDC facilitated more than $291 million
in Canadian trade and investment in Peru in 2008, and its business volumes in
the greater Andean region totalled $1.2 billion.
    In 2008, EDC provided financial solutions for 266 Canadian firms doing
business in the Andean region.
    Stephen Benoit will be EDC's new permanent representative for the Andean
based in Lima, Peru, where he will lead EDC's business development strategy in
these regions.
    "These are challenging times for all Canadian businesses, but EDC
believes that there are still some great opportunities for companies willing
to explore the Andean region, especially Peru," said Mr. Benoit.
    "There is currently significant demand in key sectors that match up very
well with Canadian supply and expertise," he added.
    Stephen Benoit joined EDC in 2006 after 15 years living and working in
Latin America. For more than 25 years, he has worked in all facets of
international commerce including business development and finance. Prior to
joining EDC, Stephen was a Managing Partner at Global Marketing & Services, a
private consulting firm from La Paz, Bolivia and Caracas, Venezuela. Mr.
Benoit was educated in Ottawa where he received a Bachelor of Arts degree from
Carleton University.
    Lima joins Mumbai, New Delhi, Beijing, Shanghai, Singapore, Moscow,
Warsaw, Abu Dhabi, Rio de Janeiro, São Paulo, Santiago, Mexico City, and
Monterrey as a site of permanent EDC representation.

    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 8,300
Canadian companies and their global customers in up to 200 markets worldwide
each year. EDC is financially self-sustaining, 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: Phil Taylor, Export Development Canada,
(613) 598-2904, Blackberry: ptaylor@edc.ca; Stephen Benoit, Blackberry:

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