EDC
establishes representation in Singapore
Export Development Canada (EDC) established a
representation in Singapore to
better serve its customers and partners in Southeast Asia.
“As a major financial and commercial centre, Singapore is a
gateway into the Asian economy,” said EDC President and CEO Eric Siegel, who is
in Singapore to meet with Canadian and local business leaders. “Singapore is
already home to more than 80 Canadian companies, key Asian financial partners
and many EDC clients. We aim to leverage these relationships to create even
more opportunities for Canadian exporters and investors.”
Singapore
ranks among Canada’s top 25 export markets, while Southeast Asia as a whole is among Canada’s top
10. Singapore is also Canada’s third largest investment destination in Asia
(after Hong Kong and Japan), with direct investments totaling $3.3 billion in
2007. Canada is negotiating a free trade agreement with Singapore, and foreign
investment promotion and protection agreements with Indonesia and Vietnam.
EDC first established a Southeast Asia
representative in 2004, based in Kuala Lumpur,
Malaysia. Since then, exports and investments in the region facilitated by EDC
have grown from $920 million to $1.5 billion. Total Canadian exports of goods
and services to Southeast Asia were $4.5 billion in 2007.
Robert Simmons, EDC’s Chief Representative for Southeast Asia,
will now be based in Singapore,
bringing him closer to the majority of Canadian companies and financial partners
in the region. “Singapore
is a leading centre of growth in information technology, bio-technology, energy,
transportation and financial services, each a good match with Canadian expertise
and services,” said Mr. Simmons.
Singapore
joins Mumbai, New Delhi, Beijing, Shanghai, Moscow, Warsaw, Abu Dhabi, Rio de
Janeiro, Săo Paulo, Mexico City, Monterrey and Santiago as a site of 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 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 seven
consecutive years. |
|
