Thursday, November 15, 2007

EDC to establish representation in the GCC

by Phil Taylor from EDC via CNW Group (Canada)

Export Development Canada (EDC) today announced it will establish permanent representation in Abu Dhabi to foster increased trade between Canada and the Cooperation Council for the Arab States of the Gulf (GCC) and Yemen. The announcement came as Minister of International Trade David Emerson is in the UAE, leading a Canada-Arab Business Council trade mission to the region. "Canadian exports to the GCC have grown by 140% since 2001," said Minister Emerson. "As the region continues on its course of economic diversification, it's going to need an unshakeable foundation of transportation systems, power generation, environmental protection and urban planning. Canadian industries are widely recognized in these areas and are exceptional potential partners for such initiatives." More than 70 Canadian oil and gas companies are active in the GCC and Yemen, and more than 30 Canadian infrastructure and construction firms are active in the UAE alone. EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business.

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