EDC sets up in CAC
OTTAWA: Export Development Canada (EDC), Canada’s export credit agency, now has representation in Panama City to facilitate trade between Canada and the 34 markets in the Central America and Caribbean (CAC) region.
“This region’s most open economies—such as Panama, Costa Rica, Dominican Republic and Trinidad & Tobago—show growing trade and investment activity with Canada,” said Benoit Daignault, EDC’s senior vice-president of business development in Ottawa. “The billions in infrastructure, extractive and resources business that these markets represent make the region an excellent fit for Canadian expertise in these sectors.”
He said the region’s infrastructure investment over the next five years is estimated at over US$40 billion.
Two-way merchandise trade between Canada and the region averaged $7 billion annually over the past five years.
EDC said Canadian merchandise exports to the region have increased steadily prior to the 2009 recession, from $2 billion in 2005 to $3 billion in 2008.