Minister Fast Announces Export Development Canada to Expand Its Footprint into Africa
On-the-ground support in southern Africa will help Canadian small and medium-sized enterprises (SMEs) boost their exports and create jobs and opportunities at home, says Minister Fast
June 23, 2014 – Johannesburg, South Africa – Foreign Affairs, Trade and Development Canada
The Honourable Ed Fast, Minister of International Trade, today announced that Export Development Canada (EDC) will open its first African location next year in Johannesburg, South Africa.
EDC selected Johannesburg because of its economic position as the financial gateway to southern Africa. The city is a hub of established banking networks and Africa-based multinationals.
Through its Johannesburg-based team, EDC will focus on connecting more Canadian businesses, particularly small and medium-sized enterprises, to the growing supply chains within intra-African trade. EDC will be co-located in the Canadian Trade Office in Johannesburg and will benefit from the market knowledge of Canada’s Trade Commissioner Service already situated in Africa.
Minister Fast is on a 10-day, four-country trade mission to boost Canada’s trade and investment ties in Burkina Faso, Madagascar, South Africa and Tanzania.
- Working with other government partners and under Canada’s Global Markets Action Plan, EDC is Canada’s trade finance agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business.
- Each year, more than 7,100 Canadian companies and their global customers in more than 180 markets worldwide are supported by EDC’s knowledge and partnerships.
- Clients of the Trade Commissioner Service export 18 percent more goods and services to 36 percent more markets than do non-clients.
- In May, Minister Fast announced that Canada will open four new trade offices in China. He also announced that 25 trade commissioners will be embedded in business associations across Canada to support Canadian businesses domestically.
“Providing the tools and the support needed for our Canadian workers and businesses to succeed in global markets is our priority. When our SMEs export and win contracts around the world, they create jobs and opportunities at home.“
– Ed Fast, Minister of International Trade