EDC and ACOA sign agreement to foster trade and foreign direct investment in Atlantic Canada

(Halifax) September 5, 2007 – Export Development Canada (EDC) and the Atlantic Canada Opportunities Agency (ACOA) today signed a Memorandum of Understanding to develop trade and foreign direct investment opportunities in Atlantic Canada.

The five-year agreement, which was signed in Halifax by Eric Siegel, President and CEO of EDC, and Monique Collette, President of ACOA, is geared towards helping enhance the ability of Atlantic companies to compete internationally.

“Strategic partnerships like today’s agreement with ACOA play a key role in helping us reach smaller and more niche-focused exporters to provide commercial solutions that can help them grow their business internationally,” said Mr. Siegel.

“ACOA is committed to helping Atlantic Canadian businesses increase their exports to international markets,” said Mme. Collette. “New opportunities like these are central to the region’s economic potential.”

Under the terms of the Memorandum of Understanding, EDC and ACOA will share information on export and investment opportunities of interest to both organizations, invest jointly in trade-related initiatives such as research, training and skills development, and actively engage other government organizations, industry and academia on subjects of mutual interest.

To enhance joint outreach activities and provide added value for Atlantic exporters, an ACOA-EDC Working Committee will work together on developing joint trade and investment activities. EDC will also participate in ACOA-led efforts such as the International Business Development Agreement Annual Sector Workshop, ACOA Trade and Investment meetings, and Team Canada Atlantic Operations Committee meetings.

The Atlantic Canada Opportunities Agency (ACOA) is a federal government department dedicated to the economic development of Atlantic Canada. ACOA works with businesses, business organizations, provincial governments and other federal departments to help create more and better employment opportunities in Atlantic Canada.

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 6,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting and economic analysis, and has been named one of Canada’s Top 100 Employers for six consecutive years. www.edc.ca.