Export Development Canada (EDC) is establishing its first permanent representation in Southeast Asia, to meet the growing needs of Canadian exporters and investors in the region.
“Southeast Asia is an important region for Canadian exporters and investors, both for its own escalating growth and its proximity to the rest of Asia’s high-growth markets,” says EDC executive vice-president Eric Siegel. “With this posting, EDC will be better able to identify opportunities for Canadian businesses and their trading partners, and deliver the financing and insurance that can build trade and prosperity for Canada and Southeast Asia.”
Robert Simmons is EDC’s new representative in Southeast Asia, based in Kuala Lumpur, Malaysia. He will be responsible for all key markets in the region, including Malaysia, Thailand, Indonesia, Singapore, Philippines and Vietnam. Two of these markets, Malaysia and Thailand, are among the top 10 emerging market destinations for Canadian exporters and investors. Singapore, while not an emerging market, consistently ranks in the top 25 Canadian export markets, a position that is disproportionate to the size of the country.
EDC serves more than 200 Canadian exporters and investors in Southeast Asia. In 2003, EDC’s business volume in the region, the sales and investments underwritten or financed by EDC, was over CA$665mn.
Southeast Asia is the seventh location where EDC has established market representatives. The others are based in Brazil (Rio de Janeiro and Sao Paulo), Mexico (Mexico City and Monterrey), Central Europe (Warsaw, Poland) and China (Beijing).