Export Development Canada (EDC) has announced the launch of its Tokyo office, which it says will serve as a hub for Canadian exporters looking to enter Japan and the wider Asia Pacific market.

The export credit agency says the office will provide on-the-ground support, market insights and financial services to Canadian companies.

The move is part of a wider plan to establish relationships between Canadian companies and banks and counterparts across the Indo-Pacific, with EDC telling GTR last month it is just one year into a five- to seven-year export expansion strategy.

The Tokyo unit is headed by director Jean-Bernard Ruggieri, and staff will work closely with the agency’s Singapore hub launched seven years ago, the agency says.

EDC also has representation in Delhi, Mumbai, Shanghai, Beijing, Sydney, Jakarta and Seoul, and has plans to open in Ho Chi Minh City and Manila.

The agency’s president and chief executive, Mairead Lavery, says the opportunity to boost Canadian exports to Japan is “too big to ignore”, citing opportunities in cleantech, agriculture and biosciences.

George Monize, EDC’s managing director and head of Indo-Pacific, adds: “Japan has many of the critical elements for Canadian exporters’ expansion in this region.

“But to really thrive here—strong relationships are key. And that is why we are here, getting to know the market inside and out to forge the connections Canadian companies need to grow and succeed.”

Japan was the fifth-largest export destination for Canada last year, accounting for nearly 2% of its exports, and both nations are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

EDC says its Tokyo offering will serve as a “gateway to Asia” for Canadian companies seeking to diversify into high-growth markets.

“Boasting a trusted free market and a strong business and a regulatory environment supported by democratic institutions, the country serves as a strategic launchpad offering exporters easier entry into the region and subsequently into other Indo-Pacific markets,” it says.

Mary Ng, Canada’s minister of export promotion, international trade and economic development, says the office “is a testament to the enduring economic relationship between Canada and Japan and will play a crucial role in supporting Canadian businesses in the Indo-Pacific”.