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April 3, 2013 /CNW/ - Export Development Canada (EDC) today announced that it has signed a Memorandum of Understanding (MOU) with the Moroccan Ministry of Economy and Finance, under which the Moroccan Government can access up to € 500 million in financing for national projects and contracts where there is Canadian supply, services or investments.
Morocco is a market of great opportunity for Canadian exporters, particularly in the infrastructure sector," said
Rajesh Sharma, Senior Vice-President, International Business Development, EDC. "Today's agreement is intended to make it easier for the agencies of the Government of
Morocco to do more business with Canadian suppliers, and in the process, create more trade between
The three-year agreement was signed by Mrs.
Diane Belliveau, Regional Manager,
Europe and the
Middle East, EDC and M. Nizar Baraka, Ministry of Economy and Finance, Kingdom of
Morocco, and witnessed by
Canada's Ambassador to the Kingdom of
Sandra McCardell, on
March 27th in
Rabat, Morocco. The signing was part of a larger trade mission organized by the Canadian Embassy in
Morocco that included 17 Canadian companies.
Canadian companies used EDC's services to undertake
CAD 144 million worth of business in
Morocco in 2012.
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 more than 7,400 Canadian companies and their global customers in nearly 190 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.
SOURCE Export Development Canada