Long-term outlook

Export Development Canada (EDC) is a recognized leader in providing breaking commercial financial solutions to companies of all sizes, helping them succeed in the global marketplace while enhancing business relationships with enterprises around the world and creating enduring prosperity for Canada.

Founded in 1944, EDC, as Canada’s Export Credit Agency, provides practical financial tools, risk management services and international expertise.   A key role is to anticipate global trade shifts and the needs of Canadian business as they expand their reach in a global market.  Brazil is the perfect example of that vision and we set up the ground representation in July 2000, positioning the location as the first EDC Foreign Representation within Latin America.  Since then to 2007 we have supported more than CAD 10 billion in new business.

Today, we play a key role in enhancing trade relationships between both countries, and our long term vision has allowed EDC to establish solid relationships with key industrial players such as Petrobras, Vale, Gerdau, Usiminas, Odebrecht, Braskem, Votorantim, Embratel, among others. To better support SME’s we have established effective relationships with Banks such as Banco do Brasil, Banco de Desenvolvimento de Minas Gerais (BDMG) and other international and local institutions. 

Recent discoveries – Making an impact is key to EDC, therefore as Brazil celebrates recent oil and gas discoveries which are estimated the be the biggest ever occurred in the world over the past 20 years, we are also getting ready, with the industry and financial partners, to support the substantial requirement for funds for development.  The opportunities are tremendous for platforms, drill ships, production facilities, pipelines, environmental equipment and services and anything that has to do with oil and gas services.

Under current financial conditions, the role of organizations such as EDC and other Export Credit Agencies became more relevant and strategic, businesses continue investing in new markets not only to facilitate foreign sales but also to build global supply chains that will help them stay competitive. They are not only exporting goods, but services and technology – all of which still call for risk management expertise. The unique market knowledge and skills that ECAs have cultivated for decades should make EDC more relevant than ever to businesses facing the pressures and realities of today’s global marketplace.

Export Development Canada facilitated $CAD77.7 billion in global trade in 2007, operating in 183 markets.

Claudio Escobar is EDC regional vice president for Brazil and
Southern Cone, located in Sao Paulo, Brazil.