Canada opens export credit agency in PH

NEW OFFICE. Export Development Canada (EDC) president and chief executive officer Mairead Lavery holds a press conference in Taguig City on Thursday (Dec. 5, 2024). Lavery announced the opening of the new EDC office in Manila. (PNA photo by Joyce Rocamora)

By Joyce Ann L. Rocamora, Philippine News Agency

MANILA – Canadian companies looking to expand into the Philippine market are set to get a boost as the Export Development Canada (EDC) opened its new office in Manila.

The state-run export credit agency formally announced its opening at the Canadian Embassy in Manila during a plenary session for a visiting Canadian Trade Mission in Manila on Thursday.

“We’ve been thinking about this for four years. One of our strategic priorities was to grow business for Canadians in the Indo-Pacific region,” EDC president and chief executive officer Mairead Lavery said.

“Financially, economically, I think your government is also really trying to be easier for businesses to establish here. So, the ease of doing business has really improved, and just at this point, it is a really exciting time for the Philippines and Canada wants to be part of that.”

To date, the EDC has 11 offices across the world, including those in Vietnam and Singapore.

Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng said the opening is “historic” as the EDC is the only foreign export credit agency from a G7 country in the Philippines.

Among the EDC’s initial activities is the signing of a memorandum of understanding with San Miguel Corp. to start facilitating meetings between Filipino and Canadian companies.