Export Development Canada Opens Permanent Representation in Istanbul, Turkey

ISTANBUL, May 31, 2011 /PRNewswire/ --

Export Development Canada (EDC) today officially opened a permanent representation in Istanbul, Turkey, to further the growing trade between Canada and the Eastern Mediterranean region.

"EDC will be looking to advance Canada's expertise in sectors such as power generation, infrastructure and green technologies, including water treatment, as key areas of growth that match up well with the needs of the Eastern Mediterranean region," said Benoit Daignault, Senior Vice-President, International Business Development, EDC, who is in Istanbul for the opening ceremonies.

"EDC has seen a direct and immediate result in expanding Canadian supply and products in areas where it has representation, and we are confident that Canadian companies will bring great benefits to companies in Turkey, the Balkans and the Caucasus, whether they are looking for a supply chain partner or making an investment in Canada."

Two-way merchandise trade between Canada and the Eastern Mediterranean region totaled CAD 1.56 billion in 2010, having risen steadily from the 2006 level of CAD 709 million.

In 2010, EDC provided financial solutions for 433 Canadian firms doing business in the region, facilitating more than CAD 1.3 billion of trade with Turkey in 2010 and close to CAD 2 billion in the Eastern Mediterranean region.

Burak Aktas will be EDC's new permanent representative for the region, based in Istanbul, Turkey, where he will lead EDC's business development strategy. Countries supported by EDC's new representation include: Albania, Bosnia Herzegovina, Bulgaria, Croatia, Greece, Macedonia, Montenegro, Romania, Serbia, Slovenia, Georgia, Azerbaijan, Israel and Turkey.

"As the recovery struggles to take hold, there are many companies with creditworthy transactions and lucrative opportunities in the region, and with more than CAD 2 billion in direct Canadian investment into the region since 2000, there is a strong trend towards long-term commitments by Canadian companies to these markets," Mr. Aktas said.

Mr. Aktas has been working in the market since 2007 as a Regional Manager, supporting the region from EDC's head office in Ottawa. He joined EDC in May 2001 as a Financial Services Manager on the Financial Institutions Team, responsible for a banking partner portfolio including Royal Bank of Canada, Bank of Montreal, Société Générale, ICICI Bank Canada, State Bank of India, and National City Bank.

Prior to joining EDC, Mr. Aktas worked at the Sabanci Group in Turkey as an export manager, responsible for Southeast Europe and Israel. He also worked at World Learning in Washington, D.C., as an Exchange Program Intern in the Financial Reporting Department and as a Financial Auditor, specialized in the oil and gas sector at Price Waterhouse Coopers.

Mr. Aktas obtained an MBA (International Business) from the University of Ottawa and an Economics degree from the University of Istanbul.

Istanbul joins Dusseldorf, Mumbai, New Delhi, Beijing, Shanghai, Singapore, Moscow, Abu Dhabi, Rio de Janeiro, São Paulo, Santiago, Lima, Panama, Mexico City, and Monterrey as a site of EDC representation.

EDC is 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 8,200 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and a recognized leader in financial reporting and economic analysis.

    
    For further information:

    Media contact:

    Phil Taylor
    Export Development Canada
    Blackberry: ptaylor@edc.ca
    Burak Aktas
    Blackberry: baktas@edc.ca
    +1(613)598-2904