RIYADH, 14 April 2008 — Bilateral trade between the Kingdom and Canada could reach greater heights with the establishment of the first permanent Canadian trade representation in the Gulf, said Eric Siegel, president and chief executive officer (CEO) of Export Development Canada (EDC).
Siegel, who met Commerce and Industry Minister Abdullah Zeinel Alireza during his three-day visit to the capital, was addressing a large clientele of Saudi businessmen at the Riyadh Chamber of Commerce and Industry yesterday.
He introduced Jean-Francois Croft, who will be the permanent representative for Abu-Dhabi-based EDC.
“In Canada, this region (the Gulf) has long been a focus of media and political interest because of its resources, its location and the broader geopolitics of the Middle East,” he said, pointing out that the Kingdom is now Canada’s second largest trading partner in the Middle East.
He said the number of Canadian companies active here has been growing at an average 10 percent each year. “Our exports here are higher than those to Brazil, India or Russia, and our projections are for continuing faster growth here than in those other countries.”
With an estimated $2 trillion in infrastructure projects in the Kingdom, he hoped that many Canadian companies would participate in the Kingdom’s development projects.
He recalled that Canam struck a joint venture with Zamil Industrial Investment Company of Dammam six years ago, and that venture operates two steel plants in Saudi Arabia. Lately, Zamil has signed a contract with Brandt Engineering Products of Regina, Saskatchewan to produce seamless steel pipes. “Through this type of growth, EDC will not only help connect the Kingdom with Canadian expertise, it will also help you grow your business.”
