Export Development Canada (EDC) and Nippon Export and Investment Insurance (NEXI) announced today the signing of a Memorandum of Understanding (MOU), which affirms the organizations’ commitment to strengthening Canada-Japan relations and working towards shared outcomes in the Indo-Pacific and beyond.
NEXI is Japan’s export credit agency, wholly owned by the Japanese government, that provides insurance products to Japanese exporters, investors and financiers in relation to their cross-border transactions and helps them maintain international competitiveness.
EDC is Canada’s export credit agency dedicated to helping Canadian businesses grow their businesses globally by offering the trade knowledge, connections and financial solutions companies need to confidently enter new markets and reduce financial risk.
Under the MOU, both organizations commit to connecting Canadian and Japanese investors and exporters in key areas such as resilient supply chains (i.e., critical minerals), infrastructure, clean technology, energy transition, artificial intelligence, advanced manufacturing and agri-food. Additionally, EDC and NEXI seek to share knowledge and networks, especially pertaining to environmental, social and governance (ESG) best practices and policies.
“With nearly a century of economic and diplomatic relations, Japan and Canada share a robust partnership further enhanced by the Canada-Japan Economic Partnership Agreement,” said Mairead Lavery, EDC President and CEO. “Japan is one of Canada’s key trading partners and plays a vital role in Canada’s Indo-Pacific strategy. This partnership will support the advancement of global trade opportunities for both Canada and Japan, and I look forward to witnessing the positive impact on both our nations.”
“Japan and Canada agreed to strengthen their cooperative relationship in the Indo–Pacific strategy and beyond, we also recognize that Canada is a significant partner for trade and investment,” said Atsuo Kuroda, NEXI Chairman and CEO. “We will continue to contribute to the economic development of Canada and Japan by sharing knowledge and experience through cooperation in various fields and specific projects.”
This agreement follows EDC's opening of a new representation in Tokyo, boosting its presence in Japan and the Indo-Pacific more broadly to better support the growth of Canadian exporters and investors.
