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Scotiabank made a submission to the 2008 EDC Legislative Review. This review is conducted every ten years to assess how EDC should evolve to support and develop Canada’s capacity to engage in international trade. Recommendations, including possible changes to the EDC’s mandate, will be conveyed in a report to the Minister of International Trade later this fall for his consideration. Topics covered in the review and in our submission include, the changing global environment; the role EDC can play to increase the financial capacity of Canadian private-sector for trade; and EDC’s place within government.
The objective of our submission was to highlight areas where EDC’s involvement has proven beneficial for the Bank, as well as others areas where we would like to see further engagement (particularly with regard to risk mitigation products such as insurance and guarantees). Throughout the document we stressed the importance of EDC complementing and enhancing products already offered by the private sector, rather than duplicating them.
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