Sir Suma Chakrabarti, President of the European Bank for Reconstruction and Development (EBRD), has led a delegation including EBRD senior bankers on a business development visit to Canada. The aim was to encourage more Canadian companies to invest in the countries where the EBRD operates.
Sir Suma said: "Canada has always been a very strong partner of the EBRD and I hope that even more Canadian firms will join us in the investment opportunities which are present in our countries of operations."
A number of chief executives from Canadian companies attended a business forum in Toronto, which the EBRD organised with the support of the Trade Commissioner Service of Global Affairs Canada, the government of Ontario, Export Development Canada and Canadian Manufacturers & Exporters. The event was also attended by Canada's Minister of International Trade, Chrystia Freeland.
Minister Freeland and several company representatives took part in a panel which explored how best to build economic sustainability in transition economies. They also discussed potential investment opportunities in the EBRD regions.
The Minister told the business forum: "Canada has many human links with other countries in the EBRD operational area. Canadian companies should take advantage of that and look for more investment opportunities."
The EBRD President held a meeting afterwards with Minister Freeland to discuss opportunities and challenges that many EBRD countries are facing.
Canada is a founding member of the EBRD and an important source of foreign direct investment in the countries where the EBRD works. The value of joint Canada-EBRD investments stands at more than €5 billion. Canadian firms have invested with EBRD loans in many countries, including Mongolia, Romania and Ukraine.