Export Development Canada is set to open two new offices in Europe this year and another in 2027, the Crown corporation said in a statement Thursday.
The move comes amid deepening ties between Canada and the European Union, including a proposal by European Commission President Ursula von der Leyen to make Canada the EU’s first “associate member.”
As part of the next phase of its Europe strategy, EDC is opening new offices in France and Sweden, Canada’s federal export credit agency said in a statement.
A third new office in Poland is being planned for 2027, the agency added.
Along with the offices in the United Kingdom, Germany and Turkey, these offices will help put EDC and Canadian businesses “closer to European buyers, investors, financial institutions and strategic partners,” EDC said.
The agency is citing growing interest among Canadian exporters to sell to Europe as the driving force behind the move. Almost one-third (31 per cent) of Canadian exporters say they plan to enter the European market in the next two years, according to EDC’s 2026 Trade Confidence Index.
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Deepening trade ties with the EU is a key pillar of Prime Minister Mark Carney’s strategy to double Canada’s non-U.S. exports as U.S. President Donald Trump’s trade war continues.
Trade talks collapsed between Canada and the United States in August after Ottawa walked away from the negotiating table in response to last-minute terms that Carney says the U.S. demanded, including restrictions on Canada entering into new trade deals with other countries.
Since then, Trump has escalated his economic attacks against Canada, imposing multiple rounds of tariffs as well as import restrictions.
EDC projects Canada’s exports to Europe could exceed US$104 billion in goods and US$41 billion in services by 2035.
Canada and the EU have already increased their volume of trade by 75 per cent in less than a decade since the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) was signed, International Trade Minister Maninder Sidhu said in a statement.
“EDC’s expanded presence will build on that success as we work to double our non-U.S. exports. This means more Canadian businesses building lasting partnerships, reaching new customers and creating good-paying jobs for workers here at home,” he said.
While CETA has been provisionally implemented, it isn’t yet fully ratified as some European Union member states still need to ratify the agreement in their individual legislatures.
Belgium, Bulgaria, Cyprus, France, Greece, Hungary, Ireland, Italy, Poland and Slovenia are the states that haven’t yet ratified the trade deal.
U.S. news outlet Politico reported earlier this week that Ottawa and Brussels are expected to announce a sweeping new partnership pact, which includes jointly stockpiling critical minerals.
The stockpile will help “to insulate from market fluctuations and geopolitical impacts,” a joint Canada-EU memo obtained by Politico said.
The two sides are also expected to step up energy cooperation, break down digital trade barriers, cooperate on defence and jointly purchase water bombers to coordinate the fight against wildfires in both jurisdictions.
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