FAIT Committee News Release
If you have any questions or comments regarding the accessibility of this publication, please contact us at accessible@parl.gc.ca.
|
STANDING COMMITTEE ON FOREIGN AFFAIRS NEWS RELEASE COMMITTEE CALLS FOR REFORMS TO ENHANCE EDC’S ROLE Ottawa, December 16, 1999 - The House of Commons Standing Committee on Foreign Affairs and International Trade tabled today its Report, Exporting in the Canadian Interest: Reviewing the Export Development Act, which responds to a number of key policy issues raised during the statutory review of the 1993 legislation governing the Export Development Corporation (EDC) that began over a year ago. The Report’s 23 conclusions and recommendations build upon, but also in significant respects depart from and go beyond, the proposals in the lengthy report by the Gowlings review team, commissioned by the Minister of International Trade last year and made public in July. The Committee recommends, as an overarching provision, adding to the Export Development Act clear Parliamentary guidelines for EDC supported activities and transactions so as to ensure that these both deliver benefits to Canadians and meet Canada’s international commitments and obligations, including those related to environmentally sustainable development and human rights. The Committee, recognizing the value of EDC’s expanding services to Canadian exporters, does not support changing EDC’s commercial mandate at this time. The Committee does, however, urge measures to address valid private sector competitiveness concerns and, giving particular attention to small and medium-sized businesses, to provide a much needed boost to Canadian trade finance capabilities in a cooperative effort with insurance companies, banks and other potential lenders. The Committee also recommends practical reforms to EDC’s legislative and corporate policy framework to increase public confidence through improved transparency, appropriate access to information, and other accountability measures including timely response to environmental and social impact concerns. The Committee’s proposals taken together aim to enhance EDC’s role so that it can best serve the needs of actual and potential Canadian exporters in a manner that is fully consistent with Canadian public values and with Canada’s long-term domestic and international interests. - 30 - For more information, please contact the Clerk of the Committee at 996-1533 or the Chair of the Committee at 992-5234. |