EDC, a Crown corporation dedicated to helping Canadian
companies of all sizes succeed on the world stage, will deploy a full suite of
finance and insurance solutions to help Nokia and Nokia Canada compete and win
business, while enabling companies around the world to build out their network
infrastructure and enable greater broadband access. The agreement will also
focus on introducing innovative Canadian companies to Nokia to help deepen the
Canadian supply chain.
Under EDC’s new Global Corporate Partnership program, the
expanded partnership will help Nokia sustain and grow its leading-edge Canadian
R&D facility to further develop the ecosystem of suppliers and solution
partners. EDC will also assist in advancing Nokia’s community and social
initiatives in Canada. Examples include collaboration on efforts to close the
gender gap in tech and working with EDC’s inclusive trade group to support
indigenous trade.
Nokia has a key presence in Canada and is delivering
positive impact on Canadian employment, investment, and overall value creation.
One of Nokia’s largest R&D sites globally is in Ottawa, Ontario, and
employs more than 2,300 people in high-tech jobs and its university co-op
program employs 400 students from across the country.
Sven List, SVP Trade Connections of EDC, said: “EDC is
committed to growing Canada’s exports by introducing innovative Canadian
companies to Nokia, helping the Canadian supply chain within the company grow
while responding to international business opportunities. We’re excited to
partner with Nokia as they invest in 5G and the next generation network
infrastructure, strengthening Canada’s position as a leader in high tech
resulting in an increase in high value employment and further follow-on
benefits within this important sector. We look forward to working closely with
Nokia, a company that harnesses strong environment, social and governance
principles delivered in Canada and abroad.”
Canada represents an important market for Nokia. As reported
in the June 2021, Government of Canada “ State of Trade 2021 - A Closer Look atForeign Direct Investment (FDI) ” foreign multinationals like Nokia represent
an important post-pandemic opportunity in Canada’s recovery accounting for 12%
of all Canadian employment, 15% of gross domestic product and over 60% of trade
in goods and services.
Jeffrey Maddox, President of Nokia Canada, said: “Nokia and
EDC share a commitment to job creation, economic expansion and environmental
sustainability in Canada. Nokia’s R&D facility in Ottawa has developed
technologies that have been incorporated into solutions for 5G, network
security, fiber optic systems, and broadband access networks. These
technologies, developed in Canada, are now being used by major carriers,
governments and enterprises in Canada and globally. With the support of EDC,
Nokia will help boost export of products and technologies developed in Canada
by Canadians.”
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