June 7, 2004

MOU to forge closer ties between Canadian, Indian environmental firms

A Memorandum of Understanding (MOU) signed in New Delhi, India, by Export Development Canada (EDC) and the Environment Management Division of the Confederation of Indian Industry (CII-EMD) will foster closer ties between Canadian and Indian companies operating in the field of environmental management.

The MOU commits EDC and CII-EMD to share intelligence about business opportunities and environmental regulations, standards and methodologies. It includes agreements to:

*share research information, advice, and guidance in support of infrastructure projects;

*profile the expertise, products and services of Canadian and Indian companies as potential joint venture partners for business with India, especially in the areas of water and wastewater treatment, waste management, clean energy, and energy efficiency; and

*share knowledge about regulations and regulatory trends in the environmental sector and methodologies for conducting reviews of projects having an environmental impact.

The MOU was signed in New Delhi by KP Nyati, head of the CII-EMD, Arthur FitzGerald, EDC's chief environmental Advisor, and Peter Nesbitt, EDC's regional manager for Asia-Pacific.

"This agreement will help Canadian exporters of environmental goods and services pursue opportunities in this sector within India," said Nesbitt. "CII-EMD has the contacts and knowledge to help Canadian companies identify Indian partners that will be essential to implementing projects in a foreign environment."

"In addition to building strong business relations in the environment field between Indian and Canadian companies, the MOU also lays the foundation for the export and establishment of environmentally sound projects in India where EDC and CII would also work together to do environmental assessments of such projects and move firmly towards creating sustainable enterprises in India," Nyati noted.

CII-EMD works to promote corporate sustainability management and eco-efficiency within industrial operations and to enable Indian industry to address environmental and sustainability issues effectively and competitively. EDC, a crown corporation operating as a commercial financial institution, provides trade finance and risk management services to Canadian exporters and investors in up to 200 markets.

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