GATINEAU, QUEBEC--(Marketwired - March 14, 2014) - Government of Canada
Canada and Norway have signed an industrial security arrangement that supports ongoing bilateral trade and contributes to international security. It opens the door to more opportunities for Canadian companies by allowing them to bid on Norwegian contracts requiring access to classified information.
Providing Canadian companies with the tools and advantages to strengthen their economic competitiveness is vital in today's rapidly evolving international market. This bilateral arrangement permits Canadian and Norwegian private sector companies to participate in each other's government contracts that have security requirements by ensuring that both countries' most sensitive information and assets are properly safeguarded while in the custody of private sector organizations or individuals.
The bilateral security arrangement is expected to generate future trade opportunities for Canadian companies in all sectors of industry, including defence, aerospace and manufacturing. With the addition of new provisions for civilian contracts, it covers the full spectrum of contract security and complements existing trade mechanisms between the two countries.
- Canada and Norway have a longstanding relationship, facilitating strong intergovernmental and industrial cooperation.
- In 2012, Canada-Norway merchandise trade totaled $6.1B; Norway was Canada's 13th largest export destination and its 14th largest source of imports.
- Public Works and Government Services Canada works with domestic partners and foreign security authorities to ensure contract security for Canadian companies.
- Canada currently has international bilateral industrial security instruments in place with 15 countries.
"The Canada-Norway security arrangement is a key example of our Government delivering on its commitment to creating jobs, economic growth and long-term prosperity for Canadians. Opportunities like this boost trade and economic growth by helping Canadian businesses participate in foreign contracts."
The Honourable Diane Finley, Minister of Public Works and Government Services
"Building on the long-standing trade partnership with Norway, this arrangement will generate new business opportunities to create jobs and promote prosperity for Canadians while continuing to grow our already strong bilateral commercial relationship with Norway."
The Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway
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