FedEx Express Canada
NYSE : FDX

FedEx Express Canada

November 21, 2013 08:45 ET

FedEx Express Canada Supports Free Trade Deal with EU

Access to World's Largest Economy Good for Canadian Business, Consumers

MISSISSAUGA, ONTARIO--(Marketwired - Nov. 21, 2013) - FedEx Express Canada, a subsidiary of FedEx Corp. (NYSE:FDX), supports the Government of Canada's intent to ratify a free trade agreement with the European Union, the representative body of the largest economic region in the world. After four years of negotiations, the recent announcement in Brussels of an agreement on the Comprehensive and Economic Trade Agreement (CETA) represents a significant milestone for Canada and its ability to compete in the global economy. FedEx Express Canada strongly believes that, once it is ratified by the Canadian government and European Union member states and is passed into law, CETA will facilitate economic growth in Canada.

"Free trade has been a boon for Canadians, helping to establish our country among the richest and more prosperous in the world," said Lisa Lisson, president of FedEx Express Canada. "We firmly believe the CETA deal will further boost our economy, opening the door for Canadian businesses to access new markets and new opportunities."

Lisson said the CETA announcement would pave the way for both Canadian businesses and Canadian consumers to benefit from increased trade with the European Union. According to the Government of Canada, the benefits of CETA to Canadians include:

  • Elimination of trade barriers (including 98% of all EU tariff lines) between Canada and the EU's 28 member states, which include 500 million consumers of goods and services;
  • Access to the world's largest importer of goods. The EU's annual imports has a monetary value greater than Canada's GDP ($2.3 trillion in 2012 vs $1.8 trillion respectively);
  • Increased bilateral trade, which could increase by 20% and boost Canada's GDP by $12 billion annually.

Lisson said FedEx Express has been making significant investments in its network and services in both Canada and the European Union.

"In Canada, we have been investing in new service centres across Canada, introducing new services, and upgrading our air fleet in order to accommodate growth and new opportunities," said Lisson. "CETA is a tremendous opportunity and FedEx is uniquely positioned to help Canadian businesses and consumers capitalize on a new era of international trade."

FedEx Express has made the following investments and announcements in Canada in recent years:

  • New service centre openings including Saskatoon SK (2013), Calgary, AB (expansion, 2013), Markham, ON (2012), St. John's NL (2011), Cambridge, ON (2010), Edmonton, AB, (2010), and Surrey, BC (2009);
  • On October 2, 2013, FedEx Express Canada announced the development of a new service centre to serve as the anchor tenant within the City Of Windsor, Ontario's newly conceived "Cargo Village" at the Windsor Airport;
  • Upgraded its air fleet with the conversion of several MD-11s to Boeing 757s and the introduction of the wide-body cargo plane Airbus 310 (A3100) into and out of Edmonton and Winnipeg with direct daily international service.

FedEx Express has also been steadily building its network throughout Europe through investments and acquisitions. For example:

  • In Fiscal Year 2012 alone, 26 service stations were opened in France, Germany, Italy, The Netherlands, Northern Ireland, and Sweden;
  • In 2010, relocated its Central and Eastern European hub from Frankfurt to a new state-of-the-art hub in Cologne, Germany and in 2009 expanded its European hub at Roissy-Charles de Gaulle Airport, Paris, France, making it the largest FedEx Express hub outside the United States;
  • Acquired Polish courier company Opek Sp. z. o. o. (April, 2012) and France's TATEX (July, 2012).

About FedEx Express

FedEx Express is the world's largest express transportation company, providing fast and reliable delivery to more than 220 countries and territories. FedEx Express uses a global air-and-ground network to speed delivery of time-sensitive shipments, by a definite time and date with a money-back guarantee.

About FedEx Corp.

FedEx Corp. (NYSE:FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $45 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 300,000 team members to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.

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