GATINEAU, QUEBEC--(Marketwired - Nov. 4, 2013) - The Honourable Diane Finley, Minister of Public Works and Government Services, and the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today announced a bilateral industrial security arrangement between Canada and the Kingdom of Denmark, which will help Canadian companies grow their business in Denmark.
This arrangement provides the participating nations with an assurance that their most sensitive information will be properly safeguarded while in the custody of each other's private sector organizations/individuals. It is expected to generate increased trade opportunities for Canadian companies by allowing them to have the broadest possible access to this important European market.
"Our Government's top priority is creating jobs, economic growth and long-term prosperity," said Minister Finley. "International industrial security arrangements like this one promote trade and economic growth by helping Canadian businesses to participate in foreign contracts."
Canada and Denmark are both strong trading nations, and share a similar way of doing business. Both economies depend on innovation and knowledge-intensive sectors for growth, and are underpinned by the strengths of our small-to-medium sized companies. Over the past decade, business ties between Denmark and Canada have enjoyed significant development, particularly in the knowledge-based industry sectors of life sciences, renewable energy, and information and communication technologies.
"It is important that we continue to make it easier for Canadian businesses to increase their exports to high-growth markets," said Minister Fast. "A northern neighbour, long-standing allies and strong economic partners, the recently announced Canada-EU trade agreement will help us grow our trade and investment ties with Denmark and take our economic relationship to the next level."
Bilateral merchandise trade between Canada and Denmark reached nearly $1.3 billion in 2012.This industrial security arrangement allows Canadian and Danish private sector companies to bid on and participate in each other's government contracts that have a security requirement, and applies to all sectors of industry, including defence, aerospace and manufacturing. Canadian industry will benefit from better access to contracting opportunities with the Danish government, while the Government of Canada gains access to a specialized industry and workforce in Denmark.
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 Australia, Finland, France, Germany, Israel, Italy, the Netherlands, New Zealand, Norway, Spain, Sweden, Switzerland, the United Kingdom and the United States.
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