Bilateral Trade Vital to Canadian Economic Growth: BMO
Award-winning Trade Finance group has nearly two centuries supporting
North American traditional and structured trade transactions
TORONTO, ONTARIO and CHICAGO, ILLINOIS -- (Marketwire) -- 10/05/12 --
Twenty-five years after the signing of the Free Trade Agreement
(FTA), BMO Capital Markets Trade Finance group continues to leverage
its growing North American presence by supporting cross-border trade
with leading expertise and infrastructure.
"Trade is a complex and fast-changing landscape, and we've adapted
with importers and exporters to maximize the benefits of bilateral
free trade. As we have for decades, we will continue to support our
clients' strategies, whether they need to optimize credit lines,
access new markets, streamline their processes or manage foreign
exchange or other risks," said Peter Grills, Managing Director and
Head, Trade Finance, BMO Capital Markets.
A report issued this week from BMO Economics notes that Canadian
trade with the U.S. has grown at an annualized rate of 5 per cent a
year since 1990.
"Bottom line, the FTA and the North American Free Trade Agreement -
NAFTA - were critical in helping modernize the Canadian economy and
have ultimately played a big role in transforming Canada from a
relative underachiever among industrial world economies to a relative
overachiever," said Doug Porter, Deputy Chief Economist, BMO Capital
Added Mr. Grills: "The FTA and NAFTA were key stepping stones in
opening doors for Canadian and U.S. businesses alike, and our clients
continue to benefit enormously from these agreements."
About BMO Trade Finance
BMO's Trade Finance Group advises clients across North America at
every stage of growth, whether they are a growing, independent,
middle market enterprise or a large publicly traded firm involved in
international trade across a number of sectors. From Supply Chain
Finance to Trade Payables Processing, BMO specializes in anticipating
and responding to the impacts of fluctuating interest rates and
currency values on international trade, managing financial
relationships with trading partners and navigating the regulatory
landscape. BMO also offers powerful tools that make it easy for
clients to monitor trade activity and track results.
About BMO Capital Markets
BMO Capital Markets is a leading, full-service North American
financial services provider, with 2,200 employees operating in 30
offices worldwide including 17 in North America, offering corporate,
institutional and government clients access to a complete range of
investment and corporate banking products and services. BMO Capital
Markets is a member of BMO Financial Group, one of the largest
diversified financial services providers in North America with total
assets of $525 billion and more than 46,000 employees as at April 30,
Alexis Brown, Toronto
Martha McInnis, New York
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