Canadian Export Agency Lifts Suspension on Saudi Arabia Business
- EDC changes kingdom’s status to ‘open on restricted basis’
- Diplomatic feud erupted last summer after Freeland tweet
Photographer: Waseem Obaidi/Bloomberg
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Canada’s export financing agency has lifted its suspension on Saudi Arabia-related activity, citing an improving environment for the nation’s businesses since a diplomatic blowout with the kingdom last summer.
Export Development Canada its position on Saudi Arabia on Tuesday from “off cover” to “open on restricted basis,” ending a 10-month halt on business. The EDC move to suspend business in the country came after the Saudi government put its own freeze on any new deals for Canadian firms.