CANADA; TURKEY —Export Development Canada (EDC) and Türk Eximbank have agreed to deepen cooperation between Canadian and Turkish businesses through a memorandum of understanding (MoU) covering international trade, investment and export finance. The framework will allow the two export credit agencies to identify opportunities for companies from both countries to pursue projects in overseas markets, with particular attention to Africa, the Middle East and North Africa (MENA), and Central Asia.
The agreement comes amid established commercial links between the two economies. Bilateral merchandise trade exceeded CAD 4.30 billion in 2025, comprising CAD 1.10 billion in Canadian exports to Türkiye and CAD 3.20 billion in imports from Türkiye. Canadian shipments include agri-food products, aircraft and transportation equipment, and industrial machinery. Türkiye’s exports to Canada are concentrated in consumer goods, metal and non-metallic mineral products, and forestry, construction and packaging materials.
Under the MoU, EDC and Türk Eximbank will assess potential cooperation in sectors where businesses in both countries have complementary capabilities. These include energy and energy transition, infrastructure, transportation, mining and critical minerals, and social infrastructure. The institutions will also examine financial support mechanisms such as joint financing, co-insurance, co-guarantees and reinsurance, alongside the exchange of expertise in export credit, trade finance and international business development.
The arrangement could help companies address financing and risk-management requirements when bidding for or implementing projects outside their home markets. Export credit agencies can support cross-border business by providing financing or risk coverage that may improve access to capital and help manage payment and commercial risks. The proposed cooperation may therefore be relevant to contractors, equipment suppliers, exporters and project developers seeking to expand into markets where local financing or risk capacity can be a constraint. The MoU itself, however, does not confirm specific projects, financing commitments or guaranteed transactions.
For Canadian and Turkish businesses, the framework creates a channel to explore joint opportunities in third-country markets, including infrastructure and energy developments that may require coordinated export support. Its practical impact will depend on the projects identified, the financing structures developed and the participation of companies in both countries. The agreement also provides a basis for the two agencies to share institutional practices as they assess international business opportunities.
EDC is Canada’s export credit agency, supporting Canadian companies in international trade through financial solutions, insurance and market expertise. Türk Eximbank is Türkiye’s official export credit agency and provides export financing and related support to Turkish businesses. Their cooperation is intended to build on bilateral commercial relations and facilitate opportunities for companies operating across both markets.
