Sunday, May 26, 2024
HomeBusinessEconomyCanada approves increased shipments of potash to Bangladesh

Canada approves increased shipments of potash to Bangladesh

By Caribbean News Global fav

CANADA / BANGLADESH – Mary Ng, minister of international trade, export promotion, small business and economic development, announced a contract between the Canadian Commercial Corporation (CCC), Saskatchewan-based Canpotex, one of the world’s largest suppliers of potash, and the government of Bangladesh. Under the agreement, Canada will increase the amount of Canadian potash supplied to Bangladesh in 2023.

In a press release Friday, Global Affairs Canada, said:

“The Canadian potash will support Bangladesh’s agricultural sector and strengthen its domestic food production and security. The agreement, which is in line with Canada’s commitment to deepening regional agriculture and agri-food partnerships under the new Indo-Pacific Strategy, will help Bangladesh address the increased food insecurity it is facing due to Russia’s illegal war against Ukraine. In Canada, the deal will support hundreds of well-paying jobs and contribute to economic growth and stability.”

CCC supports the growth of international trade by facilitating Canadian exporters’ sales of goods and services through government-to-government contracts, reports Global Affairs Canada. The corporation has been integral to Canada’s supplying of potash to Bangladesh since 2014. In 2022, Canadian exports of potash to Bangladesh were valued at more than $500 million.

“In response to the increased global need following Russia’s illegal, full-scale invasion of Ukraine, Canada’s potash production capacity increased by 11 percent in 2022 and is expected to grow further in the coming years,” added, Global Affairs Canada. “As global food security challenges continue to be exacerbated by Putin’s illegal war, Canada is committed to strengthening global supply chains and being a reliable partner and supplier of essential Canadian agricultural products.”

Minister Ng, mentioned, that, “the sale of Canadian potash to Bangladesh, made possible through the hard work of the Canadian Commercial Corporation, shows our commitment to being a reliable partner and quality supplier of agricultural products in the Indo-Pacific region. Canada is a global leader in helping to address challenges in global supply chains, all while promoting Canadian values and protecting good, middle-class Canadian jobs.”



Please enter your comment!
Please enter your name here


Caribbean News

St Lucia implicated in CBI RICO lawsuit filed in US Federal Court

By Caribbean News Global TORONTO, Canada - Subsequent to MSR Media concerns last November about ‘finance and discounting schemes‘ in the CBI program and...

Global News