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 - Oct 5, 2012) - 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 Markets.
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, 2012.
