The Honourable Mary Ng, Minister of International Trade, Export Promotion, Small Business and Economic Development, announced a contract between the Canadian Commercial Corporation (CCC), Saskatchewan Canpotex, one of the world’s largest suppliers of potash, and the government of Bangladesh.
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Under the agreement, Canada will increase the amount of Canadian potash supplied to Bangladesh in 2023.
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.
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% in 2022 and is expected to grow further in the coming years. ■
A very strong low pressure system currently just offshore of San Francisco Bay will continue to bring high winds, heavy rain, and heavy mountain snow for California and adjacent areas of the Southwest through tonight and Wednesday as the latest in a series of atmospheric rivers impacts the West.