Sep 1, 2017   SOURCE: PR NewsWire

Government of Canada announces new bilateral security arrangement with Bulgaria

Canada's latest bilateral security instrument means better contracting opportunities

GATINEAU, QC, Sept. 1, 2017 /CNW/ - The Government of Canada is committed to strengthening its relationship with allies and to expanding economic opportunities for all Canadians.

The Honourable Carla Qualtrough, Minister of Public Services and Procurement, today announced the signing of a new bilateral security arrangement with the Government of the Republic of Bulgaria. This arrangement will support trade between the two countries and contribute to international security.

Canadian and Bulgarian private sector companies can now participate in each other's government contracts that have security requirements. As such, both countries can be assured that their most sensitive information and assets are properly safeguarded while in the custody of each other's private sector organizations or individuals.

Through this arrangement, Canadian industry now has better access to contracting opportunities in Bulgaria while the Government of Canada gains access to potential opportunities for trade and investment across a variety of sectors requiring the exchange of classified government information. This is particularly relevant for sectors like the defence industry, but also for other industries, such as security and aerospace.

Quotes

"With this signing we are making a statement that opening doors for Canadian businesses abroad and ensuring domestic security in contracting can go hand in hand. We are pleased with this arrangement signed with the Bulgarian government, a trusted ally to Canada, as it strengthened the relationship between both countries while giving Canadian companies access to an established market."

The Honourable Carla Qualtrough
Minister of Public Services and Procurement

"Canada is focused on working with its international partners to strengthen the flow of goods, services and investments. That is why we are so proud of the Canada-European Union Comprehensive Economic and Trade Agreement, or CETA. It is the most progressive trade agreement ever concluded by Canada or the European Union. With the provisional application of CETA on September 21, 2017, which will be complemented by this security arrangement, our commercial ties with Bulgaria are poised to grow even stronger, for the benefit of our people."

The Honourable François-Philippe Champagne
Minister of International Trade

Quick facts

    --  Bulgaria has committed to boost its defence spending in an effort to
        modernize their armed forces. This presents procurement opportunities
        for Canadian businesses, including equipment and technology suppliers in
        the defence sector.
    --  Canadian merchandise exports to Bulgaria more than doubled in 2016,
        reaching $450.6 million. Major exports included ships, boats, floating
        structures, mineral ores, and aircraft and spacecraft parts.
    --  Once the Comprehensive Economic and Trade Agreement is provisionally
        applied on September 21, 2017, Canadian companies will be able to take
        advantage of greater access to, and more commercial opportunities in,
        European Union member states, including Bulgaria.
    --  Including Bulgaria, Canada has now concluded 19 bilateral security
        instruments with the following foreign countries: Australia, Belgium,
        Brazil, Denmark, Finland, France, Germany, Israel, Italy, the
        Netherlands, New Zealand, Norway, South Africa, Spain, Sweden,
        Switzerland, the United Kingdom and the United States.

Associated links

International contract security requirements

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SOURCE Public Services and Procurement Canada