Today, the Canadian Commercial Corporation announced it has signed a contract to deliver Canadian potash from Canpotex Limited, with a potential value of $46 million USD, to the Bangladesh Agricultural Development Corporation (BADC).
This is the fourth contract that CCC has signed with BADC. The contract was negotiated by the Canadian Commercial Corporation, the Government of Canada’s international government-to-government contracting organization, and finalized in April.
- Potash is a critical item for Bangladesh’s agricultural industry and is a driver for their continued domestic development.
- The potash will be mined from Canpotex’s members’ mines.
- As one of the world’s largest producers of potash, Canada accounts for 30 percent of the mineral’s total global production.
- In 2016, Canada’s potash exports were worth $4.7 billion.
- Canada holds 46 per cent of the world’s potash reserves, with the Prairie Evaporite Deposit, which lies beneath the southern plains of Saskatchewan, accounting for a significant portion of these reserves.
- Canada’s potash industry employs approximately 5,000 Canadians.
- In 2015-16, the Canadian Commercial Corporation was active in 90 countries around the world, working with 129 Canadian companies, to sign export contracts worth over $1.6 billion.
“We are thrilled to be helping Canadian exporters access international markets through our International Commercial Business line. By working with CCC, Canadian exporters can take advantage of a unique government-to-government contract that includes a Government of Canada guarantee of contract performance to help grow their international business.”
Martin Zablocki, President and CEO, Canadian Commercial Corporation
“Canpotex is pleased to work with the Canadian Commercial Corporation. As one of Canada’s largest overseas exporters, Canpotex ships about 10 million tonnes of potash each year, which is used to improve both crop quality and yield, making a significant contribution to global food security.”
Ken Seitz, President and CEO, Canpotex Limited
“We are extremely pleased to once again be working with the Government of Canada and Canpotex in securing these important deliveries of Canadian potash”.
Md. Nasiruzzaman, Chairman, Bangladesh Agricultural Development Corporation