Thank you, Mr. Chair.
Thank you to the witnesses for being here.
I always get little time, so I'll come to the point. I've heard quite a few times about the emerging markets such as India. I was in India, and I got a chance to meet....
First of all I want to tell you that I noticed that TCS and EDC work hand in hand, and they are very successful. This is what I heard from the companies there, and this is what I noticed.
I also got a chance to visit a Canadian company in India, McCain french fries, and I was very delighted to hear from company management that they are so successful they have been showing a profit from the first day onwards. They have been there for a few years.
That is one example, but there are other companies also, and most of the other companies are SMEs. That was another thing I noticed.
With all these emerging international markets, what are some of the challenges and opportunities Canadian companies face, and what assistance can bodies like EDC or TCS provide to better prepare them for these challenges?
I also have a follow-up questions for Mr. Poloz.
On a clarification with regard to this accounts receivable insurance, EDC basically pays up to 90% of accounts receivable and then claims the receivables from the company that has been supplied with the goods from exporters.
Does EDC have any lists of companies with whom the exporting companies should do business? Are there any criteria? Can an exporter supply to any company without doing any due diligence, and EDC will simply pay out?