Canada is committed to strengthening global food security by being a reliable partner and supplier of top-quality Canadian agricultural products.
Today, 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-based Canpotex, one of the world's largest suppliers of potash, and the government of Bangladesh. 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. As global food security challenges continue to be exacerbated by Putin's illegal war, Canada is committed to strengthening global supply chains and being a reliable partner and supplier of essential Canadian agricultural products.
