Monday, March 31, 2014

Canadian Business Opportunities in Asia Pacific Emerging Markets

WHAT: Samuel Tumiwa, Deputy Representative of the Asian Development Bank's North American Representative Office, will be visiting Toronto on April 2 and is available to speak on business opportunities for Canadian businesses with the Manila-based Asian Development Bank.

WHY: Asia and the Pacific needs some $8 trillion in infrastructure for transport, energy, water and telecommunications by 2020. Moreover, ADB's long-term strategy calls for a scale up in private sector development and private sector operations in all operational areas, reaching 50% of annual operations by 2020.

With an extensive range of business opportunities across Asia and the Pacific valued at some $21 billion, working with ADB as a partner helps to ensure fairness and transparency in the procurement and consulting process. Opportunities exist in China, India, Indonesia, Malaysia, Thailand, Vietnam, Hong Kong, Singapore, South Korea, Mongolia, and Burma, among others.

Since 1967, Canadian companies and consultants have been awarded more than $758 million in procurement contracts on ADB-financed projects. Moreover, co-financing with Canada sources in just the last six years has totaled more than $287 million.

Mr. Tumiwa would welcome the opportunity to speak about how the Asian Development Bank can help leverage the Canadian private sector throughout Asia and the Pacific, especially in light of the Canadian Government's new Global Market Action Plan.

Established in 1966, ADB is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration. Canada is the second largest shareholder among ADB's non-regional members with 5.23% of total shares in the Bank.

More information about Canada's partnership with ADB can be found at: http://www.adb.org/publications/canada-fact-sheet

WHEN: Wednesday, April 2, 2014, in Toronto.

CONTACT: To arrange a media interview, please contact: Michael Reyes, ADB External Relations, mreyes@adb.org, 202-728-1504.

BIO: S. Samuel Tumiwa is the Deputy Resident Director of the Asian Development Bank's North American Representative Office in Washington, D.C. In this capacity, he works with policymakers and stakeholders in the private and public sectors. He also serves to strengthen collaboration with other multilateral institutions based in North America, and conducts public and media outreach. Prior to this posting, Mr Tumiwa served in ADB's Regional and Sustainable Development Department, where he coordinated ADB's program to increase investments in clean energy to $2 billion annually. A complete bio can be found at: http://tinyurl.com/kqfflm5

/CNW/ - March 31, 2014/

SOURCE Asian Development Bank

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