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The State of Arizona and the Canadian Province of Alberta have formally recognized an agreement based upon an Arizona statute that establishes reciprocity of enforcement of money judgments. The measure is expected to fuel new investment, create jobs and stimulate the economies of both entities.
Alberta’s acceptance loosens the lending restrictions between banks and businesses, encouraging greater financial investment, while protecting the financial interests of parties in both jurisdictions.
Canada is Arizona’s largest foreign direct investment partner, contributing billions to the Arizona economy through tourism and new business. The trade relationship with Arizona is valued at $3.6 billion a year.
– Arizona Commerce Authority reports