NEWS RELEASES
EGGLETON RELEASES CANADA'S TRADE AND INVESTMENT ACTION PLAN FOR THE REPUBLIC OF KOREA
January 13, 1997 No. 5
EGGLETON RELEASES CANADA'S TRADE AND INVESTMENT
ACTION PLAN FOR THE REPUBLIC OF KOREA
In Seoul today with the Team Canada 1997 trade mission to Korea, Minister for
International Trade Art Eggleton, released Canada's Trade and Investment Action
Plan for Korea, which outlines Canada's commercial priorities and objectives in
Korea.
The plan outlines Canadian trade development strategy for Korea to the year 2001,
including approaches to improve access to the market and identification of new
opportunities for commercial and technolgical partnership.
"The creation of this Action Plan underlines the fact that Korea is an
increasingly important market to Canadian business," said Minister Eggleton. "A
key element of this plan will be to encourage higher levels of direct investment
in Canada from Korea."
The Action Plan is expected to serve as a framework for further discussion and to
stimulate strategic planning on both sides. It has the objective of further
deepening and solidifying Canada's already significant trading relationship with
Korea. Korea was Canada's sixth-largest export market in 1995 with $2.7 billion
in Canadian exports.
The plan outlines the following strategic guidelines:
identification of new opportunities for commercial partnership;
reduction of tariff and non-tariff trade barriers;
promotion of increased trade in manufactured and high-technology products;
increased two-way investment;
facilitation of Canada-Korea co-operation and partnerships in seeking third-country market opportunities; and
fostering long-term economic and commercial links, particularly in emerging
service and technology sectors.
The plan was developed through a concerted effort of various federal departments
and agencies, provincial governments and the private sector.
- 30 -
For further information, media representatives may contact:
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
This document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca
| 
