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NEWS RELEASES
CANADA AND RUSSIA TO STRENGTHEN ECONOMIC TIES
October 10, 1997 No. 164
CANADA AND RUSSIA TO STRENGTHEN ECONOMIC TIES
International Trade Minister Sergio Marchi today announced that Canada and Russia
have agreed to hold talks on measures that will facilitate and increase two-way
trade by the year 2000.
"These consultations, due to begin by the end of 1997, will also examine measures
to accelerate Russian integration into world markets," Mr. Marchi said.
The Minister spoke at the Third Annual Canada-Russia Intergovernmental Economic
Commission (IEC) which took place today in Ottawa. Mr. Marchi co-chaired the
Commission's Plenary session with Mr. Valery Serov, Deputy Prime Minister of the
Russian Federation.
The IEC is an industry-led bilateral forum working to expand trade and economic
relations between Canada and Russia, and to eliminate trade irritants and
obstacles that companies face in expanding their business.
Mr. Serov and Mr. Marchi witnessed the signing of a $22 million contract for
housing components for Sakhalin Island in the Russian Far East from Royal Group
Technologies Limited of Woodbridge, Ontario. Local contractors in Sakhalin will
use Canadian-manufactured components to build 800 housing units for victims of a
major earthquake in the region in May 1995.
"We are pleased that the Export Development Corporation could provide financing to
support this commendable project," Mr. Marchi said.
The Minister for International Trade also announced that the Canadian and Russian
governments will seek ways to make available additional export financing, backed
by Russian sovereign guarantees, for priority investment development projects.
Nearly 140 Canadians, representing 106 companies, several industry associations
and universities participated in the IEC, along with federal and provincial
officials. There were more than seventy Russian participants, including business
people and officials from the national and several regional governments.
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For further information, media representatives may contact:
Leslie Swartman
Office of the Minister for International Trade
(613) 992-7332
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
Canada-Russia Intergovernmental Economic Commission,
October 10, 1997
Announcements
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Royal Plastics of Woodbridge, Ontario, has received an order to supply
building components for an 800-unit housing construction project on Sakhalin
Island. The contract, worth approximately $22 million, involves materials to
be manufactured in Canada for construction by local contractors in Russia.
The housing units will be used for victims of an earthquake that hit the
island in 1995.
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MDS Aero Support Corporation of Montreal, Quebec, recently established a
joint venture with the Ural Civil Aviation Works in Russia for the
development and marketing of aero engines blade coating technologies.
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Bombardier Inc. of Montreal, Quebec, recently received Russian certification
of its full family of Challenger aircraft, the Regional Jet and the Canadair
SE, as well as the Dash 8-100, 200 and 300. This process, conducted in only
four months, did not require any design modifications to Bombardier's
aircraft.
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Bata Industries Ltd. of Don Mills, Ontario, opened two stores in Moscow last
month. The Bata Shoe Museum in Toronto is currently hosting an exhibit of the
Clothing and Customs of Siberia in co-operation with the Russian Museum of
Ethnology. This exhibit will be travelling to the Canadian Museum of
Civilization in June, 1998.
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CANDESAL Inc. of Ottawa, Ontario, is co-operating with the Russian Ministry
of Atomic Energy (Minatom) in the design and building of a floating nuclear
power generation system and an advanced reverse osmosis desalination system.
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Canadian Imperial Bank of Commerce, Toronto, Ontario, was recently selected
as "twinning" partner by Vorozhdenie Bank. It now has a permanent
representative in Moscow.
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DMR Consulting Group of Montreal, Quebec, will soon open an office in Russia
to offer information technology services.
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Pratt & Whitney Canada have recently signed an agreement with Russian
aircraft manufacturer Ilyushin to supply engines for a new version of the IL-114 turboprop aircraft.
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Pratt & Whitney Rus, St. Petersburg, Russia, was recently established to
supply a full range of turboprop, turboshaft and turbofan engines for the
Russian civil aviation industry.
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The Association of Universities and Colleges of Canada (AUCC) will open an
office in Moscow later this year to promote Canadian higher education to a
new generation of Russian students.
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XB Systems Inc of Montreal, Quebec, has created a joint venture, OAO VPI in
Russia to provide information distribution and data broadcasting services. It
will open an office in Moscow's Ostankino broadcasting tower later this
month. Their first client is the Russian Ministry of Foreign Affairs, which
recently awarded a contract to the company.
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Jamesway Incubator Company of Cambridge, Ontario, has sold poultry incubators
and hatchers, and provided training to Roskav Poultry Farm in Pervomaiske,
Leningrad Oblast. The transaction is valued at US$250 000.
Productions Pascal Blais of Montreal, Quebec, began development of a unique IMAX
camera this year with Russian and Japanese partners. Pascal Blais, Russian Studio
Panorama of Yaroslavl, and a Japanese consortium have also signed an agreement to
co-produce an animated IMAX film of Hemingway's The Old Man and the Sea with a
budget of $2.5 million.
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