NEWS RELEASES
CANADA AND SWITZERLAND SIGN AN ARRANGEMENTON TRADE AND ECONOMIC CO-OPERATION
December 9, 1997 No. 203
CANADA AND SWITZERLAND SIGN AN ARRANGEMENT
ON TRADE AND ECONOMIC CO-OPERATION
International Trade Minister Sergio Marchi today in Bern signed an Arrangement on
Trade and Economic Co-operation with Switzerland's Minister of Economy Jean-Pascal
Delamuraz. This Arrangement will further enhance economic relations between the
two countries, stimulate increased co-operation in a variety of areas of mutual
concern and encourage alliances between Canadian and Swiss companies.
"This Arrangement should strengthen Canada's bilateral and multilateral
collaboration with Switzerland, a valued trade and investment partner," said Mr.
Marchi. "We will identify and analyse our trade and investment flows through this
Arrangement with a view to enhancing the Canadian-Swiss trade and investment
relationship."
A Consultative Group will be established to ensure the implementation of the
Arrangement on Trade and Economic Co-operation and the fulfilment of its
objectives.
In conformity with their international commitments, Switzerland and Canada will
endeavour to create the most favourable conditions for liberalizing trade in goods
and services as well as investment between them, in accordance with a Joint Work
Program. This program will also encourage the expansion of trade and investment
between the Canadian and Swiss private sectors by fostering regular exchanges of
information on opportunities for trade, investment and other promotional
initiatives.
Trade relations between Canada and Switzerland have increased appreciably over the
last two years. Switzerland is Canada's 17th-largest export market. In 1996,
bilateral trade totalled approximately $1.9 billion. Total Swiss investment in
Canada amounts to $3.8 billion, including established names such as Nestlé,
Novartis and ABB. Canadian investment in Switzerland exceeds $1.2 billion,
reflecting the presence of companies such as Royal Bank, Bata and SHL Systemhouse.
Canada signed a similar Arrangement last week with Norway.
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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
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