NEWS RELEASES
CANADA AND JAPAN AGREE TO CO-OPERATE ON INFRASTRUCTURE PROJECTS IN THIRD COUNTRIES
November 27, 1996 No. 220
CANADA AND JAPAN AGREE TO CO-OPERATE ON
INFRASTRUCTURE PROJECTS IN THIRD COUNTRIES
In Tokyo today, Minister for International Trade Art Eggleton and Japan's Minister
for International Trade and Industry Shinji Sato announced that their respective
ministries would collaborate to identify opportunities for joint private sector
infrastructure and other projects in third countries.
"Today's joint announcement underlines the tremendous opportunities that exist for
Canadian and Japanese firms to link their unique strengths to meet the needs of
our developing neighbour countries, especially in the Asia Pacific region," said
Mr. Eggleton.
Closer business partnerships will help address the significant infrastructure
requirements of developing countries, particularly those in the Asia Pacific
region, while offering commercial benefits to firms in both countries.
"It is one more example of the Canadian government's commitment to generating
growth and creating employment," added Mr. Eggleton. "It will also help build
business alliances across the Pacific in a way that will serve us well in the 21st
century."
This initiative will complement discussions in the Asia Pacific Economic
Cooperation (APEC) forum on a framework to promote private sector investment in
public infrastructure in APEC member economies. This collaboration will assist
firms in Canada and Japan in securing project financing, from both private and
public sources, to meet these major development needs.
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The text of the joint announcement is attached.
For further information, media representatives may contact:
Nicole Bourget
Director of Communications
Office of the Minister for International Trade
(613) 996-6271
Media Relations Office
Department of Foreign Affairs and International Trade
(613) 995-1874
This document can be accessed through the Department's Internet site:
http://www.dfait-maeci.gc.ca or by entering "Ni-Ka Online" in most search engines.
Joint Announcement of the Ministry of International Trade and Industry of Japan (MITI)
and the Department of Foreign Affairs and International Trade of Canada (DFAIT) on
Facilitating Co-operation between Canadian and Japanese Companies in Third Country
Markets
Shinji Sato, Minister for International Trade and Industry of Japan, and Art
Eggleton, Minister for International Trade of Canada, hereby announce their
intention to take joint action to facilitate co-operation between Japanese and
Canadian companies in third country markets.
The two ministries intend to:
• exchange information on private sector-led infrastructure and other projects in
third country markets, including measures of both governments in support of such
projects;
• promote the development of co-operative business partnerships between Canadian
and Japanese firms, including joint studies, seminars and other initiatives on a
country- or sector-specific basis; and
• consider support for private sector project initiatives through, for example,
expanded co-operation in trade insurance between Canada's Export Development
Corporation and MITI's Export Insurance Division.
MITI and DFAIT expect this co-operation to promote the development of long-term
co-operative business relationships between Canadian and Japanese companies and to
support the expansion of private sector investment in infrastructure and other
projects.
Tokyo, November 27, 1996
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