NEWS RELEASES
MARCHI WITNESSES CANADA-BRAZIL AGREEMENTSIN BELO HORIZONTE, BRAZIL
September 10, 1997 No. 144
MARCHI WITNESSES CANADA-BRAZIL AGREEMENTS
IN BELO HORIZONTE, BRAZIL
International Trade Minister Sergio Marchi witnessed the signing of agreements
between Canadian and Brazilian firms and institutions totalling approximately $150
million this week at events in Belo Horizonte, Brazil.
"These agreements demonstrate the enormous potential for increased trade and
investment between our two nations," said Mr. Marchi. "They also show Canadian
firms' confidence in economic reforms in Brazil that are creating new markets for
goods, services and investment."
The Minister is visiting Brazil from September 8 to 11 to strengthen trade and
investment ties and to discuss Canada's commitment to make further progress in
hemispheric free trade discussions.
Mr. Marchi witnessed the signings of the following agreements on Tuesday and
Wednesday of this week:
A joint venture worth more than $130 million between USIMINAS, a major Brazilian
steel producer, A.G. Simpson Automotive Inc., an automotive parts manufacturer
based in Scarborough, Ontario, and Brasinca Minas, a Brazilian automotive parts
manufacturer. The deal will result in the construction of a metal-stamping plant
in Brazil to supply General Motors of Brazil with automobile components.
A $21.2 million loan agreement between Canada's Export Development Corporation
(EDC) and TELEMIG, the telephone company of the State of Minas Gerais. The loan
will finance the sale of Nortel telecommunications equipment to TELEMIG to expand
its cellular phone operations.
A Memorandum of Understanding (MOU) between the Industry Federation of Minas
Gerais (FIEMG) and Toronto's Wintec Energy Management Corporation. The MOU will
create opportunities to develop energy conservation businesses in Minas Gerais.
A letter of intent between Proceda Systemhouse and the Catholic University of
Minas Gerais to establish a scholarship for female students graduating in
technological disciplines. The total value of the scholarship for 1998 is $30 000.
Proceda is a joint venture partnership between SHL Systemhouse of Ottawa and
Brazilian information technology companies.
- 30 -
For further information, media representatives may contact:
Leslie Swartman
Director of Communications
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 on the Department's Internet site:
http://www.dfait-maeci.gc.ca
| 
