NEWS RELEASES

August 2, 2000 (3:30 p.m. EDT) No. 191

PETTIGREW VISIT BOOSTS FUTURE TRADE OPPORTUNITIES WITH COLOMBIA

Trade Minister Pierre Pettigrew today wrapped up a three-day visit to Colombia where his meetings with Colombian political and business leaders laid the groundwork for stronger trade ties and greater bilateral co-operation with a key Latin American partner.

"Colombia is a valued business partner," said Mr. Pettigrew, "We've made progress toward greater trade growth and renewed opportunities for both Canadian and Colombian entrepreneurs."

Bilateral trade in 1999 totalled over $500 million. Canada is a major investor in Colombia and the largest in the telecommunications sector.

During his visit, Minister Pettigrew met with the President of Colombia, Andrés Pastrana, the Minister of Communications, Maria del Rosario Sintes, the Vice-Minister of International Trade, Maria Angela Orozco, the Mayor of Bogotá, Enrique Penalosa and the President of the state-owned oil company, Ecopetrol, Alberto Calderon.

Key activities and discussions included:

• two new oil exploration agreements between Canadian Occidental Petroleum and Ecopetrol;

• recognizing the need to actively support business efforts to increase direct trade flows between the two countries, especially through the Canadian-Colombian Business Forum;

• continuing Canadian support for the peace process in Colombia, particularly in the areas of internal displacement, human rights, and peace building;

• continuing negotiations for a Double Taxation Agreement to encourage bilateral trade and investment flows;

• renewing both countries' commitment to fight drug trafficking through economic and social development initiatives;

• closely co-operating to develop and implement Colombia's Connectivity Agenda based on the Canadian model; and,

• working toward simplifying procedures for bilateral agricultural trade.

"Our efforts today and into the future recognize that governments and business both share the responsibility to create the conditions for prosperity through increased trade," said Minister Pettigrew. "From agriculture to high tech, we've taken some practical first steps and are determined to nurture them into substantial accomplishments for both our countries' benefit."

In addition to Colombian federal and municipal political leaders, Minister Pettigrew met with many Canadian and Colombian company representatives and toured the facilities of the Colombian "Computers for Schools" program.

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For further information, media representatives may contact:

Andre Albinati

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874