NEWS RELEASES

December 15, 2000 (10:15 a.m. EST) No. 271

CANADA'S TRADE AND INVESTMENT POLICIES GET TOP MARKS FROM WTO

Canada's liberal and transparent trade and investment policies have been key factors in its continued strong economic growth, according to a report by the World Trade Organization (WTO).

"As a trade oriented and globally integrated economy, Canada benefits significantly from an open and rules-based world trading system," said International Trade Minister Pierre Pettigrew. "We will continue to pursue reductions in trade and investment barriers through multilateral, regional, and bilateral initiatives."

The WTO report was prepared for Canada's sixth Trade Policy Review. It emphasized that Canada's liberal trade regime has enabled trade and investment flows to expand rapidly, playing an important role in Canada's ability to reduce its debt, increase employment and after-tax incomes, and raise living standards. Canada's goods and services exports now account for 43 percent of its GDP, up from 26 percent in 1989. The past nine consecutive years of economic growth have been accompanied by substantial job gains for Canadians.

"Canada will work towards a world trade system that is fair and beneficial for all," said Mr. Pettigrew. "But we will ensure Canadian culture and social values can continue to flourish in this system."

The Minister also emphasized the Government of Canada will continue to consult Canadians as it seeks to secure markets for Canadian products and services, provide better access to lower cost goods and services, and promote a level playing field for Canadian business.

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For additional information on the results of Canada's review visit the Department of Foreign Affairs and International Trade's Web site at http://www.dfait-maeci.gc.ca/tna-nac/wto-e.asp#mechanism

You may also contact:

Sylvie Bussières

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874