November 1, 2001 (1:15 p.m. EST) No. 149

CANADA AND RUSSIA TO DISCUSS ECONOMIC COOPERATION AT INTERGOVERNMENTAL ECONOMIC COMMISSION MEETING

International Trade Minister Pierre Pettigrew will today co-chair the fifth Canada-Russia Intergovernmental Economic Commission (IEC) meeting in Ottawa with Russian Federation Deputy Prime Minister Viktor Khristenko.

"The IEC provides an excellent forum to enhance economic cooperation between Canada and Russia," said Mr. Pettigrew. "This meeting also takes place at a very promising time for Canada-Russia trade, with Canadian exports to Russia having grown steadily since the spring of 2000."

Bilateral trade between the two countries totalled $866 million in 2000.

The IEC is an industry-led bilateral forum that aims to foster trade and economic relations, investment and the transfer of technology between Canada and Russia. The IEC also seeks to address irritants that impede the expansion of trade and investment and to resolve specific problems relating to market access, taxation and legal difficulties affecting exporters and investors.

During the meeting, working groups on housing and construction, fuel and energy, mining, and agriculture will report on projects undertaken since the IEC last met, in June 2000, when Minister Pettigrew led a trade mission to Moscow. There will also be a round table on northern cooperation.

While in Ottawa, Mr. Khristenko will also meet with Prime Minister Jean Chrétien, Minister for International Cooperation Maria Minna, and Minister of Public Works and Government Services Alfonso Gagliano. He will be accompanied by a delegation of Russian government and business representatives.

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For further information, media representatives may contact:

Sébastien Théberge

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874