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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title>MR. MARCHI - ADDRESS AT A BUSINESS DINNER HOSTED BY THE CANADIAN EMBASSY</title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> 99/15 CHECK AGAINST DELIVERY NOTES FOR AN ADDRESS BY THE HONOURABLE SERGIO MARCHI MINISTER FOR INTERNATIONAL TRADE AT A BUSINESS DINNER HOSTED BY THE CANADIAN EMBASSY TEL AVIV, Israel February 28, 1999 (1:00 p.m. EST) On behalf of the Canadian delegation, let me first of all say how delighted we are to be here in Israel. Canadians know that when we are in Israel, we are among friends. And you have certainly reinforced that feeling with your warm reception. It is good to be here this evening and to end our trade mission where our free trade efforts in this region began. On the way over this evening, I was thinking about the similarities between our two countries -- and there are more than you might realize. Both border on the sea and have relatively small populations concentrated in large urban centres. Both are home to many people who migrated from around the world. Our political systems are both based on parliamentary democracy and we espouse similar views on many international matters. And both Israel and Canada are export-oriented nations, with tremendous strength in high technology. Of course, there are also some important differences between our countries. In Canada hockey reigns supreme, while in Israel soccer and basketball command most of the attention. But while there are some differences between us, tonight I want to celebrate what we have in common, and that is a future of increasing prosperity based on growing trade and investment links. It is just over two years ago that the Canada-Israel Free Trade Agreement (CIFTA) came into force. The impetus for that agreement, Canada's first outside our hemisphere, came from the understanding on both sides that freer trade is the way of the future. Indeed, Israel and Canada are firmly committed to freer trade. Canada has signed free trade agreements with the United States, Mexico and Chile, and we are deeply involved in negotiating a Free Trade Area of the Americas, as well as pursuing a free trade agreement with the European Free Trade Association. And just yesterday, I signed a Framework for Economic Co-operation and Trade with the Palestinians, thereby granting them the benefits of free trade. Israel's support for freer trade is evidenced by your having signed agreements with the European Union, Turkey, Slovakia, Czech Republic and, shortly, with Mexico. The Free Trade Agreement between us was also born out of the strong historical ties between our two countries. Our relationship is rooted in common values and shared beliefs. We share links of history, commerce, culture, family and religion. Canada's ongoing commitment to the peace process here in the Middle East has also engendered an abiding interest in Israel and its security. But while our interest in Israel may be steeped in history, we come here tonight with our eyes fixed firmly on the future. And we believe that the CIFTA will play a large role in defining that future. When it was signed, some people called the Agreement a leap of faith. We saw it as a declaration of confidence -- confidence in Israel and in this region, confidence in our own ability to sell into a rich and sophisticated market and confidence in the capacity of trade to increase prosperity and create jobs for our people. Since that time, our confidence has certainly been justified. Commercial activity between our two nations has increased dramatically -- up 17 percent in just those two years. Two-way trade now stands at $640 million, and Canadian direct investment in Israel has doubled since 1997. Quite frankly, Israeli companies have been quicker off the mark than Canadians have been in terms of taking advantage of the opportunities presented by the Free Trade Agreement. Indeed, Israeli exports to Canada have almost doubled since it came into force in 1997. Hopefully, with this trade mission we can even things out a bit! The fact is, we see great potential for Canadian goods and services here in Israel. We know that many have already been very well accepted here. Products like the President's Choice line of foods, which is now carried by Greenberg's food stores. Products like Bombardier's Challenger jets, which are now an important part of your domestic air service. We have also seen exciting joint ventures, such as the one between Northern Telecom and TelRad to provide the communications infrastructure for the Israeli Air Force. And in services, examples include Air Canada, which recently won a top international airline award. Air Canada operates a very successful direct route from Tel Aviv to Montreal and Toronto. We were also very pleased that a Canadian engineering and construction firm -- Canadian Highways International Corporation (CHIC) -- was awarded the contract to build the cross-Israel highway. But for all the success stories so far, we know that there are many more waiting to be written. The CIFTA opened doors, and we hope that this trade mission will help to open eyes -- on both sides -- to the possibilities for business between us. I was delighted to learn that the Manufacturers' Association of Israel will be leading a trade and investment mission to Canada next month. This is just one more sign of the growing awareness of the potential of our relationship, and we very much look forward to welcoming you. One of the advantages of the CIFTA is that it is a dynamic -- not a static -- agreement. And if we are to fully realize the potential of our commercial relationship, we need to enhance and expand it. I met this past Thursday with Trade Minister Sharansky and was delighted at the progress made by the Trade Commission on a number of outstanding issues -- progress that will help to expand the Agreement. We are also pleased by the increase in research and development projects that has taken place under the Canada-Israel Industrial Research and Development Foundation (CIIRDF). The Foundation, as you know, was established in 1993 to promote industrial co-operation and has played a key role in matching Israeli and Canadian firms. To date, the Foundation has approved 28 projects, worth over $10 million, in collaborative R&D. The Foundation is a marvellous example of Israelis and Canadians working side by side, learning from one another and pushing the envelope in exciting new areas of research with a view to commercialization. So our relationship stands on solid ground. Through initiatives like the CIFTA and the CIIRDF, we have laid the foundation for much greater trade and investment between us. Now we must take the next step and push our commercial relationship onto the next level. And I would like to hear your ideas about the best way to do that. Are there sectors that we could liberalize further? How can we better promote the opportunities of the CIFTA to our business communities? What's the best way to encourage more business-to-business contacts? How do we encourage more of our small and medium-sized enterprises to export? Should we be promoting more sectoral missions to each other's country? In short, how do we ensure that the full benefits and potential of the CIFTA are realized? From the Canadian perspective, I think we need to do a better job of explaining the benefits we offer to Israeli investors: advantages like a low-cost business environment, a high-tech economy, a superbly educated workforce and a location that makes us the gateway not only to the vast North American market, but also to the growing economies of the Pacific Rim and the Americas. These are some of the issues and some of the possibilities, but I would value your input and suggestions as we move forward. Canada's commitment to freer trade with Israel -- and with others around the globe -- is based not only on commercial considerations, but also on our firm belief that prosperity and peace go hand in hand. Former Prime Minister Yitzhak Rabin once said that "peace requires a world of new concepts," and one of the most important new concepts shaping our world today is freer trade. Commercial ties create a greater incentive to work for peace because when nations begin trading together and establishing mutually beneficial connections with one another, there is a greater tendency to see one another, not as adversaries, but as partners, with common interests. And just as prosperity and stability can contribute to peace, so peace can contribute to prosperity. Just look at the benefits that the peace process has already brought to this region. A large number of capital projects in the areas of transportation, energy and communications are under consideration by Israel and its neighbours -- a development that would have been unthinkable just a few years ago. That is why, throughout our trip to the Middle East, we have made the commitment to contribute to sustainable economic development. That is why we have spoken of the advantages of building a prosperity in which all peoples of the region have a stake. And that is why we have promoted the benefits of freer trade. The signing of the CIFTA marked an important new stage in the Israeli-Canadian relationship. It made us partners not only for peace but for progress, not only for security but for prosperity, and not only for survival but for enrichment. This region, too, through the Oslo and Wye Accords, has been set on a new path. And while we do not underestimate the challenges still to be overcome, neither should we be blind to the progress you have made. So let us continue to work for freer trade and greater prosperity in this region, knowing that as we do, we are helping to create the foundations for peace. In those efforts, you will find in Canada a firm friend and a faithful partner. Thank you. </body> </html>

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