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<title>EGGLETON ANNOUNCES ADDITIONAL EXPORT FINANCING FOR CHINA</title>
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<p><font face="Univers" size="+2"></font><font face="Univers" size="+2">November 26, 1996 No. 217</font></p>
<p align="CENTER"><font face="Univers" size="+2">EGGLETON ANNOUNCES ADDITIONAL EXPORT FINANCING FOR
CHINA</font></p>
<p><font face="Courier">The Honourable Art Eggleton, Minister for International Trade, today announced,
at the Canada-China Business Council annual general meeting in Shanghai, Canada's
intention to negotiate the extension of a concessional line of credit to China for
up to $75 million. </font></p>
<p><font face="Courier">"Canada is committed to supporting Canadian businesses in China," said Mr.
Eggleton. "The extension of a concessional line of credit will ensure that
Canadian exporters are on the same footing as competitors who use similar
financing facilities in China." </font></p>
<p><font face="Courier"> </font></p>
<p><font face="Courier">The Export Development Corporation (EDC) has been asked to begin discussions with
Chinese officials on this concessional line of financing. The EDC also has
available several commercial lines of credit with Chinese banks. These lines can
provide up to $430 million in export financing to support the sale of Canadian
goods and services. </font></p>
<p><font face="Courier">As Canada's fourth-largest export market, China constitutes a priority country for
Canadian exporters. Many of Canada's strengths closely match China's needs,
making China a key market for Canadian exports of value-added goods and related
services. </font></p>
<p align="CENTER"><font face="Courier">- 30 -</font></p>
<p><font face="Courier">For further information, media representatives may contact:</font></p>
<p><font face="Courier">Nicole Bourget</font></p>
<p><font face="Courier">Director of Communications</font></p>
<p><font face="Courier">Office of the Minister for International Trade</font></p>
<p><font face="Courier">(613) 996-6271</font></p>
<p><font face="Courier">Media Relations Office</font></p>
<p><font face="Courier">Department of Foreign Affairs and International Trade</font></p>
<p><font face="Courier">(613) 995-1874</font></p>
<p><font face="Courier">This document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca</font></p>
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