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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title>CANADIAN COMPANIES FORGE NEW LINKS ATCANADA EXPO '96 AS EGGLETON SIGNS CANADA-CHILE FREE TRADE AGREEMENT</title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> December 3, 1996 No. 231 CANADIAN COMPANIES FORGE NEW LINKS AT CANADA EXPO '96 AS EGGLETON SIGNS CANADA-CHILE FREE TRADE AGREEMENT The quality and expertise of Canadian companies will be on display this week as International Trade Minister Art Eggleton and some 170 Canadian businesses attend Canada Expo '96 in Santiago, Chile, the home of Canada's newest free trade partner. Seven provinces and many Team Canada companies will also attend the fair. While in Chile, Mr. Eggleton will also sign the Canada-Chile Free Trade Agreement. On November 18, Prime Minister Jean Chrétien and Chilean President Eduardo Frei signed an understanding to finalize the text and implement the agreement. "Canada Expo '96 is the perfect event to launch a new era of partnership between Canada and Chile," said Mr. Eggleton. "Now is the time for Canadian companies to consolidate their position in the Chilean market and to prepare for the advantages that the Free Trade Agreement will bring. I am confident that this show will result in significant new business activity between our nations." The December 4-6 event will bring together influential Chilean decision makers and Canadian companies representing a variety of sectors, including: construction products, advanced technologies, agri-food, plastics, automotive parts, industrial machinery, environmental equipment and services, health care, education and many others. Mr. Eggleton will make a keynote address to about 1 000 guests at the event's opening ceremonies at the Casa Piedra in Santiago on December 4 at 11:00 a.m. He will later meet with key Chilean ministers. Patterned on the highly successful Canada Expo '94 in Mexico City, Canada Expo '96 will allow Canadian business people to contact potential clients, assess market demands for their products or services, and appoint local agents or distributors. More than 330 business people from all provinces will attend the event. Chile has the most stable and fastest-growing economy in its region. Over the last decade, annual economic growth has averaged almost 7 per cent. Market-oriented policies have encouraged an entrepreneurial spirit and a strong private sector. With low unemployment, falling inflation and rising wages, Chile has established its credentials as a desirable trade and investment partner. Many companies are finding that Chile is an excellent gateway to the expanding markets of Latin America. Chile's market liberalization and economic stabilization programs have already led to a significant increase in the volume of Canadian business with that country. Total two-way Canada-Chile trade has doubled since 1991, with shipments totalling $666 million in 1995, up 20 per cent from the 1994 total of $553 million. Canadian exports to Chile increased 47 per cent from 1993 to 1994, and a further 23 per cent to $387 million in 1995. The Canada-Chile Free Trade Agreement will result in immediate duty-free access for most industrial goods, which account for 80 per cent of Canadian exports, and the elimination of Chile's 11 per cent import duty on almost all remaining industrial and resource-based goods over five years. Canadian exporters' overall access to Chilean markets will now be better than that of their competitors in the United States, the European Union, Argentina and Brazil. Corporate sponsors are helping to fund both the event and technical seminars that will demonstrate the expertise of Canadian companies. Sponsors include: Nova Corporation, Newbridge Networks, Canadian Airlines, Methanex, Gildemeister (Finning), Seagrams, Nortel, Bank of Nova Scotia, Toronto Dominion Bank and SNC Lavalin. Canada and Chile hope to implement the Free Trade Agreement in June 1997. - 30 - A media kit is available through the Department's Web site at: http://www.dfait-maeci.gc.ca/english/trade/events.htm For further information, media representatives may contact: Nicole Bourget Director of Communications Office of the Minister for International Trade 996-6271 Media Relations Office Department of Foreign Affairs and International Trade (613) 995-1874 This document is also available on the Department's Internet site: http://www.dfait-maeci.gc.ca VISIT OF THE HONOURABLE ART EGGLETON TO CANADA EXPO '96, SANTIAGO, CHILE DECEMBER 4-5, 1996 PROGRAM Wednesday, December 4, 1996 10:30 a.m. Bilateral meeting with Foreign Affairs Minister José Miguel Insulza 11:00 a.m. Canada Expo '96, Official Opening ceremonies and speech, Casa Piedra 12:00 p.m. Walk-about to review show and meet with companies 1:00 p.m. Round Table meeting with Trade Commissioners Media interviews Thursday, December 5, 1996 8:35 a.m. Bilateral meeting with Finance Minister Eduardo Aninat 9:00 a.m. Canada-Chile Free Trade Agreement signing ceremony, Casa Piedra 9:50 a.m. News conference </body> </html>

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