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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title>MR. MARCHI - ADDRESSTO THE CANADA-SAUDI BUSINESS COUNCIL AND CHAMBER OF COMMERCE - RIYADH, SAUDI ARABIA</title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> 99/10 CHECK AGAINST DELIVERY NOTES FOR AN ADDRESS BY THE HONOURABLE SERGIO MARCHI, MINISTER FOR INTERNATIONAL TRADE, TO THE CANADA-SAUDI BUSINESS COUNCIL AND CHAMBER OF COMMERCE RIYADH, Saudi Arabia February 22, 1999 (12:50 p.m. EST) It's a real pleasure to be here in the Kingdom of Saudi Arabia. First of all, I want to congratulate the Government and the people of Saudi Arabia on your centenary. Your achievements since King Abdulaziz first launched the process of unification have been remarkable, and you are well positioned to meet the challenges of the next 100 years. Canada and Saudi Arabia have a broad partnership of long standing. As allies in the Gulf War, co-workers in the struggle to bring peace and security to the Middle East and Gulf region, as well as partners in trade, we have built a solid foundation for further growth in our relations. This is complemented by strong person-to-person links. There are 7000 Canadians working, teaching and providing training in Saudi hospitals, and 400 Saudi students currently studying in Canada. Along with 35 Canadian business leaders, I have come to Saudi Arabia to bring a very simple message: namely, that we want to do more business with you. We want to build on the efforts of the Canadian companies that are already active in the Kingdom, and on the excellent work of the Joint Economic Commission. The King Abdulaziz Historical Museum is a stunning example of what Canadians and Saudis can accomplish when they work together. An architectural firm from Toronto - Moriyama and Teshima - designed the site and the Museum using Arabian themes and materials. And a combination of the Royal Ontario Museum and Canadian communications and technology firms, together with their Saudi colleagues, designed the displays, which include the latest high-tech interactive tools for children. This project came together under very tight time frames because Saudis and Canadians shared a common vision and worked together as a team - each ready to learn from the other. And it is a wonderful example of what we can accomplish together. As we move our commercial relationship to the next level, let me suggest three areas where we might focus our efforts: first, increasing trade between us, especially in the area of high technology; second, training and education; and third, increasing Saudi investment in Canada. Let me just touch on each of these. In terms of enhancing trade between us, we begin from a very solid base: two-way trade now stands at over $1 billion. And there is already a strong Canadian presence here: from our competitive natural resource-based products to the latest telecommunications switching devices and corporate jet aircraft. But we want to do more. We want to establish and strengthen partnerships. And the fact is that Canadians are discovering Saudi Arabia as never before. They are recognizing that the time has come to realize the vast untapped potential of our commercial relationship - that it is indeed time to extent our hands across the sands and the snow and embrace the possibilities that await us. Take the increasing emphasis by Saudi Arabia on the private sector to create jobs and generate economic growth. This country realizes that the days of high oil prices are gone, and that governments alone cannot provide economic opportunity to a rapidly growing population. More and more, it is the private sector that will need to step to the fore. This is something that Canadians understand very well. We have just come through a period of adjustment, during which we liberalized trade and investment and privatized or deregulated such major industries as telecommunications, transportation and power. We understand the imperative of improving competitiveness; of training our workers for the new knowledge-based economy. We understand the challenges, and we're meeting them. We stand ready to share our experience and expertise with Saudi Arabia as it confronts similar issues. Let me give you one specific example: high technology. I don't need to remind any of you that the global economy is changing; that prosperity in the future will be determined not so much by the resources a country possess, but by the resourcefulness its people demonstrate. In such a world, knowledge is the new currency, and those countries that make the shift to a knowledge-based economy will leap-frog their neighbours and pass their competitors. One of the key requirements of a knowledge-based economy is having the technology to manage the increasing amounts of information that are available. Saudi Arabia has understood this better than many countries, and boasts a sophisticated infrastructure in information technology. As you move forward, and continue to upgrade that infrastructure to stay at the leading edge, Canada offers world-class products at very competitive prices. And in almost every area. In fact, if the rest of the world suddenly lost all of its telecommunications capacity, Canadian companies could supply every single facet of a new telecommunications infrastructure - from equipment design and manufacture, through advanced networking technology, to the software and services needed to run and maintain it. So take a careful look at what Canada has to offer. I think you'll be impressed. Increasing trade between us, especially in the area of high technology, is one area of promise. Education and training is another priority. As I mentioned a moment ago, one of the key components of a modern economy is the training of our people. I know that the Kingdom of Saudi Arabia understands the importance of this, with its tremendous emphasis on education. And I am proud of the contribution that Canada is making to your efforts in this regard. More than 600 Saudi doctors have trained in Canada, and another 160 are training there now. And hundreds of Canadian doctors, nurses and administrators work here in Saudi Arabia. We need to expand these ties. We need to attract more Saudi students to Canada, and to bring more of our technical expertise here to Saudi Arabia. When I meet the Saudi Minister of Higher Education tomorrow, I will extend an invitation for him - and others - to come to Canada to pursue those objectives. The third, and final, area where I think we need to focus our efforts is in attracting more Saudi investment to Canada. Just as we want to increase our presence here in Saudi Arabia, we also invite you to expand your presence in Canada. Canada has much to offer as a destination for Saudi investment. Now, I know that when many Saudis think about Canada they think of a country rich in natural resources, with an economy based mainly on forestry and mining. Well, we're certainly rich in natural resources, but our economy is no longer resource-based. When you think of Canada today, you should be thinking high tech. You should be thinking a knowledge-based economy; fired by information technology, fuelled by the third-largest telecommunications industry in the world, and the fifth-largest aerospace industry. Canada also stands as a gateway to a market of hundreds of millions - not only the United States and Mexico, but to the emerging Free Trade Area of the Americas and to the exciting markets of the Pacific Rim. Canada also offers the best-educated workforce in the world, the most generous tax credits for research and development, and a critical mass in key technologies. The Canadian economy is strong, with low inflation, low interest rates, strong growth and a balanced budget. And for four straight years, the United Nations has ranked our quality of life as the very best in the world. As a first step to attracting more Saudi investment, we should encourage more partnerships between Canadian and Saudi companies. I am confident that this trade mission will produce many exciting developments on this front. Now, let me conclude. We have come to Saudi Arabia with high hopes. We are committed to forming partnerships for the long term. And we want to build relationships - not just acquaintanceships. There is an old Saudi proverb that says that it is wise to dig a well before you are thirsty. The new realities of globalization are sweeping toward us. Are we ready for them? Have we prepared our people and our economy to compete in this new environment - indeed, to benefit from it? Let us dig our wells now. Let us build up the capacity to compete and the structures to succeed. And let us build a relationship between our two countries that will benefit us both in the years ahead. Thank you. </body> </html>

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