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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title></title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> 2004/14 CHECK AGAINST DELIVERY NOTES FOR AN ADDRESS BY THE HONOURABLE GAR KNUTSON, MINISTER OF STATE (NEW AND EMERGING MARKETS), AT THE CENTRAL AMERICA CIRCUIT LUNCHEON PANAMA CITY, Panama March 4, 2004 It is with great pleasure that I open the Panama portion of the Central America Circuit Trade Mission. This mission has already benefited greatly from visits to Costa Rica, El Salvador and Guatemala, and we are all pleased to be here in Panama. I would also like to acknowledge the presence of our mission partners, whose support is greatly appreciated; Agriculture and Agri-Food Canada, Canada's International Trade Centres, Export Development Canada, the Canadian Commercial Corporation, and the Ministry of Regional Economic Development of Quebec. I encourage you to speak with them to see how they can assist you. Expocomer 2004 is the perfect venue for investigating trade opportunities in Panama, as well as other countries in the Americas, Africa, Asia and Europe. This mission is proud to highlight Canada's 22nd consecutive year of participation in Expocomer. In fact, Canada is the only country to have participated every year since the inception of this important trade show! It is also with much pleasure that I welcome Vice-President Kaiser Bazán to this luncheon. He is a good friend of Canada. Having spent many years in Canada as a young engineer and later as Panama's Ambassador to Canada, Vice-President Bazán has not only had the fortunate experience of learning about the warmth of the Canadian people, but also the unfortunate experience of learning about the extreme cold of Canada's winters! We were pleased to welcome the Vice-President back to Canada in December 2003, when he visited Ottawa to sign a memorandum of understanding with the Canadian Commercial Corporation to help facilitate relationship building between the two countries on the development of information and communication technologies. The relationship between Canada and Panama has traditionally been close, and it continues to grow. Our two countries share many common values and characteristics. Canada and Panama both have relatively small, multicultural and multi-lingual populations. We also share a commitment to investing in our people, particularly through ensuring high- quality education and health for all. Our shared vision does not stop there; our two countries share common interests on global issues and cooperate widely in international activities. In December 2003, Paul Martin was sworn in as Canada's new Prime Minister. He has made it one of his foremost priorities to forge partnerships with other regions of the world. As part of my mandate as Minister of State for New and Emerging Markets, he asked me to raise Canada's profile in expanding and dynamic markets, such as Panama. And this is why I am leading Central America Circuit 2004, a mission of over 30 Canadian business delegates from small, medium-sized and large companies that are eager to introduce their goods, services, capital, people, and knowledge to markets in Panama and throughout Central America. This select group of Canadian businesses is active in the agricultural and food sector, environmental technologies, engineering services, transportation services, educational services and the construction materials sector. Panama is a strategic trade partner for Canada, not only because of the leadership role it plays in international trade forums, but also because of its geographic position in the Americas and because it is the home of the Panama Canal. The Canal, and its future multibillion dollar expansion, as well as Panama's commerce, banking, insurance and other services, present a multitude of opportunities for Canadian investment and trade. Panama also offers the advantages of the Colón Free Zone, the second largest free trade zone in the world, which serves as a nerve centre for thousands of manufacturers selling into South and Central America and the Caribbean. In addition, because of Panama's wonderful climate and diverse ecosystems, much opportunity exists in the tourism industry. This is already evidenced by the increasing number of Canadian tourists and retirees travelling to Panama each year. As Vice-President Bazán learned during his lengthy stay in Canada, our country is also a very strategic partner for Panama. Canada is a trading nation. In 2002 Canada enjoyed its 11th consecutive year of economic growth, trading $2.5 billion per day in goods and services with the rest of the world. The export of goods and services represented over 40 percent of Canada's gross domestic product (GDP)--a figure that is approximately four times higher than the figures for the United States and Japan, making Canada the number one exporter in the G7. As well, Canada is a prime location for global investors. A recent international business cost study by KPMG, a leading financial advisory firm, ranked Canada as the lowest cost G7 country in which to do business. Canada is a leading edge, technology driven economy that has a lot to offer to Central America--the capacity to create and commercialize knowledge, a highly skilled workforce, an environment that promotes innovation, and communities that are ready to support innovation. Canada is also a responsible partner. Promoting corporate social responsibility is an important element of the Canadian government's approach to promoting international trade and investment. By operating and investing abroad in a socially responsible manner, Canadian companies contribute positively to the communities in which they operate. Canadian products, technology, services and expertise are among the best in the world, and as such are increasingly sought-after in the global marketplace. This is evident in the current Canadian commercial presence in Panama. The Panama Canal Authority has benefited greatly from the purchase of four Canadian tugboats from Irving Shipbuilding and is relying upon Canadian expertise for firefighting training. As well, the new control system for the Miraflores potable water plant has been designed by a Canadian manufacturing firm, Survalent Technology. One of Canada's major banks, Scotiabank, has been active in Panama for 30 years and its investment continues to grow with a new branch opening soon. Hydro-Québec has invested over US$140 million over the past five years in La Fortuna hydroelectric plant in Panama. High-quality Canadian products, such as frozen potatoes and vegetables from McCain International and Cavendish Farms Ltd., are found in Panamanian markets; you read some of your newspapers on newsprint from Abitibi-Price Ltd. Canadian locomotives and civilian helicopters, from General Motors Inc. and Bell Helicopters Canada respectively, play a role in Panama's transportation network. All Canadian companies...all working with local partners. The mechanisms exist for the development of further business links between our two countries. A foreign investment protection agreement is already in place between Canada and Panama, and we continue to work towards concluding the Free Trade Area of the Americas with our hemispheric partners, such as Panama. Let me underline how pleased I am to have with me business participants from Canada who share the vision of increased business relations between Canada and Panama. Canada understands the importance of fostering this relationship and is committed to doing so. This trade mission to Central America is an example of that continued commitment. I encourage you, the respected business representatives of Canada and Panama, to meet and investigate the many mutually beneficial opportunities that exist. Thank you. </body> </html>

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