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<p><font size="+1"></font><font size="+1"><strong>2004/25 <u>CHECK AGAINST DELIVERY</u></strong></font></p>
<p align="CENTER"><font size="+1"><strong>NOTES FOR AN ADDRESS BY</strong></font></p>
<p align="CENTER"><font size="+1"><strong>THE HONOURABLE GAR KNUTSON,</strong></font></p>
<p align="CENTER"><font size="+1"><strong>MINISTER OF STATE (NEW AND MERGING MARKETS),</strong></font></p>
<p align="CENTER"><font size="+1"><strong>ON THE OCCASION OF</strong></font></p>
<p align="CENTER"><font size="+1"><strong>THE OPENING OF THE RIO DE JANEIRO OFFICE</strong></font></p>
<p align="CENTER"><font size="+1"><strong>OF EXPORT DEVELOPMENT CANADA</strong></font></p>
<p><font size="+1"><strong>RIO DE JANEIRO, Brazil<br>
March 23, 2004</strong></font></p>
<p>I am delighted to participate in such an important event and in such a beautiful city, and
I would just like to say a few words.</p>
<p>Prime Minister Paul Martin appointed me Minister of State for New and Emerging
Markets with special priority for Brazil, China and India. Under Mr. Martin's leadership,
the Government of Canada is putting a stronger emphasis on global trade and
investment. With that in mind, it is with great pleasure that I am here today with such
exceptional representatives from Export Development Canada, otherwise known as
EDC. EDC is doing excellent work around the world, giving tremendous support to the
Canadian private sector in its international dealings. </p>
<p>Canada is a trading nation. In fact, exports constitute 43 percent of our gross domestic
product. This is a greater percentage than in any other G7 nation, and four times higher
than in the U.S. and Japan. We are the world's sixth largest trading nation, accounting
for approximately 4.5 percent of global trade. And EDC is recognized as a key partner
for Canadian exporters.</p>
<p>As you may know, with bilateral trade of $2.9 billion per year and Canadian investment
at $4.6 billion, Brazil is Canada's largest trading partner in South America.</p>
<p>Over the years, EDC has played a vital role in the development of this key economic
relationship. In particular, since EDC opened its office in Sao Paulo in 2001, the work of
Mr. Escobar and his team has been outstanding. I would like to congratulate them
tonight.</p>
<p>Mr. Escobar has again shown his wisdom in hiring a first-class director for the office in
Rio, and I want to wish Fernanda Custodio all the best as she joins the Canada Team.</p>
<p>In concluding, I would like to invite you to consider Canada as a source of high-quality
products and services in several key sectors, not only in the oil and gas sector, but also
in information technologies and communications, mining, the environment, agriculture,
pulp and paper and transportation. I invite you to contact our Consulate General and
the EDC office in Rio to pursue such avenues.</p>
<p>Thank you very much.</p>
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