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<html> <head> <meta name="Generator" content="Corel WordPerfect 8"> <title>MR. EGGLETON - ADRESS ON THE OCCASION OF THE SIGNING OFTHE CANADA-ISRAEL FREE TRADE AGREEMENT - TORONTO, ONTARIO</title> </head> <body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0"> 96/33 CHECK AGAINST DELIVERY NOTES FOR AN ADDRESS BY THE HONOURABLE ART EGGLETON, MINISTER FOR INTERNATIONAL TRADE, ON THE OCCASION OF THE SIGNING OF THE CANADA-ISRAEL FREE TRADE AGREEMENT TORONTO, Ontario July 31, 1996 Today, we have come together to celebrate the signing of a Free Trade Agreement with Israel. And we are honoured, indeed, to welcome to Canada the Israeli Minister for Industry and Trade, Natan Sharansky. I can say without hesitation, sir, that you are a hero to many. During the darkest days of Soviet oppression, you were a torchbearer for freedom. Like the nation you serve, you have endured the pain and the peril that come from standing fast to principles. But like Israel itself, you have chosen to live in the hopes of the future rather than in the hurts of the past. Like the nation you serve, you have endured despite oppression, succeeded despite opposition and triumphed, despite the odds. And just as Israel has become famous for making the deserts bloom, so too have you demonstrated a determination to persevere and to transcend. We are honoured by your presence here today. In two years, Israel will celebrate the 50th anniversary of its founding. Fifty years of struggle and success. Fifty years of perseverance and progress. And as Israel embarks on the next stage of its journey, Canada is proud to stand as both ally and friend. Israel and Canada have long enjoyed close relations. Our relationship is rooted in common values and shared beliefs -- the belief in freedom and the dignity of the individual. And our relationship has been grounded in common hopes -- hopes for peace and prosperity. Today, we move toward cementing those ties and realizing the economic potential of our relationship. In November 1994, Prime Minister Yitzhak Rabin and Prime Minister Jean Chrétien, began the process that led to today's historic agreement. I am delighted that the new government of Israel has chosen to embrace and support the Free Trade Agreement with Canada. This is a strong demonstration of Israel's determination to work for the creation of a new Middle East: a Middle East that is dynamic and outward looking; embracing change and expanding opportunities. In today's ever-changing world, no nation, however rich or powerful, can long remain isolated from the great economic revolution sweeping the globe. Markets are opening up, barriers are falling down and the free movement of goods, services -- and ideas -- is becoming unstoppable. The old divisions between domestic and international markets are becoming more semantic than substantive. Differences between nations are giving way to new partnerships. Companies are treating the world as their marketplace, and the opportunities are boundless. Both Israel and Canada have understood these new realities. That is why Israel has been busy expanding its trade ties, signing free trade agreements with the United States, the European Union, Turkey, the Czech Republic and Slovakia. And that is why Canada has signed on to the NAFTA [North American Free Trade Agreement] and why we are working hard to pave the way for Chile's accession to that agreement. It is why we are such strong supporters of the World Trade Organization and why we are working toward a Free Trade Area of the Americas. In such an environment, it is both appropriate and exciting that Israel and Canada should establish mutual free trade. At present, trade between our two countries is modest, but it's growing. Two-way trade last year was up 37 per cent to stand at over $500 million. I believe that that figure is set to grow exponentially, as this agreement opens up our markets to one another. In fact, even before this agreement was negotiated, companies in both countries began to retool and adjust their business plans. Now, Canadian and Israeli companies will have duty-free access to each other's markets for industrial goods. And they will benefit from the reduction or elimination of tariffs on agricultural products. Israel enjoys a strong and growing economy. It boasts a high standard of living and impressive economic growth. Residential construction is surging and foreign investment is increasing. And if Israel has been able to achieve all of this during 48 years of difficulties and distractions, think what it could accomplish in an environment of peace and stability! Quite simply, Israel is set to become an enormously powerful economy in an important part of the world, and it is vital to Canadian interests that we be present there. Israel as a whole represents a healthy and expanding market for Canadian goods and services, but there are some sectors that offer particularly strong potential. These include advanced electronics and communication systems, power and energy projects, oil and gas exploration, as well as agri-food products and environmental technology. All of these are areas where Canada enjoys world-class expertise, and all of these are areas of opportunity in Israel. Canadian companies wanting to expand into Israel will find a wealth of support. The Canadian Embassy in Tel Aviv is working hard to line up potential partners and can provide valuable market intelligence for both Canadian and Israeli businesses. One important vehicle for this search has been the Canada-Israel Industrial Research and Development Foundation. Established in 1993 to promote industrial co-operation, it has played a key role in matching Canadian firms with ones in Israel. To date, the Foundation has approved 11 projects, worth over $9 million, in collaborative R&D [research and development]. The Foundation also provides repayable grants for promising joint ventures. In addition, the Export Development Corporation [EDC] offers four lines of credit for buyer credit financing in Israel. And Canadian companies looking for financial or risk management services will find a ready source in the EDC. So the support is there, and now that governments have played their part in establishing the infrastructure for free trade, it will be up to the private sectors in both countries to step forward and realize the potential of this new relationship. Complementing Israel's economic reforms are its growing political relations. At the end of 1995, Israel had re-established relations with more than 40 countries that had broken ties in the 1960s and early 70s. Canada has always been firmly committed to the Middle East Peace Process. And the relationship between peace and freer trade is clear. At its best, free trade acts as a system of rules for peaceful economic relations. When nations begin trading together and establishing a mutually beneficial connection with each other, there is a greater tendency to see the other, not as an adversary to be confronted, but as an ally to be consulted. We can see evidence of this reality already: As a result of the Peace Process under way, Israel and its neighbours are contemplating a large number of capital projects in the areas of transportation, energy and communications. Canada supports these constructive alliances and wants to be a full and active player in the future economic development of this region. And while this agreement is between Canada and Israel, we have offered to extend its benefits to goods produced in the West Bank and Gaza. We are examining ways to best achieve this in co-operation with the Palestinian Authority. Canada also intends to support the Middle East and North Africa Summit, scheduled for November in Cairo. We will be sending an unprecedented private sector delegation to this meeting -- evidence not only of our interest in this area, but of our conviction that significant business development is possible there. Finally, Canada welcomes today's signing because trade means jobs and growth here at home. Fully 37 per cent of our GDP [gross domestic product] is generated through exports. One in three jobs in Canada depends upon our ability to sell our goods and services abroad. With a relatively small population, Canada simply must find markets abroad to buy what we produce. We must expand and diversify our trade or risk stagnation. That is why we have set ourselves the goal of doubling the number of companies exporting by the year 2000. And this free trade agreement with Israel offers a rich market for Canadian companies -- whether currently exporting or not -- to explore. Today, we lay the foundation for the challenging work of doing business with one another. Now, our strong bonds of friendship will be complemented by stronger economic ties. More than ever, we will see ourselves as partners -- not only for peace, but for progress, not only for security but for prosperity and not only for survival, but for enrichment. Israel and her distinguished son, Natan Sharansky, embody the will in all of us to persevere and to transcend. If this agreement can contribute, in even a small way, to creating the conditions that will lead to peace, then we will have built better than we know. Thank you. </body> </html>

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