April 28, 1998 No. 101

MARCHI WELCOMES STUDY ON BENEFITS

OF TRADE AND INVESTMENT LIBERALIZATION

International Trade Minister Sergio Marchi today welcomed a study on the benefits of trade and investment liberalization released in Paris by the Organization for Economic Co-operation and Development (OECD). The study was presented to ministers of OECD countries at their annual meeting.

"This solid study helps show that, in the long term, liberalization of trade and investment benefits society," said Mr. Marchi. "It is an important contribution to public discussion of these matters. I urge Canadians to read it as they consider Canada's future in the global marketplace."

At their meeting last year, ministers called on the organization to produce a "focussed, multidisciplinary study of the benefits of trade and investment liberalization." Mr. Marchi noted that in response to the ministers' request, the organization "had made a sincere effort to increase public understanding of liberalization."

The comprehensive study, Open Markets Matter: The Benefits of Trade and Investment Liberalisation, says that short-term structural adjustment is necessary for longer-term prosperity, and that appropriate complementary domestic policies are needed to ease adjustment.

"The study also shows that liberalization of trade and investment has an impact on other areas such as labour and the environment," Mr. Marchi noted. "Clearly, trade and investment policy cannot be considered by any of our governments in isolation."

The minister added that the study could assist OECD member governments in discussing these trade and investment issues with the growing number of interested groups and individuals.

The full report can be found on the OECD Web site at http://www.oecd.org/ech/special.htm

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For further information, media representatives may contact

Leslie Swartman

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874

This press release is also available on the Department's Internet site: http://www.dfait-maeci.gc.ca