MARCHI TO VISIT ATLANTATO PROMOTE TRADE AND INVESTMENT
October 8, 1998 (5:30 p.m. EDT) No. 240
MARCHI TO VISIT ATLANTA
TO PROMOTE TRADE AND INVESTMENT
International Trade Minister Sergio Marchi will visit Atlanta, Georgia, on October
13 to 15, and will meet with prominent business and political leaders from the
Atlanta area to promote trade and investment.
"Business has never been better for Canadians in the southeastern U.S. states. The
southeast is one of the fastest growing regions in the United States and offers
Canadian businesses tremendous opportunities," said Mr. Marchi. "In fact, Canadian
exports to the United States are slated to grow by at least $16 billion this year
alone. We have every reason to be enthusiastic about our trading relationship with
the U.S."
In his keynote luncheon speech to the Atlanta Women in International Trade, the
Canadian American Society of the Southeastern United States and the Cobb County
Chamber of Commerce, Minister Marchi will point out to U.S. business leaders that
this is a good time to do business in Canada.
"Canada has a great deal to offer the United States both in terms of trade and
investment," said Mr. Marchi. "Our high technology is cutting-edge and great value
for U.S. firms and consumers. Canada remains a stable, profitable and excellent
location for U.S. investment."
In addition to promoting trade and investment during this trip, Minister Marchi
will discuss hemispheric trade development in his luncheon speech to Latin
American experts at the Carter Center. The Minister will also promote the Canada-U.S. Women's Trade Summit, which will be held in Toronto in May 1999.
During his trip, Minister Marchi will meet with Georgia Governor Zell Miller and
Atlanta Mayor William Campbell. He will also participate in a roundtable
discussion with students from the Georgia Institute of Technology, meet with
Georgia Investment Agency officials, and speak to representatives of some of the
150 Canadian companies located in Georgia.
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A backgrounder on trade between Canada and Georgia is attached.
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 document is also available on the Department's Internet site:
http://www.dfait-maeci.gc.ca
Backgrounder
TRADE RELATIONS BETWEEN CANADA AND GEORGIA
In 1989, the Canada-U.S. Free Trade Agreement (FTA) went into effect, phasing out
almost all tariffs and many non-tariff barriers to trade. Beginning in 1994, the
North American Free Trade Agreement (NAFTA) opened the Mexican market to Canada
and the United States. Two-way trade in goods, services and income between Canada
and the United States totalled nearly $509 billion in 1997, the largest bilateral
exchange in the world.
Canada and the state of Georgia exchange over $19 million worth of products every
day of the year. In 1997, Canada sold Georgia $3.28 billion worth of goods and, in
turn, Georgia sold $3.60 billion worth of goods to Canada. Amounting to $6.88
billion, the trade provided consumers and industries with vital products while
supporting 76 000 jobs on both sides of the border.
Trade is Growing under Free Trade Agreements
Trade between Georgia and Canada continues to grow steadily and significantly. In
the nine years since the FTA took effect, Canadian exports to Georgia have almost
tripled, from $1.33 billion in 1989 to $3.28 billion in 1997, along with similar
increases in imports. Increases in trade have also been apparent since the NAFTA
took effect, with $4.46 billion of total Canada-Georgia trade in 1994 increasing
to $6.88 billion in 1997. Even in the most recent one-year period from 1996 to
1997, two-way trade jumped 22 percent.
Forestry Products
Canada's leading exports to Georgia are forestry products. In 1997, Canada
supplied Georgia with $825 million in forest products, which included $481 million
in softwood lumber and $93 million worth of pulp. Forest products represented over
25 percent of Canada's sales to Georgia in 1997.
Transportation Equipment
The single largest sector of two-way trade between Canada and Georgia is
transportation equipment. In 1997, Georgia sold Canada $1.15 billion worth of
transportation equipment, including $208 million worth of engines and other motor
vehicle parts, and $783 million worth of automobiles. This was Georgia's biggest
export sector, accounting for a third of the state's total sales to Canada. In
turn, Canada sold Georgia $472 million worth of transportation equipment in 1997,
including $226 million worth of motor vehicle engines and other parts, and $118
million worth of aircraft. This was just over 14 percent of Canada's total exports
to Georgia.
Other Notable Areas of Trade
Canada sold Georgia $367 million in equipment and tools, which was over 11 percent
of Canada's total exports to Georgia. This included $77 million worth of
electrical lighting and distribution equipment.
Canada sold $263 million in machinery to Georgia, while Georgia supplied Canada
with $240 million worth of machinery, including $28 million worth of wheel
tractors.
Georgia sold Canada $255 million worth of chemicals and allied products, including
$48 million worth of unshaped plastic materials.
Canadians Go South -- and Georgians Go North
Tourism adds millions to the trade between Georgia and Canada. In 1996, 373 000
Canadians visited Georgia for one night or more and spent nearly $108 million,
while 134 000 residents of Georgia spent almost $100 million in Canada.
Canadian Exports Canadian Imports
Year to Georgia from Georgia Total
1989 $1.33 billion $1.43 billion $2.76 billion
(FTA)
1994 $2.23 billion $2.23 billion $4.46 billion
(NAFTA)
1997 $3.28 billion $3.60 billion $6.88 billion
All figures are in Canadian dollars.