March 9, 1999 (2:15 p.m. EST) No. 52

MARCHI ANNOUNCES FIRST-EVER

YOUNG ENTREPRENEURS MISSION

International Trade Minister Sergio Marchi today announced that he will be leading a young entrepreneurs partnering mission to northern California April 6 to 8. This will be the first trade mission to focus exclusively on Canadian innovators who are playing a leading role in knowledge-based industries.

"We will be taking our best and brightest high-tech entrepreneurs and introducing them to potential U.S. business partners," said Mr. Marchi. "A major focus of this mission is to promote strategic alliances between Canadian companies and those in San Francisco and the Silicon Valley."

Approximately 50 young entrepreneurs from across Canada in the fields of animation, environmental technologies and hardware and software technologies for the Internet will accompany Minister Marchi to northern California.

"I'm enthusiastic at the prospect of leading a team of young Canadians who know what they want and are prepared to go for it," said Mr. Marchi.

The mission will also include a separate program showcasing animation education in Canada.

With revenues in 1997 of $65.6 billion, Canada's information and communications technology industry has been growing by 9.3 percent per year since 1990. Canadian high-tech products have won worldwide recognition for their quality and innovation.

The San Francisco Bay Area, which includes Silicon Valley, is one of the premier centres of the world's knowledge-based industry and is home to 7000 high-tech companies representing a combined market value of US$450 billion.

"Canadian companies have a great deal to offer the Bay Area in terms of both trade and investment," Mr. Marchi said. "Our high technology is cutting-edge and offers great value to potential U.S. partners."

Canadian companies interested in participating may contact the Department of Foreign Affairs and International Trade at (613) 944-2520; fax (613) 996-3406; or visit our Web site (http://www.infoexport.gc.ca/section4/missions/california). The deadline for mission applications is March 18.

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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