<html>
<head>
<meta name="Generator" content="Corel WordPerfect 8">
<title>CANADA REMOVES BARRIERS TO COMMERCIAL AND FINANCIAL TRANSACTIONS WITH IRAQ</title>
</head>
<body text="#000000" link="#0000ff" vlink="#551a8b" alink="#ff0000" bgcolor="#c0c0c0">
<p><font size="+1"></font><font size="+1"><strong>June 4, 2003 <em>(1:15 p.m. EDT)</em> No. 79</strong></font></p>
<p align="CENTER"><font size="+1"><strong>CANADA REMOVES BARRIERS TO COMMERCIAL AND FINANCIAL TRANSACTIONS
WITH IRAQ</strong></font></p>
<p>Foreign Affairs Minister Bill Graham and International Trade Minister Pierre Pettigrew today announced that Canada is
removing barriers to trade, transportation links and financial transactions with Iraq. This announcement follows the United
Nations Security Council's (UNSC) adoption of Resolution 1483 lifting sanctions against Iraq.</p>
<p>"Canada welcomed the Security Council's decision to lift sanctions," said Minister Graham. "By rapidly taking measures to
implement the Council's decision, Canada is signalling its serious commitment to upholding UN resolutions and to helping
the Iraqi people rebuild their society and economy."</p>
<p>"Restoring commercial ties with Iraq is an important priority that will bring benefits and opportunities to both Iraq and the
international community," said Minister Pettigrew. "From the beginning, Canada has been committed to helping rebuild
Iraq. This significant first step will permit Canadian companies to participate in reconstruction efforts."</p>
<p>UNSC Resolution 1483, adopted on May 22, 2003, lifts sanctions that have prohibited almost all commercial and financial
transactions with Iraq since 1991. However, the resolution maintains a freeze on Iraqi government assets outside of Iraq, as
well as on any funds stolen by Saddam Hussein and senior officials of the former Iraqi regime and their family members. It
also maintains a ban on the sale or supply of arms to Iraq.</p>
<p>In addition to allowing certain commercial transactions with Iraq to resume, lifting the sanctions will simplify the delivery
of humanitarian and reconstruction assistance, including that from the Government of Canada. It will also enable Canadians
to send money to help family and friends in Iraq.</p>
<p>The sanctions against Iraq were implemented through regulations under Canada's United Nations Act. The Department of
Foreign Affairs and International Trade today approved a measure, allowed under these regulations, to permit most
commercial and financial transactions, as outlined in Resolution 1483. Further measures, including amendments to the Iraq
regulations themselves, will be required in order to fully implement Resolution 1483.</p>
<p>For more information on UNSC Resolution 1483:</p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070222050354/http://www.un.org/Docs/sc/unsc_resolutions03.html">http://www.un.org/Docs/sc/unsc_resolutions03.html</a></p>
<p align="CENTER">- 30 -</p>
<p>For further information, media representatives may contact:</p>
<p>Isabelle Savard</p>
<p>Director of Communications</p>
<p>Office of the Minister of Foreign Affairs</p>
<p>(613) 995-1851</p>
<p>Sébastien Théberge</p>
<p>Director of Communications</p>
<p>Office of the Minister for International Trade</p>
<p>(613) 992-7332</p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070222050354/mailto:sebastien.theberge@dfait-maeci.gc.ca">sebastien.theberge@dfait-maeci.gc.ca</a></p>
<p>Media Relations Office</p>
<p>Department of Foreign Affairs and International Trade</p>
<p>(613) 995-1874</p>
<p><a href="https://bac-lac.wayback.archive-it.org/web/20070222050354/http://www.dfait-maeci.gc.ca/">http://www.dfait-maeci.gc.ca</a></p>
</body>
</html>
