NEWS RELEASESJune 5, 2002 (2:50 p.m. EDT) No. 63 PETTIGREW STRENGTHENS TIES WITH MEXICO International Trade Minister Pierre Pettigrew today concluded the Canada Trade Mission to Mexico City and Monterrey where he assisted delegates in making valuable business linkages with potential partners. "We're confident that the economic recovery now underway will see a resurgent Mexico within North America," said Minister Pettigrew. "This trade mission allowed us to create stronger trade ties between Canada and Mexico--a success that both countries will share in for years to come." On June 4, Minister Pettigrew met with Mexican President Vicente Fox to discuss bilateral relations between the two countries and ways to enhance trade between the two NAFTA partners. Earlier that day, Minister Pettigrew met with Mexican Secretary of the Economy, Luis Ernesto Derbez to follow-up on multilateral issues following their participation in the APEC and NAFTA ministerial meetings of last week. Export Development Canada (EDC) announced that it will be expanding its services in Mexico later this year through a direct presence in Monterrey. In addition to EDC's presence in Mexico City, the new representative will further develop EDC's support for the increased demands of Canadian exporters and investors pursuing business in the key commercial and industrial centre of Monterrey. Solid trade and investment linkages between Canada and Mexico continue to grow since NAFTA's entry into force eight years ago. Since 1994, Canadian exports to Mexico have more than doubled to $2.5 billion in 2001, making it Canada's sixth largest export market overall. Canadian investment in Mexico has tripled since 1994, reaching $4 billion in 2001. More than 60 representatives of Canadian businesses and government organizations participated in the mission to Mexico. - 30 - A backgrounder is attached. For further information, media representatives may contact: Sébastien Théberge Office of the Minister for International Trade (613) 992-7332 Media Relations Office Department of Foreign Affairs and International Trade (613) 995-1874 Backgrounder CANADA-MEXICO BUSINESS AGREEMENTS The following agreements were announced in Mexico, during the trade mission: ATM Export Management Inc., Toronto, Ontario ATM Export Management Inc. signed a Memorandum of Understanding with Intercambi, S.C. of Mexico City, Mexico, to work together as business partners on behalf of Canadian manufacturers in Mexico, and Mexican manufacturers in Canada. They will continue to generate new sales for their mutual clients. They also intend to become recognized as the most effective way for Canadian companies to enter the Mexican market or increase their sales in Mexico, and for Mexican companies to succeed in the Canadian market, in a strong and long-term partnership. ATM Export Management Inc. also signed a similar Memorandum of Understanding with Nucamp, S.A. de C.V. of Monterrey, Mexico. Nucamp will focus its activities in Northern Mexico. Canadian Iceberg Vodka Corp., St. John's, Newfoundland Canadian Iceberg Vodka signed a distribution agreement with Comercializadora Los Agaves, S.A. de C.V. to sell Iceberg Vodka in Mexico. Comercializadora Los Agaves will be given a contract for exclusive distribution rights for a three-year period, and the companies will combine their efforts and expertise to promote the sale of Iceberg Vodka in Mexico. The agreement is valued at $2,475,000, all Canadian content. Export Development Canada (EDC), Ottawa, Ontario EDC, Canada's official export credit agency, has completed a $23 million participation in a loan syndication to Nemak, a subsidiary of Grupo Alfa and a key auto sector company based in Monterrey. This is the second financing arrangement made by EDC in support of Nemak. The loan will assist a variety of Canadian automotive equipment and services suppliers selling to Nemak. HSI Health Services International, Calgary, Alberta HSI Health Services International signed a Memorandum of Understanding with Comercializadora Los Agaves of Mexico City to bring Canadian expertise and investment in the development of a product and its infrastructure, including laboratories, and to develop channels of distribution in China and India. HSI Health Services International invests in international health care projects and brings Canadian expertise on board for these projects. Pure Lean Inc., Medicine Hat, Alberta Pure Lean Inc. signed a letter of intent with Agropecuaria Sapomora S.P.R. de R.L. of Navojoa, Mexico, to participate in a joint venture to use Pure Lean's new hog production system and biowaste composting. The agreement is valued at $2 million, all of which is Canadian content. |