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<title>FOREIGN TRADE CONTRIBUTES TO CANADA'S CONTINUINGRESILIENT PERFORMANCE</title>
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<p><font face="Arial"></font><font face="Arial" size="+1"></font><font face="Arial" size="+1"></font><font face="Arial" size="+1"><strong>June 29, 2001 <em>(10:50 a.m. EDT)</em> No. 92</strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>FOREIGN TRADE CONTRIBUTES TO CANADA'S CONTINUING</strong></font></p>
<p align="CENTER"><font face="Arial" size="+1"><strong>RESILIENT PERFORMANCE</strong></font></p>
<p><font face="Arial"></font><font face="Arial">International Trade Minister Pierre Pettigrew issued a statement today on Canada's robust trade performance.</font></p>
<p><font face="Arial">In the first quarter of 2001, Canada's surplus in trade in goods and services increased strongly, accounting for
more than three quarters of the 2.5 percent growth in the country's real gross domestic product.</font></p>
<p><font face="Arial">"The prosperity of Canadians is directly linked to our success in international trade," said Minister Pettigrew.
"The significant trade increase in the first quarter of 2001 is equal to $500 per Canadian."</font></p>
<p><font face="Arial">Canada's current account established a record surplus of $50.9 billion, at an annual rate, the seventh quarterly
surplus in a row. This development reflects widespread improvements in the trade balance with the United
States, Japan, the European Union and other major trading partners. Exports of energy were of particular
importance, accounting for 60 percent of the increase in the overall merchandise surplus.</font></p>
<p><font face="Arial">The current issue of the <em>Canadian Trade Review </em>presents Canada's trade and investment performance for the
first quarter of 2001. In addition, it features recent developments in Canada's top 10 foreign markets. It
suggests that Canada needs to redouble its efforts in promoting trade and related investment to forestall an
erosion of its presence in international markets. The <em>Canadian Trade Review </em>is available on-line at
<a href="https://bac-lac.wayback.archive-it.org/web/20071206212345/http://www.dfait-maeci.gc.ca/eet/new-e.asp">http://www.dfait-maeci.gc.ca/eet/new-e.asp</a>.</font></p>
<p align="CENTER"><font face="Arial">- 30 -</font></p>
<p><font face="Arial">For further information, media representatives may contact:</font></p>
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<p><font face="Arial">Sébastien Théberge</font></p>
<p><font face="Arial">Office of the Minister for International Trade</font></p>
<p><font face="Arial">(613) 992-7332</font></p>
<p><font face="Arial">Media Relations Office</font></p>
<p><font face="Arial">Department of Foreign Affairs and International
Trade</font></p>
<p><font face="Arial">(613) 995-1874</font></p>
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