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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"></span></span><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">October 26, 2004 <i>(3:00 p.m. EDT)</i> No. 123</span></span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 14pt"><span style="font-weight: bold">PETERSON RECOGNIZES PROGRESS BY EDC<br>
ON ENVIRONMENTAL REVIEW PRACTICES</span></span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">International Trade Minister Jim Peterson today welcomed the findings of the second
audit report from the Office of the Auditor General on the environmental review
practices of Export Development Canada (EDC). </span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">“The new audit report gives EDC excellent marks on both the design and the
implementation of its environmental review procedures, while also recommending
additional steps to increase transparency,” said Mr. Peterson.</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">In 2001, the Auditor General released a first audit report that expressed concern with
EDC’s disclosure practices and with the gaps that existed between the design and
implementation of EDC’s Environmental Review Framework. At the time, the
International Trade Minister requested that the Auditor General undertake another audit
after two years. EDC has since established a world-class environmental team and
adopted a new framework to review its projects. The Auditor General’s latest report is
the response to that request.</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">The review also found that EDC’s current environmental review policies are consistent
with those of other export credit agencies.</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">“EDC has refined its framework to keep Canadian exporters competitive in world
markets while reflecting Canadian values on the environment,” Minister Peterson
added.</span></span></p>
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<p style="text-align: center"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">- 30 -</span></span></p>
<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">For further information, media representatives may contact:</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Jacqueline LaRocque<br>
Director of Communications<br>
Office of the Minister of International Trade<br>
(613) 992-7332</span></span></p>
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<p><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt">Media Relations Office<br>
Foreign Affairs Canada and
International Trade Canada<br>
(613) 995-1874<br>
</span></span><a href="https://bac-lac.wayback.archive-it.org/web/20071207011612/http://www.international.gc.ca/"><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #0000ff"><span style="text-decoration: underline">http://www.international.gc.ca</span></span></span></span></a><span style="font-family: 'Arial', sans-serif"><span style="font-size: 12pt"><span style="color: #000000"></span></span></span></p>
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