Team Canada 1997 Mission to promote trade and investment partnerships with Asia

Prime Minister Jean Chrétien will lead the third Team Canada mission from January 8 to 20 to generate new business for Canadian companies in South Korea, the Philippines and Thailand. The mission will include the Prime Minister, provincial Premiers and territorial leaders, as well as a delegation of more than 400 business people, heads of educational institutions and municipalities, and young entrepreneurs.

The Team Canada 1997 trade mission will kick off Canada's Year of Asia Pacific in 1997, which is aimed at building on Canada's strong ties with the Asia-Pacific region.

"I am pleased to join my fellow first ministers on this Team Canada mission," the Prime Minister stated. "These missions are helping us to increase exports and create jobs for Canadians. They also demonstrate what we can accomplish when we work together."

The mission will focus on eight important Canadian sectors: agri-food, financial services, education and culture, environment, transportation, energy and natural resources, telecommunications and information technology, and building products and construction.

The Prime Minister and Premiers will engage in wide-ranging talks on trade and investment with many of the region's political and business leaders. The Prime Minister will also discuss ways of expanding political and economic relations with the region, including the evolution of regional institutions such as the Asia Pacific Economic Cooperation (APEC) forum and the Association of South East Asian Nations (ASEAN), of which Canada is a dialogue partner.

The members of the Canadian business delegation are expected to complete and sign numerous contracts and agreements.

"Canadian firms excel in the building of sound and sustainable economic infrastructures. They specialize in providing goods and services that help economies grow," the Prime Minister added. "These are areas of terrific growth in Asia. Sharing this know-how will ultimately benefit both ourselves and our Asia-Pacific partners."

The 1997 Team Canada mission will include for the first time the participation of young entrepreneurs who are active in business and seeking new opportunities in Asia. They will attend special business activities in each of the visited countries, in addition to the regular business events.

Two-way trade of goods and services between Canada and the three countries combined totalled $8.3 billion in 1995, and the potential for more business with each country is considerable, since they are among the fastest growing economies in the Asia-Pacific region.

Prime Minister Chrétien has led the two previous Team Canada trade missions: to China in November 1994 and to India, Pakistan, Indonesia and Malaysia in January 1996, as well as a trade mission to Chile, Argentina and Brazil in January 1995. These have been successful in promoting exports and creating jobs for Canadians. They have led to an estimated $20 billion in business deals and have helped Canadian businesses gain access to new markets.