Notes for an Address To a Canada -Egypt Business Dinner

April 12, 2000
Cairo

Ladies and gentlemen.

A new century has just begun. A new millennium is upon us. And the world looks on as the people of the Middle East, people shaped by the wisdom and conflicts of many millennia, stand poised on the brink of a new era.

Of peace. Of Salaam.

Like the people of Egypt, the promise of peace has lifted the spirits of Canadians. We do not underestimate the obstacles that still lie across the road ahead. Nor do we doubt the collective wisdom and courage that will be required before the region can enjoy the blessings of a just, lasting and comprehensive peace. The leadership of Egypt, and of President Mubarak, will remain essential to achieving the outcome that we all want.

I have undertaken this, the most extensive tour of the Middle East ever by a Canadian Prime Minister, to reaffirm our steadfast commitment to the peace process. But I have also come to talk about what must come after a peace agreement. After the signing ceremonies are over. After the diplomats are gone and CNN goes home.

I speak of showing the people of the region the profits from their investment in peace. Of building prosperity. Of extending the hand of trust and reconciliation.

It has been said that as Egypt goes so goes the Middle East. With her long tradition of regional leadership, and an economy that is regaining strength, Egypt will be a linchpin in forging long term reconciliation and prosperity throughout the Middle East.

Ladies and gentlemen, Canada is ready, as a good partner, to help Egypt achieve her full potential.

Our nations have long enjoyed warm and friendly relations. In tandem with the promise of peace, there is a new dynamism emerging in our partnership. A dynamism symbolized by the construction of the new Canadian Embassy here in Cairo.

An important catalyst for this new spirit has been the programme of economic reforms launched by President Mubarak. Deregulation and privatization have revived the commercial and entrepreneurial traditions of Egypt. The merchants of Egypt, renowned since ancient times, are clearly getting ready to take on the global economy.

I congratulate the President for his vision in embarking on these reforms. Canadians know from our own experience that such changes are not always easy or smooth . But we also know that the rewards are worth the effort. When our government took office in 1993, we, too, faced serious economic problems. Thanks to the support and discipline of Canadians, we have overcome them.

In seven years, we have gone from the worst recession since the 1930s. To the longest period of economic expansion since the 1960s. Canada has regained her reputation in the world as a great place to do business.

In the same way, the Canadian business community has taken notice of the reform effort underway here. And is expressing new interest and enthusiasm about doing business in Egypt. Canadian firms are now present in Egypt from Alexandria to the southern desert of East Ouwaynat.

Trade between our two countries is clearly on the upswing. Canadian exports to Egypt have grown nearly 60% since 1994. While the value of Egyptian exports to Canada has more than doubled in that time period. Our trade is not only growing, it is becoming more diverse. Moving beyond the traditional supply of newsprint, lumber and food. To encompass cutting-edge technology.

For example, a Canadian firm provided the software that will allow the Cairo and Alexandria Stock Exchanges to computerize their trading operations. And another installed the first portable communication and air traffic control towers in Egypt.

In the last year alone...over a dozen Canadian companies have established regional offices here. In hotel management. Oil and gas. And engineering services. One firm will be bringing safe water to hundreds of thousands of Egyptians outside Cairo for years to come.

And there are a number of Canadian companies here today. Promoting partnerships and strategic alliances that will benefit both of our economies.

As governments, we must continue to build a framework that encourages trade and investment. In 1996, for example, we concluded a Foreign Investment Protection Agreement with Egypt.

Canada is pursuing a closer partnership with Egypt on the environment. To that end, a new Agreement on Environmental Technology Cooperation was signed during my visit. It will establish jointly-funded environmental projects in the areas of clean energy, climate change and waste management.

Canada also applauds Egypt’s work in fostering the entrepreneurial energy of her people . Here, too, we are sharing ideas and experiences. I am pleased that this morning we signed an agreement to encourage the growth of small and medium-sized businesses.

Entrepreneurship is the energy of people. And people are the greatest resource of Egypt. As you give more attention to the importance of education, Canada can make an important contribution. We are very proud that three Egyptian Cabinet Ministers are graduates of McGill University. And Canadian colleges and universities are cooperating with Egyptian schools and the Ministry of Education to offer more educational opportunities to more Egyptians.

Our business partnership is clearly growing. But we must work harder. I am therefore pleased to announce that our Minister of International Trade will lead a business delegation to Egypt in the fall. And I invite your Trade Minister to do the same in Canada .

Ladies and gentlemen, the Middle East needs a strong, prosperous Egypt. And Egypt needs a Middle East where prosperity is shared. And trade is the key.

Egypt clearly recognizes this reality. And has already shown leadership by offering to host the resumption of the Middle East North Africa Economic Summit Process. Under this process, business leaders throughout the region and the world, including Canada, will come to Cairo to build the foundations of a new prosperity. From one end of the region to the other. Canada applauds the work that Egypt has done to put this issue back on the regional agenda.

Canada is excited about the economic potential of Egypt and the Middle East. And the opportunities here. Enduring peace will require new prosperity. And new prosperity will require enduring stability and peace.

Canada stands ready to support Egypt in these efforts. We have never been indifferent to the problems that have plagued the Middle East.

Egypt will remember that our role in regional peacekeeping began with the establishment of the United Nations Emergency Force in 1956. For which my friend and mentor Lester Pearson won the Nobel Peace Prize. Since then, Canadian peacekeepers have been on continuous duty in the region. Canada is prepared to keep them in the region for as long as there is a job worth doing.

The wise counsel and support of Egypt have also been essential to Canada in our leadership of the Refugee Working Group. And this history of teamwork in the region is now becoming a global partnership. With our work together at the WTO and on peacekeeping missions in Central Africa and elsewhere.

Ladies and gentlemen, as Canada and Egypt enter this new century, we can look back with pride on what we have accomplished together. On our time-tested partnership in the search for peace and prosperity in the Middle East.

As we move forward towards peace, we have, within our grasp, the opportunity and the means to take our relationship to a new level. To lay the foundation of a future of unprecedented prosperity. In Egypt and beyond. A future where anything is possible.

If the people of the Middle East muster the courage and vision to go the last few miles for peace.

The best is yet to come!

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