Address by Prime Minister Jean Chrétien to a Team Canada Luncheon

February 17, 2001
Hong Kong, China

I am delighted that the Canadian Chamber of Commerce in Hong Kong is the co-host of this event. The dynamic support it provides to Canadian entrepreneurs here reflects the "can-do" spirit of Team Canada.

It is also no surprise to learn that it is the largest Chamber of Commerce outside Canada. Because coming back to Hong Kong is a lot like coming home. I don’t think that I could meet as many Canadians in any other city in Asia as I have in Hong Kong. Canadians who, on a daily basis, advertise our know-how, energy and creativity, not only in Hong Kong and China, but throughout Asia. Canadians who are an integral part of the business and social life of Hong Kong community. Just as so many people from Hong Kong enrich the national life of Canada.

As the Captain of Team Canada 2001, I am mindful that Hong Kong is in transition. And Canada has a major stake in your continued stability and prosperity.

Business is the backbone of our relationship. But it is far from the whole story. Our strong commercial ties are based on close people-to-people links that go back more than a century. On these unbreakable ties of the past, we have built a partnership to meet the challenges of the future .

As partners, we are developing the next generation of "green" technologies. As partners, we are studying innovative ways of delivering quality health care and education services. As partners, we are breaking new ground in information technology, the main circuit cable of the new global economy.

Yesterday, I had the pleasure of visiting the Canadian International School, a superb example of the combined power of our ingenuity. It is a stunning showcase for Canadian architecture and a model for the use of IT in the classroom and creative teaching and management. I would like to congratulate all of those who have made it such a success and I hope that you will continue to support the school as it continues to develop.

In 1994, Hong Kong was an important stop on the very first Team Canada. Historic changes have taken place since but Canada is reassured that the fundamental identity that has made Hong Kong a cross road for the world is the same.

It is the most the most dynamic and open business and financial centre in Asia, where business can operate in full confidence of sound institutions and transparent regulatory systems based on the rule of law. It remains a valued partner in the WTO, APEC and elsewhere. And it remains a place where people express their views openly without fear or intimidation. These are characteristics that are fundamental to the future of Hong Kong.

That said, there is also a new Hong Kong on the rise. We are witnessing a new application of the famous ability of Hong Kong to re-invent itself. In times past, it has evolved from a trading port to a manufacturer; from a textile centre to a global financial hub. And now we are seeing the transformation of Hong Kong into a global platform for IT.

Hong Kong is also dealing with issues of a truly modern society: health care, education and housing. And a healthy debate has begun on how to shape its governance within the scope of the Basic Law, on how to maintain continuity without stifling change.

Canada is watching our old friend confront these issues with great interest. And you can continue to count on our support.

The new Hong Kong has a lot to offer. Especially to small and medium-sized business. I hope that Team Canada 2001 will open the eyes of the team mates with us to the new Hong Kong and And the important role that it can play as a spring board for Canadian business success in mainland China and the rest of Asia.

For Hong Kong is a part of China. Its people, its cultural roots, the flow of trade and ideas have always made it so.

Relations will grow even closer when China joins the W-T-O. Hong Kong is in an ideal position to take fill advantage of the many new opportunities that will come with the transition. And Canada and Canadian business will be right there as your partners.

Ladies and gentlemen, Team Canada has always been about much more than cutting deals and signing contracts. It is about building relationships for the long term. Relationships of trust, understanding and mutual advantage.

Team Canada 2001 has given renewed strength to old relationships and pioneered new ones. I am proud of the quality of our team: committed and creative governments working hand in hand with the best in Canadian business. It says a lot about our resolve to achieve Canadian success. More, it says a lot about our commitment to China. About the high value we place on the relationships we are building with you.

One of my principal goals for Team Canada 2001 is to re-brand Canada in the eyes of Hong Kong. I think that we were successful in doing this with the Chief Executive when he visited Canada last year. I know that when Mr. Tung came back he told the Hong Kong business community that when they go to Canada they should do more than visit their aunts -- they should do business.

I know that the vast majority of you have visited Canada. Most of you have friends and family in Canada. Many already have business connections in Canada. But I would guess that not many of you think of Canada as one of the best places in the world to invest and do business in the new economy.

But just as we are opening Canadian eyes to the new Hong Kong, I would like to open yours to the new Canada.

Our governments – federal... provincial and territorial – have taken the steps needed to build strong economic fundamentals, with balanced budgets, lower public debt, falling taxes, low interest rates, and low inflation. Canada is expected to lead the G-7 in growth this year. Indeed... our economy is very well-positioned to weather any short term slowing of growth in the U.S.

We have a highly-skilled and educated workforce. Per capita, Canada has more people with a post-secondary education than anywhere else in the world -- including the USA. We have the highest percentage of our population online of any country in the world.

We were the first G-7 nation to connect all of its public schools and libraries to the Internet.

Canada has also established a tax framework that is pro-entrepreneurship and pro- innovation. Our average corporate tax rate for business is almost 5% lower than in the United States. And we have one of the most attractive R & D tax credit regimes in the world.

You have all heard about Silicon Valley. But Montreal is a comparable centre for aerospace. It represents 27% of the global corporate aircraft market, 60% of the market for landing gear and 70% of the market for commercial flight simulators.

Our Toronto to Kitchener/Waterloo corridor is home to more than 2,000 IT firms, employing more than 100,000 people.

Toronto is one of the largest life-science centres in North America.

Vancouver has a cluster of more than 7,000 hi-tech firms. Over the past 10 years, the market capitalization of the largest technology companies in British Columbia has grown from $1 billion to more than $70 billion.

Ottawa is not just our national capital, it is the capital of Silicon Valley North. It is home to more than 1,000 advanced technology firms.

In Atlantic Canada, the city of Fredericton, alone, has over 180 IT companies that serve customers around the world.

Ladies and gentlemen this, and so much more, is the new Canada . A Canada that, like the new Hong Kong, is on the move. A true Team Canada that is squarely committed to marshalling our resources and vitality to become the most innovative nation in the world.

Canada and Hong Kong are an ideal fit as partners. We need to re-double our efforts to take full advantage of our combined strengths. As the Captain of Team Canada 2001, I invite all of you, with your strong Canadian connections, to lead the way.

We are in an era of high speed change, when you have to stay ahead of the curve to prosper. Hong Kong has well-earned a reputation as a fast mover. Canada is energized and focussed.

The time is now to take on the future -- together.

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