To a Business Luncheon

I have had a very productive meeting with the Taoiseach. I have also met with President McAleese. The Taoiseach has continually demonstrated a close attachment to Canada, which we appreciate. President McAleese, last autumn, paid an extensive visit to Canada, travelling to six provinces and speaking at approximately 40 events. Everywhere, people welcomed her with great of enthusiasm.

This morning I laid a stone at the Famine Memorial site on the bank of the Liffey River. It is important that we remember one of history's deepest tragedies. Not only did so many suffer at the time of the Famine, but the migration that resulted sapped Ireland of its greatest resource - its people.

Canada was a destination for many tens of thousands of Irish immigrants at that time. As a way of remembering and paying tribute to our shared past, Canada has been developing a national heritage park on Grosse Ile, the way station for so many Irish on their journey to North America. Many died and were buried there. Those who survived helped build and sustain a young nation.

It was one of your countrymen, Thomas D'Arcy McGee, who came to Canada in the last century with a vision. A vision of one nation, stretching from sea to sea, made up of many peoples of many different beliefs and backgrounds. But with one hope. To live together. In peace, in respect and in prosperity.

His vision was Canada. One evening, returning from the House of Commons, having just given a speech promoting this vision, he was assassinated. This Father of Confederation gave his life to build a land of harmony. And his nineteenth century dream has become a twentieth century reality.

A reality in which the sons and daughters of Ireland have played a central part. In industry, in politics, in the professions, in every walk of Canadian life. These Canadians of Irish descent, along with other Canadians with roots in every corner of the world, have helped create a dynamic, confident, outward looking country.

A country that - more than ever - is fuelled by an equally dynamic and outward looking economy. In fact, no other major economy in the world is as trade-oriented as Canada. Over 40 percent of our gross domestic product depends on export trade. More than any other major industrialized nation!

That's why Canada is so aggressive in its push for liberalized trade - with fair rules - around the world. We know the key to prosperity around the world is tearing down walls of protectionism. The Canadian success story is proof of that. And so is the new Irish success story.

That's why Canada is also so aggressive in seeking new markets - and strengthening established markets - in every corner of the world. Working together with business and government from across our country, in our Team Canada missions, and on trade missions like this one in Ireland, we are creating a new Canadian presence world-wide. One that means new jobs and new opportunities for Canadians - in every part of Canada.

That is why we are working hard to increase our trading relations with the European Union. In fact, while Ireland was in the presidency a few years ago, we signed a Canada-EU Action Plan that improved cooperation in a wide number of areas: from the application of competition laws, to customs regulations, to working together in science and technology.

I have long said that my goal was to see a link between NAFTA and the EU - a free trade bridge across the Atlantic. That day may not yet be at hand, but we in Canada are pushing for it. We are currently negotiating a free trade agreement with the EFTA countries – Norway, Iceland, Switzerland, and Liechtenstein – which we hope will conclude in the fall of 1999. This will be the first ever transatlantic free trade agreement. And, I hope, the beginning of a trend!

And in the centre of the action will be the new European tiger: Ireland!

Trade ties between Canada and Ireland are stronger today than ever before. In fact, two way trade has doubled in the just three years - to 750 million Irish pounds, or $1.5 Billion. Canada is a good business partner for Ireland. We are the second largest source of foreign investment in Ireland. In ten years, Canadian investment here has increased 600%. Brown Thomas, Corel, CanWest, Celestica, CIBC Wood Gundy, Four Seasons Hotels, Jetform, Nortel Networks, Saturn Solutions, Canada Life Insurance, the Bank of Montreal, Royal Reinsurance, Scotia Bank, and Sun Life are just a few of the Canadian firms with operations here.

And the men and women who are part of our business delegation are here to build on those links and create new ones. They are men and women with the kind of know-how and skill that is making Canada a growth leader in the G-7 once again this year. Their products and know how, their track records and skills, are a match for any in the world. Talk to them. Get to know them. And discover, what they - and we - have to offer.

Many members of the trade delegation have been attracted here by the Irish market itself. Others have been attracted by the possibility of working with Irish business people in tackling European or even world markets. Certainly, for a number of Canadian companies, Ireland is seen as the best gateway to working inside the European Single Market.

One strong message I want to give Irish business today is that the same is true for Canada: our country represents a gateway to the NAFTA market. I believe the best possible gateway for Irish business. Not only in terms of costs and competitiveness, or access or transportation routes, but in other important, less tangible ways. Like our focus on quality of life and safe, liveable communities, and our investment in our public health and education systems.

All these factors are also very important in Ireland. They are shared priorities that make Canada even more of a natural for Irish business as a point of entry into NAFTA. In fact, many business people here in Ireland have recognized that already. Irish investment in Canada has grown rapidly over the past three years. This is a trend we want to encourage to continue.

We are both countries - and economies - on the rise. With new opportunity and new prosperity. And, frankly, with a lot in common. That's why I am pleased to be accompanied by such an impressive business delegation.

And that's why this mission has focussed on sectors where both Canada and Ireland have expertise, and where Canadian and Irish companies can build on their complementary competencies and win together, in the international marketplace.

Strategic alliances make sense. Potential benefits include access to new markets - and credibility within these markets - additional sources of capital, leading edge technology, management expertise, research and development capabilities, and distribution networks.

These benefits can be achieved much more quickly and at a lower capital investment than would be required by a company working alone.

The impressive turn-out here today is a signal – a strong signal – for the future. Canada and Ireland have much in common and even more to offer one another. We must build on the existing ties of history, culture, and business – and develop new ones.

I would like to ask all of you to please stand, and to raise your glasses to the health and prosperity of the Irish people!