February 21, 2002
Munich, Germany

It is my great pleasure to introduce Munich to Team Canada 2002.

We have come to the powerhouse of German prosperity: Bavaria. A state which is on the move and in transition. A place rich in history and culture but also of manufacturing and high tech. A place of "laptops and lederhosen." Where the German trademark for commercial excellence and innovation is on full display.

Under your leadership Minister-President the people of Bavaria have forged a unique partnership with the shared goal of making Bavaria and Germany a leader in the new economy. In this, Canada and Bavaria have much in common.

Team Canada 2002 is a powerhouse. And I am honoured to be Captain.

I am joined by provincial and territorial leaders. And by more than 200 of our most creative entrepreneurs.

We have come because we want to step on the gas in a trade and investment relationship that is already running like a well tuned BMW. To explore and tap into opportunities made possible by the position of Germany as an anchor of the European Union. And of Canada as the gateway to a NAFTA market of more than 400 million people.

Of course, the relationship between Canada and Germany is about much more than business. It is also a friendship of shared values: our commitment to freedom, human rights and social justice; our belief in progressive governance; that prosperity and opportunity must be shared.

Our global partnership also encompasses a resolute commitment to promoting prosperity and social progress through liberalized trade. Our common support for creating a fair and level playing field through a new WTO round is the most recent proof of this.

Canada and Germany have built a strong partnership in mutual prosperity and opportunity. Germany is our fourth largest trade and investment partner. Our bilateral trade reached $11 billion dollars in 2000.

Canadian firms have invested over $4 billion in Germany. Germany is now Canada's third largest market for cultural products. One third of all Canadian book exports are traded at the Frankfurt International Book Fair.

Some six hundred German firms have invested in Canada. Some of the largest German investors in Canada come from here in southern Germany. In fact, Daimler Chrysler is the single largest international investor in Canada.

And I am delighted to see that, from the automotive sector to information technology, some of the most dynamic Canadian firms have chosen southern Germany for their European base of operations.

Not to sound greedy, ladies and gentlemen, but we can do better.

That is why Team Canada 2002 is here. To raise the profile of Canada in Bavaria as a leading-edge, technology-driven economy. To display the ample advantages that come with doing business with Canada.

Canada is a proven market for German investors. A recent survey done by the Canadian-German Chamber of Industry and Commerce found that 70 percent of its members are planning new investments in Canada.

KPMG recently released a study naming Canada the most cost-effective country in which to do business.

The Canadian advantage is also about how we are transforming Canada into a hot bed of the new economy. Leading high-tech clusters can be found right across the country. They are well represented on Team Canada 2002: agri-food from Saskatoon, multimedia from Halifax, fuel cells from Vancouver, biotechnology from Montreal and Toronto, photonics from Ottawa.

The Canadian advantage is underpinned by the fundamental strength and dynamism of our economy. Which is extremely well-positioned to weather the current global economic slowdown and to prosper in the recovery that will follow.

We have tabled five straight surplus budgets. And we are the only G8 nation projected to weather the current slowdown without falling into deficit. Our debt-to-GDP ratio has fallen faster than any other major industrialized nation. Inflation remains low and stable. Interest rates are at a 40-year low.

We have implemented the largest tax cut in Canadian history, under which corporate tax rates will fall about five percentage points below average U.S. rates. A strong incentive for new investment in Canada. We have the most generous R&D tax incentives in the world.

In the post September 11th world, I believe that it is exceptionally important that we not only take the security measures necessary to prevent bad things from happening, but also that we as governments do what is necessary to make good things happen. To promote the timeless values of civilized peoples, to create confidence and hope for young people in the future, to promote excellence.

Yes we concentrate, as we must, on the economy. Yes, we do a great deal, as we must, to encourage science, research and development and innovation. But now, more than ever, more attention should be focussed on the humanities and the social sciences, on the arts and culture. Because life and the progress of society are about more than just material well being and physical security.

I am very proud that yesterday the Canadian government announced the creation of new doctoral fellowships to be granted every year in the humanities and social sciences. A kind of Canadian Rhodes Scholarship for the very best young doctoral students in Canada and the world to study and contribute their talents to the social and moral issues of a changing world.

And we are naming these scholarships after Pierre Elliott Trudeau. A man who symbolized, in Canada and around the world, youth, confidence, excellence, and internationalism.

And we will also continue to make strategic investments that contribute to building our long term economic strength. In building an advanced infrastructure of knowledge and skills for our people. To ensure that Canada is the place where new discoveries and processes get to market first, and fastest.

Ladies and gentlemen, I am delighted that Team Canada 2002 has come to Munich and to Germany. Our message is simple.

We want you to think of Canada as a a prime place to invest and do business. With an investment and business climate that is among the best in the world.

We want you to think of the Maple Leaf as a 21st century trademark for excellence.

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