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PRIME MINISTER ANNOUNCES CANADA-ITALY AGREEMENT
ON TRADE
March 26, 2001
Ottawa, Ontario
Prime Minister Jean Chrétien today announced the signing of a Canada-Italy
memorandum of understanding (MOU) on trade cooperation, investment and small and
medium enterprises. The MOU, designed to increase trade and investment and to
expand cooperation between small businesses in both countries, was signed on the
occasion of Italian Prime Minister Giuliano Amato’s visit to Ottawa.
"This agreement forges an important new link in the already strong and
dynamic relationship between Canada and Italy," said the Prime Minister.
"It showcases the small business sector’s contribution to both of our
economies and recognizes its potential to promote increased trade between our
two countries."
The MOU was signed by International Trade Minister Pierre Pettigrew and the
chargé d’affaires of the Italian embassy, Mr Mario Boffo.
During his visit to Italy in May 1998, Prime Minister Chrétien and the
Italian Prime Minister signed a Declaration of a Strengthened Partnership, with
the objective of expanding economic and trading links between the two countries.
Trade between Canada and Italy totalled $5.4 billion in
2000. Italy is the 10th largest export market for Canadian products and Canada’s
9th largest trading partner.
Prime Minister Amato is visiting Ottawa as part of his consultations as the
current Chair of the G-8.
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PMO Press Office: (613) 957-5555
Backgrounder
Memorandum of Understanding on Trade and Investment Cooperation and Small and
Medium Enterprises
The MOU signed by Canada and the Italian Republic aims to further develop the
economic ties between the two countries. The MOU will facilitate international
business development and promote investment opportunities and joint ventures
between SMEs in a number of key sectors such as Information Techology; health;
automotive parts; agri-food and furniture.
The MOU stems from the Prime Minister’s visit to Italy in 1998 and the
signing of a Declaration of Strengthened Partnership which committed the two
countries to further develop their economic partnership. In 1999, Italian Trade
Minister Fassino made a cross-Canada visit in order to learn more about Canada’s
international trade development approach, particularly Team Canada.
The Department of Foreign Affairs and International Trade in cooperation with
the Italian Embassy subsequently organized two Canada-Italy forums and
identified the steps to be followed to intensify those economic ties.
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