MEET DAN BARISH
Dan can help you prepare for a secure retirement
with investments in such products as The BEST of
AMERICA® variable annuities.
The BEST of AMERICA allows you to choose
from among 10 of America's top names in money
management, including:
Dan Barish
Vice President
Fidelity
investments®
1 3 Nationwide
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reyfus
Nationwide Advisory Services, Inc.
The Dreyfus Corporation
Mellon Equity Associates
Fidelity Management & Reasearch Company
TCI Portfolios,
Investors Research Corporation
Dan and his associates at Comerica Securities are available to meet
with you, at your convenience. For more information on The BEST of
AMERICA variable annuities, including charges and expenses, please
obtain a prospectus by calling Dan at (810) 948-2902. Please read it
carefully before you invest or send money.
Before investing, please understand that
annuities are not insured by the FDIC,
NCUSIF, or any other government agency, are not deposits or obligation of, or
guaranteed by Comerica Bank or any of its affiliates, and involve risk, including
possible loss of principal.
NOT FDIC
INSURED
May lose value
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Insurance Company, Columbus, Ohio. Variable annuities are offered by Comerica
Insurance Services, Inc., an insurance agency and subsidiary of Comerica Bank, and are
made available through Comerica Securities, a broker-dealer member NASD/SIPC and
an affiliate of Comerica Bank.
Nationwide® and The BEST of AMERICA® are federal service marks of Nationwide
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THE JEVVISH NEWS
Bridging The Divide
Canada's International Trade Minister Art Eggleton
talks about NAFTA, his meeting with the Palestinian
Authority and the future of business ties with Israel.
DAVID HARRIS SPECIAL TO THE JEWISH NEWS
xperts agree that bilater-
al trade between Canada
and Israel has been ane-
mic at best, severely mal-
nourished at worst. But the
Canada-Israel Free Trade
Agreement, which was signed
last fall and implemented in
January, is expected to provide
the necessary nourishment to
expand trade beyond the 1995
volume of $477 million.
In an attempt to get the trade-
ball rolling, Canadian Minister
for International Trade Art
Eggleton visited Israel along
with more than 50 leading busi-
nesspeople.
Throughout their stay, the
Canadian industrialists met
with local businesspeople and
politicians in an attempt to find
new ways to increase trade
while expanding business be-
yond the typical imports and ex-
ports. Israel traditionally buys
Canadian machinery, paper,
aluminum and cereals and sells
Canada diamonds and electri-
cal machinery.
In addition to increasing
Canadian trade with Israel and
the Palestinian Authority, Mr.
Eggleton's agenda is otherwise
dominated by North American
commerce and G7 trade issues.
How successful is the
North American Free Trade
Agreement (NAFTA) proving
to be?
Very successful. Canada's
trade relationship with the Unit-
ed States has doubled in the last
decade. Mexico is a more recent
partner in terms of free trade,
joining NAFTA in 1994, but we
had a similar free-trade agree-
ment with the U.S. dating back
to 1988.
Let me give you the context.
Canada is a trading nation.
More than 40 percent of our
economy involves international
trade. We're the most trade-de-
pendent country of the G7.
That's presumably be-
cause you have such a small
population.
Yes. We have a high standard
of living, which can only be
maintained by exporting be-
cause we only have a market of
30 million people.
Our per capita trade is actu-
ally twice as much as America's
and three times as much as
Japan's. Within that, 80 percent
of our trade is with the U.S., at
around the $400 billion mark.
That makes it the largest
bilateral trade in the world.
- It's more than a $1 billion a
day. While we paid a price in the c \'
initial adjustment, we are now
seeing the benefits of the agree-
ment with the U.S.
Now with Mexico, it is a
smaller trade relationship, but
it is the biggest one beyond the
U.S. in the Americas. But it is a
relationship that is growing,
even with the peso crisis.
How do you cope with the
huge geographical area that
NAFTA covers?
Well, the three countries are
adjoining, and a lot of this traf-
fic goes by truck., so highway sys-
tems are important. We are
presently exploring, with the
U.S. and Mexico, a NAFTA
highway system. These would
be roads that may have reserved
lanes for trucks in some areas _ y
and special electronic means for
measuring trucks. And the ship-
ping would be streamlined to fa-
cilitate greater efficiency.
Has the inclusion of Mex-
ico been, overall, a positive
or negative move?
I think for all three countries
. it's been positive. I believe that
in Canada there's a stronger lev-
el of support for NAFTA than in
the other two countries. It is
helping to take Canada more
into the hemisphere. Canada
used to look to the south, to the
U.S., but not beyond that. But
now we're looking at the full
hemisphere.
In 1990 we became a member
of the Organization of American
States for the first time, for ex-
ample. Last year we signed a
free-trade agreement with Chile, `-`
who we're looking to bring into
NAFTA. At the same time it be-
comes a stepping stone to a larg-
er agreement with the 33
economies of north,. south, cen-
tral America and the Caribbean
— the Free Trade Area of the
Americas — where we hope to
have a free-trade agreement in
place by 2005.
On the assumption that
there will be regional peace
in the Middle East, can you
envision similar develop-
ments here?
There could and it would be
very desirable, but we all know
the political difficulties, so it's
not something that's around the
corner. We see some good signs.
Canada has been a full par-
ticipant at the Middle East-
North Africa economic summits.
Canadian companies are com-
ing to those summits in growing