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Copyright 1997, Nationwide Life Insurance Company. * * TheBEgr * OF AMERICA® Comencasecurities Member NASD/SIPC TOYOTA LINCOLN mazDa Mercury e "Superstar" Used Cars HYLArlDRI "EQUITY TRADE" WE PAY OFF YOUR TRADE REGARDLESS OF HOW MUCH YOU OWE! WE GUARANTEE... AUTOMOT1E GROGP i! A F-A-R-R BETTER DEAL! l~ lll is 'At'` \ " TRL SUPBYSTAI DEALER BigNer We Get... The Better Deals You Get!" CALI, 1-800-N1 E 1,-FA R R 24 Hour Information (-('uter Est. in 1975 .... : kW itte: Get Results... Advertise in our new Entertainment Section! .1' t ti The Sales Departnient (810)) 5 s 4-7123 Ext. 209 DETROIT) 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