Ottawa, June 24, 2005
2005-044

Archived - Goodale Highlights Productivity and Strong Canada-U.S. Relationship in New York Speech

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Minister of Finance Ralph Goodale told an audience of business leaders in New York City today that Canada will build on its current strong economic performance by boosting productivity growth.

"Canada is not satisfied to have led the G7 in both employment and economic growth since we balanced our budget in 1997," said Minister Goodale. "We will not rest on our laurels. Rather, we intend to significantly boost our productivity growth so that we can meet the challenges of an aging population and increased global competition."

In his remarks to the Canadian Association of New York, Minister Goodale outlined Canada's strong economic track record and investments that have already been made to increase productivity. He pledged that the Government will continue to make investments to drive productivity growth, while maintaining balanced budgets or better and continuing to reduce the federal debt.

Minister Goodale also spoke of Canada's close economic and social relationship with the United States. Pointing out that Canada has made significant new investments in the military and border security, the Minister said that Canada is a reliable partner of the United States in the war on terrorism.

At the same time, the Minister said that Canada and the U.S. need to work together to resolve trade disputes in areas such as softwood lumber and live cattle exports. He noted that Canada is willing to work with the U.S. to resolve these issues, but added that other options exist if negotiations fail.

"We will continue to use all of the dispute settlement mechanisms in our existing trade agreements to ensure that the rights of Canadian industries are protected," Minister Goodale stated. "Canadians are committed to open and flexible trade arrangements, but flexibility must work both ways."

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