Canadian Business Leaders Meet with Japanese Prime Minister Koizumi, Urge Closer Bilateral Ties

June 28, 2006

Canadian business leaders today congratulated Japanese Prime Minister Junichiro Koizumi for the economic reforms initiated under his leadership and encouraged the governments of both countries to continue their efforts to forge stronger bilateral ties.

“In tackling head-on Japan’s economic problems and laying the foundations for sustained growth, Prime Minister Koizumi has demonstrated both resolve and great vision,” said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE). Earlier, he and other CCCE representatives met privately with Prime Minister Koizumi and presented him with a memorandum outlining potential areas of closer cooperation between Canada and Japan.

As Canada’s private sector leader in promoting trade liberalization globally, regionally and bilaterally, the CCCE is strongly committed to pursuing deeper and more effective economic linkages between Canada and Japan. In particular, the Council is proud to have played a prominent private sector role in helping to launch the Canada-Japan Economic Framework negotiations in January 2005, which included terms of reference for a Joint Study on future trade and investment liberalization and promotion. (A chronology of CCCE initiatives on the Canada-Japan relationship is available.)

Earlier this month, in its submission to the Joint Study consultations, the CCCE recommended that Canada pursue a comprehensive trade, investment and economic initiative with Japan, the world’s second-largest economy. Such an initiative would go beyond the elimination of tariff and non-tariff barriers to address rules of origin, customs procedures, dispute settlement issues, standards issues, labour mobility restraints, domestic infrastructure issues, currency issues, transparency and mutual recognition of regulations, and liberalization in services.

During today’s meeting with Prime Minister Koizumi in Ottawa, the CCCE delegation noted that Japan’s economy has recently turned the corner after a long and painful period of adjustment, reform and refocus. “As the Japanese economy expands, it makes sense that Japan would look to strong and good friends such as Canada to build on existing areas of cooperation and seize potential new opportunities,” Mr. d’Aquino said.

He added that Canadian business leaders see Japan as an ideal partner. “There is much that we can do together. But the greatest threat to our potential lies in complacency or neglect. All the more reason, then, to commit ourselves to a fresh and vigorous pursuit of outcomes that will serve the needs and aspirations of Canadians and Japanese alike.”

Founded in 1976, the CCCE is strongly committed to enhancing Canada’s role and influence in the world, and has been Canada’s private sector leader in the promotion of international trade and investment liberalization. The Council has a history spanning three decades of close and productive involvement with the leaders of Japan’s private sector.

Member CEOs of the Council lead companies that collectively administer $3.2 trillion in assets, have annual revenues of more than $750 billion, and are responsible for the vast majority of Canada’s exports, investment, research and development, and training.

In addition to Mr. d’Aquino, the members of the CCCE’s Executive Committee are: Chairman Richard L. George, President and Chief Executive Officer of Suncor Energy Inc.; Honorary Chairman A. Charles Baillie; and Vice-Chairmen Dominic D’Alessandro, Paul Desmarais, Jr., Jacques Lamarre, Gordon M. Nixon and Hartley T. Richardson, the chief executives respectively of Manulife Financial, Power Corporation of Canada, SNC-Lavalin Group Inc., Royal Bank of Canada and James Richardson & Sons, Limited.