Business Leaders Host King Abdullah II of Jordan, Welcome Efforts to Build Closer Bilateral Ties

July 13, 2007

Canada’s business leaders today congratulated the governments of Canada and Jordan for their commitment to forging closer bilateral commercial ties, an effort that should both improve prospects for economic growth in the Middle Eastern nation and offer significant investment opportunities for Canadian companies.

“Under the leadership of His Majesty King Abdullah II, Jordan has made impressive strides in modernizing its economy, opening its markets and promoting the well-being of its people,” said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE), which represents 150 leading Canadian companies and entrepreneurs. “As Canadians and as business leaders, we strongly endorse this agenda and look forward to enhanced economic relations between our two countries. We also endorse His Majesty’s tireless efforts to promote peace, reconciliation and economic development in the region.”

Mr. d’Aquino was speaking in advance of a special luncheon and business leaders’ roundtable in the presence of King Abdullah II, hosted by the CCCE in Ottawa. In addition to the King, key Jordanian participants in the roundtable will include: His Royal Highness Prince Ali bin Al Hussein; His Excellency Dr. Ziad Fariz, Deputy Prime Minister and Minister of Finance; His Excellency Mr. Abdul Ilah Al Khatib, Minister of Foreign Affairs; His Excellency Mr. Salem Khaza’aleh, Minister of Industry and Trade; and His Excellency Mr. Nabil Barto, Ambassador to Canada.

Canadian companies represented at the roundtable will include: Royal Bank of Canada; Bombardier Inc.; CAE Inc.; CGI Group Inc.; Harvard Developments Inc. – A Hill Company; SNC-Lavalin Group Inc.; Aldershot Resources Ltd; Borden Ladner Gervais LLP; Magna International Inc.; PotashCorp; Homeland Uranium Inc.; Atomic Energy of Canada Limited; and Canada Mortgage and Housing Corporation.

Although current levels of Canada-Jordan bilateral trade and investment are modest, the expanding Jordanian economy and the King’s commitment to privatization of key state-owned companies creates opportunities for investment in a variety of sectors, including manufacturing, mining, telecommunications and transportation.

The CCCE, founded in 1976, is Canada’s private sector leader in the promotion of international trade and investment liberalization.  The CCCE is composed of 150 chief executive officers of major enterprises and leading entrepreneurs.  Member companies collectively administer $3.2 trillion in assets, have annual revenues of more than $750 billion and account for a significant majority of Canada’s private sector investment, exports, training and research and development.

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