MAILBOX

Cook clarifies Free Trade

Dear Editor:

I was elected to Parliament by
the people of North Vancouver in
part because they recognized the
necessity of having a Free Trade
Agreement with the United States.
Now, scarcely two years into the
agreement, the FTA is coming
under attack from many parties,
including your very own Noel
Wright.

Mr. Wright, in recent columns,
has suggested that the FTA is to
blame for our current economic
problems. In fact, there are many
influences on the Canadian
economy and the FTA is but one
of several significant global events
which have had an impact on our
economy.

Th: FTA is an agreement
designed to benefit Canada in the
long run and should not be judged
solely on the economic perfor-
mance of the country over the
past two years.

Even so, some of the benefits of
the FTA are already being felt.
During the recession in the early
1980s there were 264,000 jobs lost
in the first three quarters, vezsus
154,000 job losses over the same
period of the current one.
Unemployment rates in British
Columbia rose to 13.8% during

the early 1980s, as compared to
10.2% today. Interest rates during
the current recession peaked at
just over 14%, as opposed to in
excess of 21% during the ‘81-82
recession.

In part, this recession has been
less severe because of the con-
fidence that foreign investors have
shown in the Canadian economy
asaresult of the FTA.

Despite the current recession,
foreign direct’ investment in
Canada from Japan, the United
Kinedom, Hong Kong,
Switzerland, France and Germany
has increased significantly faster
than U.S. investment.

Financiers from these countries
are investing in Canada because
the FTA will guarantee them
unrestricted access to the U.S.
market for their Canadian made
products, a privilege not always
available to goods made in other
countries. Foreign investment in
Canada means jobs for Canadian
workers.

Critics of the FTA hold tt
responsible for every job that has
been lost since its implementation
despite the fact that many of these
losses have come in sectors unaf-
fected by the FTA, such as the
automotive, brewing and trans-

portation industries. What these
critics fail to note is that between
December of 1988 and November
1990 there was a net increase (jobs
created less jobs lost} of 161,000
jobs in Canada.

A study done by the indepen-
dent Canada West foundation
found that Canada has, during the
first 22 months of the FTA, ex-
panded its exports of end-products
by a net increase of $4 billion,
while imports from the U.S. have
declined by $600 million. The
report also indicates that Canada
has made its gains in high-tech
and capital intensive fields rather
than selling off its resources.
These are the same ‘‘value added”’
fields that Mr. Wright has
described as ‘‘the only path to
prosperity."*

lt is important that these facts
are on the table as we prepare to
participate in the North American
Free Trade talks with the U.S.
and Mexico. Trade is going
global, and Canada cannot afford
to sit by as an idle spectator while
the rest of the world cuts trade
agreements that are beneficial to
everyone involved.

Chuck Cook, MP
North Vancouver

Heartfelt thanks to LGH staff

Dear Editor:

A few weeks ago I was unfor-
tunate (or fortunate) enough to
find myself confined to the
shadowy halls of Lions Gate
Hospital.

May I say from Emergency to

Get Cooking i"

° ‘CHILLIWACK: ‘*ABBOTSFORD

45660 tuexakisct- Wa

° °. NEW:WEST

246 Uchumbias StS

13890 104th Ave. BY:
p 2099 Hastings.

. 2400 3233 Immat, Stl)

the second-floor Cardiac Arrest
and again to pent-house Medical,
the care and attention shown to
me by doctors and nurses alike
was way beyond the call of duty,
and to those dedicated people,
through your paper, I would just
like to say a heartfelt thank you

oon oO
& Chilliwack:

e LANGLEY:

13708 Langtey ees

GUITLAM: x

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to one and all who took such
good care of me in a most splen-
did way.

My husband, my son and his
wife join re in singing their
praise.

Sill Baxter
West Vancouver

Fabricland's Sewing Club
Members Cook Book
Now oa.
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eNORTH VAN .

995 Mann Or, Capuano Matt

41 Lonsdale Ave”

Wednesday, July 16, 1991 - North Shore News - 7
-———s a
a. yericy specats"
SUN: Sr farts
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