Mr. Speaker, we welcome President Katsav of Israel on his first state visit to Canada reflecting the close and friendly bilateral relationship between our two countries--nurtured by strong political, economic, juridical and cultural ties; the shared values of two parliamentary democracies; multicultural societies and nations of immigrants; mixed legal jurisdictions of civil and common law; and each undergoing a constitutional revolution with the adoption of charters of rights and with trade based economies offering unlimited partnering opportunities and export potential.
President Katsav's visit coincides with an important anniversary, the fifth anniversary of the Canada-Israel free trade agreement which has been an undisputed success for both Canada and Israel. Bilateral trade has doubled. Canada's exports to Israel have grown more than 30% and in 2001 two way trade exceeded $1 billion for the first time ever.
As we look ahead to the next five years, we are confident that the Canada-Israel free trade agreement will continue to serve as a powerful tool for increased trade and investment which are the lifeblood of our economy and an important source of jobs for all Canadians.