Today, along with the Prime Minister, provincial premiers, territorial leaders and Canadian business leaders, I am here to reaffirm the strength of the Brazilian-Canadian relationship and to pledge our support for freer trade, not only here in Latin America, but around the globe. We meet today as firm friends, united by experience and by our common commitment to the principles of freer trade. Last spring, those ties were confirmed by the visit of President Cardoso to Canada. Brazil is already our most important trading partner in South America, but we know that there is tremendous potential still untapped. Of course, impediments still exist.
Tariffs remain high in a number of areas, on both sides of the ledger.
Customs procedures must be streamlined. Traditionally, our exports consisted of wheat, newsprint and potash. What began as an investment by Brascan in public works nearly 100 years ago has developed into a mature, diverse and balanced trade relationship today. Increasingly, our small and medium-sized businesses are discovering this region, and their interest is reflected in their preponderant representation in this trade mission. So it is with great optimism that we come here today and look ahead to the prospects for tomorrow.