Canada and Italy Sign Housing Co-Operation Agreement

OTTAWA, Ontario, January 24, 2001 — Canada and Italy inaugurated an era of increased bilateral co-operation in housing and related technologies thanks to a Memorandum of Understanding (MOU) signed yesterday in Ottawa.

The Honourable Alfonso Gagliano, Minister responsible for Canada Mortgage and Housing Corporation (CMHC) and the Honourable Mauro Fabris, Under Secretary of State for Foreign Trade and Tourism, formalized arrangements between the two governments to exchange information and co-operate on housing initiatives and investment opportunities related to housing, beneficial to both countries.

"The Government of Canada, through CMHC, plays a key role in the expansion of international markets for Canadian housing products and services," said Minister Gagliano. "Today's Memorandum of Understanding will not only foster closer co-operation between our two countries but will provide Canada's housing industry with additional opportunities to promote its expertise abroad."

Minister Fabris added, "the closer co-operation between Italy and Canada will indeed benefit both our countries. I am sure we will be able to share valuable knowledge on the best practices to use in both our countries to promote business development in our housing sectors."

Co-operation between Canada and Italy will include:

• Exchanging information on investment opportunities related to the housing sector in Italy and Canada and;

• Promoting commercial and industrial co-operation through workshops and economic missions that provide the best opportunities for growth for the housing sector in both countries.

Canada Mortgage and Housing Corporation, Canada's housing agency, works closely with industry and other Team Canada partners to promote the excellence of Canadian housing in foreign markets, increasing export opportunities for housing products, services and expertise.

CMHC represents industry interests around the world and acts as an official point of contact with foreign governments and organizations. CMHC also opens doors for export business by bringing down trade barriers, supporting export promotion through trade shows and missions, gathering market intelligence and encouraging more firms to export.

Research in housing design, technology and sustainability by CMHC has led to innovative Canadian housing concepts which the industry can promote abroad to help their entry into export markets.