US embassy cable - 04OTTAWA3036

UNCLAS OTTAWA 003036 
 
SIPDIS 
 
STATE FOR EB/ODF, EB/IRAQ, NEA/I - BYERGO AND WHA/CAN 
 
E.O. 12958: N/A 
TAGS: ECON, EFIN, PGOV, CA, IZ, Trade 
SUBJECT: CANADA:  LUKEWARM TO EXPORT CREDIT AGENCY 
AGREEMENT WITH IRAQ'S TRADE BANK 
 
REF: STATE 228304 
 
1.  We conveyed the points in reftel to officials at Foreign 
Affairs Canada (FAC), the Canadian International Development 
Agency, Export Development Canada (the ECA) and the 
Department of Finance.  Although there is no opposition in 
principle to signing a framework agreement with the Trade 
Bank of Iraq, there is, thus far, no demand from Canadian 
businesses and there is unlikely to be any until the security 
situation is more inviting.  We were told that EDC also has 
concerns about the long-term reliability of the oil revenue 
flows that would back up TBI guarantees. The GOC is open to 
approaches from TBI "once peace breaks out" and believes a 
Canadian bank may have already signed some sort of protocol 
with Iraq. 
 
2.  A publication by International Trade Canada had a 
front-page article in October encouraging Canadian firms to 
participate in the "Rebuild Iraq 2005 exhibition in Amman 
next April, noting that it will "offer international 
suppliers a safe meeting place to present their products and 
technologies to Iraqi entrepreneurs, regional and 
international contractors and subcontrators, traders and 
importers, and Iraqi officials responsible for the Iraq 
Development Fund." The FAC contact person reports there has 
been no interest from Canadian firms, but he is optimistic 
that business will improve as the security situation settles. 
 He will be attending the November conference in Amman as a 
delegate and will look for counterparts from Embassy Amman. 
 
3. Baghdad minimize considered. 
 
Visit Canada's Classified Web Site at 
http://www.state.sgov.gov/p/wha/ottawa 
 
CELLUCCI