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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 16, 1974, Lethbridge, Alberta May LETHBRIDQE Canada eyed as rich nation By BRUCE LEVETT WASHINGTON Canada is being regarded by some Pacific basin countries as a selfish in the wake of a speech by 'Marcel Canadian Ambassador to the United a top Canadian business executive said Wednesday. J. Hugh Stevens of recently re-elected chairman of the Canadian delegation to the Pacific Basin Economic said while it may have had good bilateral implications vis-a-vis the United has occasioned great concern among the developing was not so much the con- tent as the tone Ambassador Cadieux deliv- ered the speech Monday before a luncheon meeting at PBEC's annual general offering it as an outline of position in a rapidly changing international economic situation.'' It was learned later that the ambassador's speech was. written in Ottawa for delivery here. EXPRESSES president and chief executive of Canada Wire and Cable Co called in reporters to express his concern that Canada was being regarded as rich and selfish following the speech. heard this from members of just about all the other par- ticipating U New and one or two of the developing nations with people here have made the same Stevens said a veteran member of the organization of top business executives operating in the Pacific said. one speech is going to prejudice investment we are trying to create an atmosphere or image of welcoming capital in Canada The ambassador stiessed the same that Canada welcomes foreign stressing that under recently enacted such investment must also have a bwiefinal effect on the Canadian economy. The same point was made by John D Wilson of chairman for Canada on the council's invest rnents committee who like Cadieux outlined the new Foreign Investment Review Act CLIMATE HEALTHY senior v i c c president of Canada Trust Co also stressed that Canadian investment climate continues to be healthy and foreign investors should still consider Canada as one of the most open countries in the world tor making new investments Thp ambassador also made point in his speech Stovens said much was said about FIRA that there has grown a strong feeling of concern that Canada doesn't want foreign investment -and the reverse is true.'' has been told that Canada 'speaks with forked tongue' -saying she wants in- then putting in a tough set of Stevens said try to explain that the key is in the application of the The Canadian committee on PBEC which Stevens has been officially designated by External Affairs Minister Mitchell Sharp as Canada's economic advisory committee.'' and as such maintains close liaison with the Canadian government Stevens said that the am- bassador's speech may have been aimed primarily at the U.S.. but has been mis- interpreted by some of the other and ef- what we are trying to on behalf of Canada He said he would make this point with Sharp during a ses- sion set for Ottawa some time following the general meeting here which ended Wednesday. DELAY THEIR RETURN SAIPAN turn of the people of Bikini the former United Stales atomic test to their former home has been postponed officials at the headquarters for the U.S.-administered Pacific trust territory said Thursday. The residents left the atoll 25 years ago and were to return May 15. The an- nouncement followed a state- ment from the former Bikini under consideration in saying they will return until the U.S. Keep those promises youVe mode to yourself with o little help from a Bonus Savings Recount. flnd...Royol Certified Service helps you figure out how much you con afford to save. When that first great idea grows into a promise you mean to a Bonus Savings account at the Royal Bank can be very helpful It pays a healthy interest rate on your minimum monthly with no cheques to tempt you in a weak moment. Open your own Bonus Savings account at any branch of the Royal Bank And to help get yourself organized for pick up an application for our new Royal Certified complete package of all the daily banking services for just a month By eliminating all other service charges. Royal Certified Service makes it easier to figure out where you stand with your money And in makes it easier to figure out how much you can afford to save Royal Certified Service and a Bonus Savings account If they help you keep those promises you've made to we'll be keeping our promise as the helpful bank. ROYAL BAN helpy bank R dozen uuoys for us to be more helpful. UNLIMITED CHEQUING JVERDRAFT PROTECT'ON SAFE OEPOS'T PERSQNAUZf-D THEQUtS CHtQl'E CASHlNG-COASiT TO VAl ATlON TRAVEL ROYAL 8ANK PWrOURSfcLF SAVINGS SERVICE CHARGE Bli i. PAYMENTS NO TRAVELLERS CHEQuFS NO CHARGE MONEY ORDERS REDUCTION ON AN HAT ;