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To: Chris Stovin who wrote (2153)	3/8/1999 1:43:00 PM
From: jaymin patel	Read Replies (1) of 14638

Another great news FYI Saudi-Canada links boost $6B project hopes RIYADH, Saudi Arabia - New economic and business links forged recently between Canada and Saudi Arabia could lend important support to Canadian companies - including Nortel Networks - bidding for a giant $6bn (3.75bn) telecommunications project. The Saudi Telephone Expansion Project-8 (TEP-8) for the Saudi Telecommunications Company calls for an additional 2 million fixed lines, wireless local systems, microwave systems and long-haul fibre optic connections. A two-day meeting between key Canadian and Saudi commerce and industry representatives ended in a memorandum of understanding (MOU) signed in the presence of Canada's visiting Minister of International Trade Sergio Marchi. The meeting, between the Council of Saudi Cambers of Commerce and Industry (CSCCI) and the Canada-Arab Business Council, was co-chaired by Bertin Cote, Canada's assistant deputy Minister for Europe and Middle East. Arab News, a leading Saudi Arabian English language daily newspaper, quoted Cote as saying that the MOU was primarily designed to boost cooperation between the private sectors of the two countries. The newspaper report continued: "We certainly want to promote areas of Canadian expertise," he said, while referring to the participation of Canadian companies in the bidding for the TEP-8 project. "Nortel of Canada is one of the participants in the bidding for this prestigious project." The following day, Arab News reported Minister Marchi as saying: "I am very hopeful that Canadian companies can be chosen as partners [in TEP-8] because I believe we are as strong as any other country. Our technology is strong and pricing is very competitive."

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