SALMON FISHING GEAR
LECKIE PACIFIC MONO GILLNETS
LECKIE GILLNET HANGING TWINES
SAMSON
CORKLINES RIVER/ OUTSIDE LEADLINES
FIRST WASHINGTON
66 NYLON SEINE NETTING
LECKIE S/S SEINE RINGS S/S PELICAN HOOKS #4 & #6 S/S SEINE LINKS
VANCOUVER CONTACT: GORDY HANNAY
PORT HARDY CONTACT:
POWERS BRAIDED NYLON TWINES
272-1804
PETER HAAN GORDON FINLAYSON
PORT HARDY MARINE & HARDWARE 949-6561
CP. Leckie Ltd.
Unit #4 12491 #2 Rd., Richmond, B.C. V7E 2G3 272-1804 FAX 272-9151
Free trade with Mexico may be next
CALM/Solinet
In early March Canadian government officials denied that a U.S.- Mexico free trade deal was in the offing.
In mid-March Prime Minister Brian Mulroney paid an official visit to Mexico. When he was asked about the possibility of a North American free trade deal, he responded slyly, saying he "wouldn't be scandalized at the prospect."
Then, in late March it was revealed that the U.S. and Mexico are planning to start negotiations on a free trade pact this summer.
During the free trade debate of 1987-88, many Canadians wondered whether the Canada-U.S. deal might be only the first step in creating a continental market that would include Mexico.
Such an arrangement would force Canadian workers to compete with Mexico's third world wage rates. And it would put the U.S. firmly in control of the new. North American trading bloc. Canada would produce the natural resources, Mexico would contribute cheap labour, and the U.S. would control the technology-
As it turns out, that was probably the U.S. game plan all along. Although they didn't admit it then, the U.S. was already discussing the idea with Mexico in 1988 — at the same time it was finalizing its deal with Canada.
When the first free trade agreement was struck in October 1987, then-U.S. President Ronald Reagan said: "The U.S.-Canada free trade agreement is a new economic constitution for North America."
MR. K.I. LONG PRESIDENT, BOARD OF DIRECTORS
MR. L.S. GATTO CHIEF EXECUTIVE OFFICER
GULF AND FRASER FISHERMEN'S CREDIT UNION DECLARES 24% SHARE DIVIDEND
Gulf and Fraser Fishermen's Credit Union celebrated another year of exceptional results at their Annual General Meeting, held on April 20, 1990. The Board of Directors is pleased to announce a share dividend of 24% on equity shares. Non-equity shares will receive a 12%. cash dividend, plus an additional 12% dividend which will be credited in the form of equity shares for a total return of 24%.
President, Mr. R.F. (Bob) Long, in his report to shareholders explained that "Gulf and Fraser Fishermen's Credit Union sets the standard for financial strength in the Province of B.C. In 1989, our assets surpassed the $150 million mark, a figure that was reached while maintaining sound and conservative policies that ensure the safety of our depositors' funds. The capital of the Credit Union continues to far exceed the levels required by legislation. This impressive result would not have been possible without the co-operation and commitment of our members. December 13,1990 marks Gulf and Fraser Fishermen's 50th Anniversary, and that milestone is cause for great pride in our joint achievements. The next year will be an exciting one for the Credit Union; we encourage you to join the excitement."
Chief Executive Officer, L. S. (Len) Gatto, stated in his report "A total of $1,318,259.00 was allocated to members in 1989, $778,560.00 of which was returned to the members in the form of equity shares from a patronage refund based on 1988 results, and $539,699.00 representing the 1989 share dividend. This represented the 49th straight year that the Credit Union declared a dividend. Even after this exceptional income distribution, the Credit Union was able to add $518,502.00 to retained earnings in 1989, continuing to build a strong capital base for the future. Retained earnings and equity shares totalled $7,273,755.00, well in excess of the minimum statutory requirement of $3,982,217.00. Growth continued to be strong, with total assets increasing by 15%, to almost $152 million, a record level for the Credit Union."
Copies of the 1989 Annual Report may be obtained from a branch of the Credit Union or by calling Mr. L. S. (Len) Gatto, Chief Executive Officer.
GULF and FRASER FISHERMEN'S CREDIT UNION
HEAD OFFICE:
2nd Fir. . 803 E. Hastings Vancouver. B.C.. V6A 1R8 Tel. (604) 254-7270
VANCOUVER BRANCH:
803 East Hastings Street Vancouver, B.C. V8E 1R8 Tel. (604) 254-9811
STEVESTON BRANCH:
3471 Chatham Street Richmond. B.C. V7E2Y9 Tel. (604) 271-5911
At the time, the Mulroney government insisted that nothing sinister was afoot. The deal was with the U.S., and Mexico wasn't in the cards. Just re-elect us, forget about Mexico, and free trade will bring the country hundreds of thousands of new jobs, Mulroney urged.
In fact, the government still insists that it won't get involved in a three-way, continental free trade deal. External Affairs Minister Joe Clark said in mid-April, "we're not getting involved in whatever might emerge."
But many economists think Canada may have no choice but to ask for a seat at the table with the U.S. and Mexico. Because of its own free trade deal with the U.S., Canada is hostage to other trading deals the U.S. makes on its own.
One columnist wrote, "We will be involved because in 1988 when we voted for free trade, we made a near-irrevocable decision — to commit Canada fully to the U.S. market."
Canadian business leaders, who promoted free trade with the U.S., are also in favour of a North American free trade zone. Laurent Thibault, President of the Canadian Manufacturers Association, says the Mexican market is a tremendous opportunity.
Scott Sinclair is the co-ordina-tor of Common Frontiers, a group that monitors Mexican-US. trade. He thinks a trade deal between the two countries could be ready within 18 months, and "a three-way deal involving Canada might not be far behind."
He warns that the present Mexican government has been persecuting its opposition, and crushing strikes by democratic unions.
Mexican workers make as little as 65 cents per hour. The average annual income is just $1,900 (U.S. dollars I, compared to $18,600 in Canada.
One business writer predicts that Canadian and U.S. workers would be the big losers if the U.S. is successful in setting up a North American free trade zone. The winners would be capitalists, both Mexican and non-Mexican, and "yuppies" in Canada and the U.S.
Gordon Pitts of The Financial Post writes, "Our well-educated, professional people won't be threatened by the low-cost labour in Mexico, and they will be able to reap the benefits from low-cost goods."
Finally, Canadian trade minister John Crosbie led a delegation of Canadian business executives to Mexico in late April. He applauded Mexico's bid to lower trade barriers.
Scott Sinclair of Common Frontiers commented: "I just hope Canadians realize that when Crosbie praises Mexico's economic policies, he is also praising union-busting, armed repression, and electoral fraud."
Sinclair predicts that, "continental free trade will mean lower wages and working standards for all of us — Canadian, Mexican and American — and it will mean continued erosion of democracy in all three countries."
Specialists in DOMESTIC and INTERNATIONAL TRAVEL Family visits arranged EXPERTS IN VISA DOCUMENTATION AUTHORIZED AGENTS -AIR, RAIL, SEA Contact:
NEW ADDRESS 2720 East Hastings Street Vancouver, B.C. V5K 1Z9 253-1221 254-2313
2 • THE FISHERMAN / MAY 14, 1990