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Canada has always looked to Egypt as a unique geographical location and vast human resources and as a major regional power that plays a significant role in Africa and the Middle East.
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Trade and investment between Egypt and Canada is ever expanding, according to 2004 statistics it reached US $ 310 million. In the last year, the Egyptian exports reached a record high of US $ 116 million consisting mainly of coal, newsprint, wheat and cereals pulses and oil seeds, paperboard and wood pulp, telecommunications and high-tech equipment.
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Egypt and Canada has established diplomatic relations since 1954 by opening embassies. Ever since, both countries have enjoyed warm ties with a wide range of areas of common interests and cooperation, especially in the search for a just and comprehensive peace settlement for the Middle East conflict.
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Politically, Canada gained its reputation in Egypt with its successful intervention in 1956 Suez Crisis. The Canadian forces have joined the UN peacekeeping forces in the Sinai and currently are serving as peacekeepers in the Multinational Force. The Canadian Embassy building in Cairo represents the importance of the relations between Canada and Egypt.
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CIDA program in Egypt has helped in the development of various sectors, especially fields of education, small and medium enterprises, and health-care with an emphasis on women�s development. However, Canada�s International Policy Statement Review published in April 2005 has reduced the recipient countries. Yet, the current projects financed by the Agency in Egypt will be completed, and future economic aid will be mutually agreed upon.
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Egyptian and Canadian businesses have had limited interaction in the past. This is changing; change requires bodies that build, maintain and foster greater relations between interested parties from both countries.
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