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Canada's prime minister emphasizes the importance of economic clusters

During an address to the Empire Club and the Canadian Club in Toronto Canada´s Prime Minister Paul Martin emphasized the importance of economic clusters for the development of Canada.

The Prime Minister, explained that Canada is 'rich in cultural diversity, has social programs that are the envy of so many others, and maintains a balanced budget a feat matched by no other nation of the G8.'

In part, he said he believes that these three advantages will continue to attract economic investment ' particularly in agriculture, mining, forestry, high-tech, and R&D based industry.

Martin pointed out that high tech and R&D are essential to small communities and their ability to grow their economies.

He proposed giving local communities more power in economic policy decisions in order to ensure that research and development is supported both in regional and prevalent national universities.

He insisted, therefore, on the importance of attracting the flow of venture capital into regions and the economic clusters they engender.

Full adress at the Government website