Canada Signs $11M in Contracts

Canadian agriculture companies signed contracts with Russian firms worth a combined $11 million Tuesday.

A 56-member delegation, headed by Canadian Agriculture Minister Gerry Ritz, held negotiations with some 30 representatives from Russian agricultural firms and Agriculture Minister Alexei Gordeyev on Monday and Tuesday.

Canadian meat trader Ronald A. Chisholm Ltd. signed several export deals, including a $1 million pork contract with Dymov, a $2 million pork and beef contract with meat trader Center and a $6 million pork contract with Cherkizovo.

Agro-Canada, a livestock and agricultural technology firm, signed a $2 million contract with the Russian Center of Agricultural Consulting on consulting support for all Canadian cows exported to Russia.

"We welcome foreign investors and guarantee their security," Gordeyev said Tuesday at the meeting. He said he hoped that Russian-Canadian trade exchange would double next year to $600 million.