November 1, 2016-OTTAWA: The forest products industry is pleased that today’s fiscal update underscored the importance of better trade infrastructure and “corridors” to service global markets as a means to help grow the economy and support middle class jobs.
In his economic update to the House of Commons, the Minister of Finance, Bill Morneau, announced that Canada will be spending $10.1 billion over 11 years to “make strategic investments in trade and transportation projects that build stronger, more efficient transportation corridors to international markets and help Canadian businesses to compete”.
“We agree that trade corridors will help grow the economy of the future and support prosperity,” says the CEO of the Forest Products Association of Canada (FPAC), Derek Nighbor. “Effective transportation is vital for the forest sector’s competitiveness and export performance which supports middle class jobs.” Nighbor also noted that transportation is responsible for about a third of all industry costs.
The Canadian forest industry exports $33 billion dollars of products each year to about 175 different countries. Forest products are Canada’s largest export sector to Asia and China and the fourth largest export sector overall.
FPAC also welcomes the announcement to appoint more trade commissioners as part of its “Invest in Canada Hub” as they serve as a vital link to global markets and provide intelligence on market conditions. The industry is also pleased with the new Global Skills Strategy that will fast-track accessing global talent when necessary.
The full Fall Economic Statement “A Plan for Middle Class Progress” can be read here: http://www.budget.gc.ca/fes-eea/2016/home-accueil-en.html
FPAC provides a voice for Canada’s wood, pulp, and paper producers nationally and internationally in government, trade, and environmental affairs. The $65-billion-a-year forest products industry represents 2% of Canada’s GDP and is one of Canada’s largest employers operating in hundreds of communities and providing 230,000 direct jobs across the country.
For more information contact: