OTTAWA, Oct. 18, 2013 /CNW/ - The Forest Products Association of Canada (FPAC) today expressed its support for the agreement in principle for a Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union. One of its measures will result in the elimination of quotas and tariffs of up to 10% on imports of wood based panels.
"We welcome this trade deal and appreciate the government's strong push in the area of freer trade," said the President and CEO of FPAC, David Lindsay. "The prosperity of the forest products industry relies on strong exports."
Last year the Canadian forest sector exported more than $1 billion of wood, pulp and paper products to the EU member states. This is 4% of total exports of Canadian forest products making Europe the 3rd largest international market for the sector. The largest importers of Canadian forest products in Europe are the United Kingdom followed by Italy, Germany, the Netherlands and France.
"The forest products industry is aiming to increase its revenues by $20 billion through new markets and new innovations as part of our Vision2020 initiative," says Lindsay. "The sector is working hard to diversify its markets beyond the United States and we encourage the government to continue advocating for increased trade in regions such as Europe and Asia. These areas provide good market opportunities for our industry's traditional and future products."
FPAC also urges speedy ratification by governments and prompt implementation of this landmark deal.
FPAC provides a voice for Canada's wood, pulp, and paper producers nationally and internationally in government, trade, and environmental affairs. The $57-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.
SOURCE FOREST PRODUCTS ASSOCIATION OF CANADA