Canada's Forest Products Industry Looks to Strengthening Trade Ties with China
"Growing our exports to overseas markets, especially China, is vital to our Vision and the future prospects of Canada's forest products sector." — Catherine Cobden, President and CEO, FPAC.
Aug. 16, 2012 (Press Release) - The Forest Products Association of Canada (FPAC) is urging the government to follow through on the conclusion of the Canada-China Economic Complementarities Study which states that Canada and China should continue to strengthen their bilateral trade and investment ties. Canadian forest companies are already working hard to deepen relations with the lucrative consumer market in China.
Increased exports are also essential for the forest products industry to reach its Vision2020 goal of generating an additional $20 billion in economic activity from new innovations and growing markets
"Growing our exports to overseas markets, especially China, is vital to our Vision and the future prospects of Canada's forest products sector," says Catherine Cobden, the President and CEO of FPAC. "We agree with this study which highlights the benefit of deeper Canada-China trade and investment ties."
Forest products are already Canada's number one export sector to China. Since the year 2001 the industry has increased its wood exports to China by 45 times. Total Canadian forest products exports to China exceeded $4 Billion in 2011.
"We truly appreciate the important role the federal government has already played in supporting the sector's market diversification efforts overseas especially in China," says Cobden "Record-high sales of Canadian forest products to China are creating jobs and economic opportunities for Canadians especially in rural communities that rely on the health of the forest sector."
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