Speech by International Trade Minister Good News for Trade-Focused Aerospace SMEs

OTTAWA, ON--(Marketwired - October 10, 2014) - In a speech to the Economic Club of Canada in Toronto today, the Honourable Ed Fast, Minister of International Trade, committed to focusing on helping small and medium enterprises (SMEs) seize new opportunities to boost their exports and global trade presence. The announcement comes as part of the government's Global Markets Action Plan (GMAP), in which aerospace is named a key sector. 

"Small- and medium-sized businesses are the key economic drivers in Canada, and their success in overseas markets is critical to achieving and maintaining our job growth and our economic prosperity," said Minister Fast.

"For Canada's aerospace industry, which exports 80% of its products and of which approximately 600 of its companies are SMEs, this is excellent news," said Jim Quick, President and CEO of the Aerospace Industries Association of Canada (AIAC). "Our industry's success -- and our companies' ability to grow and expand their business -- hinges on easy access to global markets and strong government support for trade-focused companies. We thank Minister Fast and the government for their excellent work promoting opportunities for Canada's exporters, including the aerospace industry."

In his speech, the Minister committed to the following specific actions to support SMEs:

• Enhanced coordination and alignment between export-oriented agencies to provide SMEs with export-related technical assistance and prepare them for export readiness;
• Embedded trade commissioners in business and industry associations across the country, including the Aerospace Industries Association of Canada (AIAC);
• Working closely with the private sector and industry associations to promote the opportunities associated with trade agreements; and
• Hosting trade promotion workshops across Canada to provide businesses with information on trade-related tools available to them.

A full copy of Minister Fast's speaking remarks is available online.

About AIAC:
AIAC is the national association representing Canada's aerospace manufacturing and services sector. As the world's fifth-largest aerospace industry, Canada's aerospace sector contributes nearly $28B to the economy in GDP, exports 80% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 172,000 Canadians. AIAC represents the interests of over 700 aerospace companies across Canada.

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