North Bay, Ontario—

The Honourable James Moore, Minister of Industry, today met with Canadian aerospace and defence leaders to discuss how to best position the industry for growth in northern Ontario. Minister Moore was joined by Jay Aspin, Member of Parliament for Nipissing–Timiskaming.

"Canada's dynamic aerospace and space industries contribute over 170,000 high-payingjobs and more than $27 billion annually to the Canadian economy," said Minister Moore. "Northern Ontario's aerospace and defence industries are well positioned to further contribute to the growth of Canada's economy and support the creation of high-skilledjobs."

Mr. Aspin said the meeting pointed to a positive future for aerospace in northern Ontario. "I am delighted to welcome aerospace and defence business leaders and decision makers to North Bay for this important Aerospace Forum," he said. "Our discussions are a positive step in determining how our companies, and indeed companies in northern Ontario, can contribute to improving Canada's aerospace standing and support this growing sector of our economy."

"The ability of the Canadian industry to compete on the world stage begins with developing a strong supply chain at home," said Jim Quick, President and CEO of the Aerospace Industries Association of Canada, who was also at the meeting. "Aerospace has huge potential for growth in the coming years, and we thank Minister Moore and the government for helping to ensure that companies in all parts of Canada, including northern Ontario, have the resources and environment they need to make the most of this opportunity."

The government took action this year to implement recommendations stemming from the Review of Aerospace and Space Programs and Policies that the Honourable David Emerson conducted last fall.

Economic Action Plan 2013 demonstrated the government's commitment to the aerospace and space industries by providing stable funding of nearly $1 billion over five years to the Strategic Aerospace and Defence Initiative, creating a Technology Demonstration Program, and launching consultations for the creation of a National Aerospace Research and Technology Network. It also proposed new measures to promote business innovation in Canada, such as helping small and medium-sized enterprises access research and development services.

The Canada–European Union (EU) Comprehensive Economic and Trade Agreement (CETA) will also benefit Canadian aerospace manufacturers. Currently, 80 percent of aerospace manufacturing output is exported, a quarter of which goes to Europe. When fully enacted, CETA will eliminate the vast majority of existing EU tariffs on advanced manufactured products. This will help Canadian aerospace companies increase their exports to the EU.

By:IANS