Thaindian News

New Delhi, Jan.17 (ANI): Canada’s Minister of International Trade Peter Van Loan has welcomed the opening of Canadian exports of spruce lumber to India.

The announcement is effective immediately and comes as a result of India’s recent certification of Canada’s spruce lumber for import.

Spruce, pine and fir are an important export for Canada and trade with India could grow to a significant number in the years to come.

“The Harper government’s number one priority remains the economy,” said Van Loan.

He added: “Achieving access to an important market such as India’s sends a strong signal to Canadian companies that we are committed to opening markets for Canadian businesses and Canadian workers.”

There is a large potential market for Canadian lumber in Asia. Between 2008 and 2009, the value of annual Canadian exports to China increased by 78 percent to 321.5 million dollars. In addition, continued collaboration between Canada and India in expanding access for other types of wood could lead to rapid growth in overall Canadian wood exports to India.

A Canada-India joint study concluded that a free trade agreement could increase bilateral trade by 50 percent and boost Canada’s economy by six billion dollars to 15 billion dollars annually.

Since taking office in 2006, the Harper government has concluded free trade agreements with eight countries. These are Colombia, Peru, Jordan, Panama and the European Free Trade Association states of Iceland, Norway, Switzerland and Liechtenstein.

“The Harper government will continue to take action to create jobs and economic growth for all Canadians, including workers in Canada’s forestry sector,” said Van Loan.

Continued collaboration between Canada and India in expanding access for other wood species could lead to rapid growth in overall Canadian wood exports to India. (ANI)