Fast says support to continue for small aerospace SMEs
Oct. 14, 2014, Ottawa - In a speech to the Economic Club of Canada in Toronto on Friday, 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.