Natural Resources Canada

Natural Resources Canada

November 12, 2013 18:04 ET

Minister Oliver Highlights Widespread Benefits of Canada-EU Trade Agreement for the Mining Industry

TORONTO, ONTARIO--(Marketwired - Nov. 12, 2013) - The Honourable Joe Oliver, Canada's Minister of Natural Resources, today delivered remarks to the Prospectors & Developers Association of Canada (PDAC) Board of Directors and highlighted the benefits of the Canada-European Union Comprehensive Economic Trade Agreement for the mining industry.

"Canada's mining and exploration industries stand to benefit significantly from this historic trade agreement," said Minister Oliver. "The Canada-EU agreement will open new markets to Canadian exporters throughout Europe, securing a competitive edge that will benefit both urban and rural workers from coast to coast, including those in many Aboriginal communities."

Canada is a leading nation in mineral exploration and mining, producing more than 60 minerals and metals domestically and operating in 100 nations around the world. The metal and minerals industry is a significant contributor to Canada's GDP and employed approximately 400,000 Canadians in 2012.

The export of metal and mineral products to the European Union is an important economic activity for Canada, with average annual exports of over $20 billion between 2010 and 2012. Upon coming into force, the Canada-EU trade agreement will eliminate substantially all EU tariffs on metals and mineral products and mining technology products.

"The PDAC is pleased that the Canada-EU agreement includes important provisions that will create an enabling environment for investments in the mineral industries of both regions," said Glenn Nolan, PDAC President. "These investments will help generate jobs, revenues and other economic opportunities for Canadians."

By guaranteeing Canadians better and more secure access to EU markets than our competitors enjoy, the Canada-EU trade agreement will provide Canadian workers and businesses with opportunities that lead directly to jobs, growth and long-term prosperity in every region of the country.

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