NEWS RELEASES
October 30, 2006 (1:00 p.m. EST)
No. 123
COMPANIES RECEIVE U.S. DUTY REFUNDS LESS THAN THREE WEEKS
AFTER SOFTWOOD LUMBER AGREEMENT CAME INTO FORCE
The Honourable David Emerson, Minister of International Trade, and the Honourable
Maxime Bernier, Minister of Industry, today announced that an initial amount of
approximately $950 million in softwood lumber duty refunds has been disbursed by
Export Development Canada (EDC) to companies that had paid duties to the United
States.
“Just weeks after the Agreement was implemented, our government has delivered on
its promise to Canadian softwood lumber companies,” said Minister Emerson. “The
refunds are going out ahead of schedule, and companies can realize the benefits of this
agreement.”
The Government of Canada created the EDC mechanism in order to accelerate the
return of softwood lumber deposits to Canadian companies. Less than three weeks
after the Softwood Lumber Agreement came into force on October 12, 2006, Canadian
companies have begun to receive refunds from the EDC mechanism.
“This badly needed injection of cash is coming at a critical time to an industry that is
experiencing a market downturn and that provides more than 340,000 jobs, many of
which are in small communities across Canada,” said Minister Bernier.
Under the terms of the Softwood Lumber Agreement, more than $5 billion will be
returned to Canadian companies. EDC will continue to make expedited refunds to
participating companies over the coming weeks.
For more information, visit http://www.softwood.gc.ca or http://www.edc.ca.
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For further information, media representatives may contact:
Jennifer Chiu
Press Secretary
Office of the Minister of International Trade and Minister for the Pacific Gateway and
the Vancouver-Whistler Olympics
613-992-7332
Trade Media Relations Office
Foreign Affairs and International Trade Canada
613-996-2000
http://www.international.gc.ca
Isabelle Fontaine
Office of the Minister of Industry
613-995-9001
Media Relations
Industry Canada
613-943-2502
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