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Ottawa, February 24, 2004
2004-013

Minister of State Announces Extension of Tariff Programs Benefiting Developing Nations

Minister of State (Financial Institutions) Denis Paradis, on behalf of Minister of Finance Ralph Goodale, today introduced legislation that would extend for a further 10 years two tariff programs: the General Preferential Tariff (GPT) and Least Developed Country Tariff (LDCT).

"Both programs have been in place for decades as part of Canada’s commitment to encourage economic growth in the developing world," said Minister of State Paradis. "By extending these preferential tariffs, Canada stands with all other industrialized countries in helping to raise the standard of living of those in need."

The GPT, established in 1974, lowers Canadian tariffs on a wide range of goods from more than 180 developing countries. The LDCT, introduced in 1983, benefits 48 of the world’s poorest nations by providing duty-free access into Canada for all of their products, except certain agricultural goods.

The legislation introduced today would extend both programs to June 30, 2014.

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