December 14, 2006 (6:45 p.m. EST)
No. 157

SOFTWOOD LUMBER LEGISLATION RECEIVES ROYAL ASSENT

The Honourable David Emerson, Minister of International Trade, and the Honourable Maxime Bernier, Minister of Industry, today announced that Bill C-24, the Softwood Lumber Products Export Charge Act, 2006, received Royal Assent in Parliament.

“This important event is the last step in implementing the Softwood Lumber Agreement between Canada and the United States and marks a tremendous achievement for Canada’s New Government,” declared Minister Emerson. “This Agreement enables softwood lumber companies to grow their businesses, contributing to Canada=s economy and sustaining jobs in hundreds of lumber-dependent communities across Canada.”

On October 12, the Softwood Lumber Agreement came into force. Three weeks later, Canadian producers and sawmills began to receive refunds of duties through the Export Development Canada refund mechanism. To date, more than 98.9 percent of refunds have been processed.

“The Agreement has meant a much-needed infusion of capital—more than $5 billion—for an industry facing weak markets,” said Minister Bernier. “The refunds provided under the Agreement can be used by our lumber producers to reinvest in their enterprises, improve efficiency and weather the downturn in lumber prices.”

For the next seven to nine years, the Softwood Lumber Agreement will provide Canadian producers with a more stable, predictable trade environment, by preventing any further litigation. Victories in a number of trade courts—including under NAFTA and the World Trade Organization—were helpful in setting the stage for a negotiated settlement.

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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