FPAC Applauds the Federal Government on the Signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)

Forest Products Association of Canada (FPAC) applauds the Canadian government, and in particular Minister Champagne, on the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. This agreement will benefit the Canadian forest products industry by eliminating tariffs, as well as providing clear provisions to help settle disputes and avoid unfair blocking of imports because of concerns about issues such as insects or other contaminants. For example, forest products from Canada now face:.
•31% tariff to Vietnam for certain kinds of wood, going down to 0% starting Year 1 and up to 27% for paper, which will be at 0% by Year 4.
•40% tariff to Malaysia for plywood and up to 25% for paper, down to 0% by Year 6.
•10% tariff to Japan for wood products, going down as low as 5% in Year 1 and 0% as early as Year 11.

“The CPTPP will increase Canadian forest products access to key global markets,” says CEO of FPAC, Derek Nighbor. “Growing exports will create more middle class jobs in the over 600 forest dependent communities across Canada and help the forest sector diversify its markets.”

Between 2012 and 2016 Canadian forest products, exports to the remaining members of TPP grew 18% to over $2 billion, with exports to Vietnam, New Zealand and Mexico growing the most by 312%, 90% and 44%, respectively. FPAC believes that with the elimination of tariffs and strengthening trade relations between countries, Canadian forest products exports will grow even more.

“The sector is working hard to diversify its markets, especially beyond the United States who have enacted unfounded protectionist measures against our industry; and we encourage the government to continue with its efforts to extend freer trade and increase our country’s competitiveness,” says Nighbor. “Canada needs to be part of the first 6 countries to ratify the CPTPP in order to ensure we have first access to these growing markets.”

FPAC urges the speedy ratification by governments of this 21st-century deal.
http://www.fpac.ca/fpac-applauds-the-federal-government-on-the-signing-of-the-comprehensive-and-progressive-agreement-for-trans-pacific-partnership-cptpp/

Related Posts

Metsä Tissue to rebuild greaseproof paper machine at Düren mill

Metsä Tissue will rebuild paper machine 5 at its Düren mill in Germany. The total investment is approximately EUR 15 million and the rebuild starts immediately. The new volumes will be available on the market during the last quarter of 2018. “We expect the demand for baking and cooking papers to continue to grow during the coming years. This investment will increase Düren mill’s paper production capacity by 10.000 tons, which will help us to secure our leading position as a global supplier of high-quality baking and cooking papers”, says Mariusz Jedrzejewski, SVP Baking & Cooking, Metsä Tissue. “We have production in Düren, Germany, and Mänttä, Finland, where we increased the production capacity in 2016. Both mills play a significant role in our Baking & Cooking business. Our products are made of fresh fibre, and the wood originates from sustainably managed Northern forests. This high-quality raw material combined with our strong production expertise result in high endurance and consistent high quality products.”

Fortress Global Enterprises Reports First Quarter 2018 Results

Fortress Global Enterprises Inc. reported 2018 first quarter operating EBITDA loss from continuing operations of $1.4 million compared to operating EBITDA loss from continuing operations of $5.7 million in the previous quarter and operating EBITDA from continuing operations of $6.0 million in the prior year comparative period. The Dissolving Pulp Segment generated operating EBITDA of $0.2 million and corporate costs were $1.6 million in the first quarter of 2018. Click Read More below for additional information.

Domtar, Paper Excellence Merger Approved by Stockholders

Stockholders of Domtar Corporation approved a proposal to adopt a business combination with Paper Excellence B.V. whereby Karta Halten B.V., an affiliate of Paper Excellence, will acquire all of the issued and outstanding shares of Domtar common stock for $55.50 per share in cash pursuant to an agreement and plan of merger dated May 10, 2021 (the “Merger”). More than 81 percent (81.93%) of the issued and outstanding shares of Domtar’s common stock entitled to vote at the special meeting of stockholders were voted in favor of the Merger. In addition, the non-binding compensation advisory proposal was also approved by a majority of the shares represented at the meeting.
Back To Top
×Close search
Search