Aéro Montréal welcomes the signing of the Comprehensive Economic and Trade Agreement (CETA) at the European Union-Canada Summit

MONTRÉAL, Oct. 31, 2016 /CNW Telbec/ - Aéro Montréal, Québec's aerospace cluster, is very excited about the positive impact the new Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (EU) promises to have on the aerospace sector. This agreement represents an extremely important market in terms of trade, especially for SMEs in the sector in Québec. Among other measures, CETA eliminates tariffs on aerospace products.

"The European Union is the largest importer of aerospace products in the world, a market valued at $91 billion in 2015," says Suzanne M. Benoît, President of Aéro Montréal. "The implementation of this agreement between Canada and the EU is an opportunity for our companies to expand their access to a market where they have already developed business ties through more simple mechanisms. About 80% of Québec's aerospace production is exported outside Canada and the Canadian aerospace market represents just over 5% of European aerospace imports. Our industry has everything to gain from facilitating this type of trade to promote the development of our SMEs and, by extension, create high value-added jobs."

Québec's aerospace industry is very dynamic, with sales of over $15.5 billion and 40,160 jobs in 2015. It is the leader in Canada and the sixth largest producer in the world. According to the Conference Board of Canada, aerospace is the only high-tech industry in Canada that generates trade surpluses year after year.

"The implementation of this agreement will promote the growth of our economy and open some of the most promising markets in the world to Canadian companies," says Ms. Benoît. "CETA is part of our commitment to further develop overseas markets that offer our companies of all sizes tangible business opportunities."

About Aéro Montréal (aeroMontréal.ca)

Created in 2006, Aéro Montréal is a strategic think tank that groups all major decision makers in Québec's aerospace sector, including companies, educational and research institutions, as well as associations and unions.

Aéro Montréal's mission is to engage Québec's aerospace cluster with a view to increasing its growth and expansion on the global scene. Its vision is to become a benchmark in global aerospace. To this end, it champions the following values: excellence, engagement, collaboration, versatility and innovation.

 

SOURCE Aéro Montréal

Image with caption: "Logo: Aéro Montréal (Groupe CNW/Aéro Montréal) (CNW Group/Aéro Montréal)". Image available at: http://photos.newswire.ca/images/download/20161031_C3699_PHOTO_EN_808262.jpg

For further information: Gwenaël Brisé, Communications Manager, Aéro Montréal, Cell: 438 497-3857 | Off: 514 987-9395, gwenael.brise@aeroMontréal.ca

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http://www.aeromontreal.ca/

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