CANADA’S CHEMISTRY INDUSTRY WELCOMES TRADE AGREEMENT WITH SOUTH KOREA
The Chemistry Industry Association of Canada (CIAC) congratulates the federal government on its announcement today of securing a free trade agreement with South Korea. As a $49-billion sector that relies heavily on exports, Canada’s chemistry industry supports any efforts to eliminate global import tariffs on chemicals.
“Achieving a free trade agreement with such a major economy creates solid growth opportunities for Canada’s chemistry industry,” says Richard Paton, CIAC’s President and CEO.
Canada exported $105 million of industrial chemicals to South Korea in 2013, including $32 million of butyl rubber, which is used to make tires, adhesives, medical products, and sporting goods.
CIAC represents the interests of Canada’s leading chemistry companies – from petrochemical, inorganic and specialty chemical producers, to bio-based manufacturers and chemistry-related technology and R&D companies. Canada’s chemistry industry employs 84,000 Canadians directly, and supports another 420,000 jobs in the Canadian economy.