PRESS RELEASES

PRESS RELEASES

Posted on Feb 09, 2016

The federal government has announced that it has amended its sanctions against Iran in order to bring Canada’s position in line with those of other world powers, including the United States and EU member states. The changes include lifting of a broad ban on financial services, imports and exports that will allow Canadian companies to do business with Iran on the same terms as their global competitors.

Jim Quick, President and CEO of the Aerospace Industries Association of Canada, issued the following statement in response to the announcement:

"In late December, I wrote to Minister Dion asking him to bring Canada’s sanctions against Iran in line with those of other major global powers, including the United States and the European Union. We were concerned that some of the measures Canada had set in place with respect to Iran placed Canadian aerospace companies at a disadvantage against their competitors and could result in lost opportunities for Canadian firms to do business around the world.

"I would like to congratulate the Minister and the Government of Canada for their quick action in bringing Canada’s relationship with Iran in line with those of our allies. Aerospace is a truly global industry, and it is essential that trade agreements, sanctions and other measures governing international trade ensure that Canadian companies can compete on an equal playing field against aerospace firms from other parts of the world. The government’s action on this file is good news for our industry, and we thank them for their hard work in resolving this issue.

About AIAC: 
AIAC is the national association representing Canada’s aerospace manufacturing and services sector.  As the world’s fifth-largest aerospace industry, Canada’s aerospace sector contributes over $29B to the economy in GDP, exports 80% of its output, and dedicates over 20% of its activity to research and development (R&D). Aerospace is responsible for the employment of 180,000 Canadians.

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