(No. 31 - January 21, 2011 - 3:30 p.m. ET) “Today, the London Court of International Arbitration provided its decision on a U.S. challenge against forestry programs run by the provinces of Ontario and Quebec.
“The Government of Canada is closely reviewing this decision and its impact on the Canadian industry.
“I note that the tribunal rejected 97 percent of the United States’ $1.86-billion claim as having no basis.
“Canada remains committed to the Softwood Lumber Agreement, which provided for a fair and independent ruling on these claims. Before 2006, disputes resulted in unilateral action that unduly and unjustifiably punished the Canadian forestry industry.
“The Softwood Lumber Agreement has brought much-needed stability and predictability to the lumber industry and returned over $5 billion to Canadian exporters at a time when they needed it most.”
For more details on the London Court of International Arbitration ruling, visit Dispute Settlement.
For more information, please visit Softwood Lumber.
- 30 -
For further information, media representatives may contact:
Office of the Honourable Peter Van Loan
Minister of International Trade
Trade Media Relations Office
Foreign Affairs and International Trade Canada