OTTAWA, Dec. 6, 2012 /CNW/ - The importance of aerospace trade was highlighted at today's conclusion of the Canadian Aerospace Summit, an event that drew a record-breaking attendance that included an A-list of aerospace industry executives, as well as foreign diplomats and senior Canadian federal officials.

"Canada's world-class aerospace sector is an international success story," said the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway. "By supporting tens of thousands of good jobs that families rely on in every region of the country and contributing billions to the Canadian economy, aerospace is a sector that symbolizes Canadian excellence. Our government is committed to ensuring this vital industry benefits from new markets that we are opening as part of the most ambitious trade expansion plan in our nation's history."

The Summit played host to more than 650 participants, including foreign delegations from Russia, Mexico, Spain, Ukraine and Poland among others.

"It's a sign of the times. These countries are paying close attention to what Canada is saying, and they will be watching even more closely to see how we follow through," said Hlne Gagnon, incoming Chair of the Aerospace Industries Association of Canada, and the Vice President of Public Affairs, Communications and Corporate Social Responsibility for Bombardier Aerospace. "It is now up to our industry and the government to act on the recommendations of the Aerospace Review, including those aimed at enhancing Canada's international trade relationships in this knowledge-intensive and high value industry."

Jim Quick, President and CEO of AIAC added that the Summit's resounding success reflects the aerospace industry's momentum as well as its value and importance to Canada.

"Minister Paradis and Minister Fast both indicated their support for the industry during the Summit. We thank them for their commitment to maintaining the world-class status of Canada's aerospace industry, and we look forward to working with them and their officials to implement the Report's recommendations," concluded Mr. Quick.

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 generates more than $22 billion, exports 80% of its output, and dedicates over 20% of its manufacturing activity to research and development (R&D). Aerospace is responsible for the employment of 160,000 Canadians. AIAC represents the interests of over 700 aerospace companies across Canada.

SOURCE: Aerospace Industries Association of Canada

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Federal government, foreign competitor interest signals significance of aerospace to international trade