COFI Welcomes Measures Addressing Competitiveness in 2017 B.C. Budget
February 21, 2017
For Immediate Release
Vancouver, BC – The Council of Forest Industries (COFI) today welcomed the Government of B.C.’s s fifth consecutive balanced budget which provides some tax relief to encourage competitiveness and a continued commitment to expand our export markets.
“We are pleased to see the PST on electricity will be phased out over the next two years,” said Susan Yurkovich, President and CEO of COFI. “This tax relief is critically important for forest-dependent communities in B.C. Reducing taxes frees up capital to be spent in facilities around the province.”
“COFI also appreciates the Province’s continued commitment to diversifying our export markets,” added Yurkovich. “Over the last 10 years, we have worked collaboratively to expand our markets in Asia. These efforts have produced results, and today Asia makes up about 30 per cent of the export market for B.C.’s high quality forest products. We are now exploring opportunities in India and ASEAN countries. Today’s announcement of $6 million to fund three B.C. government trade and investment offices in ASEAN countries will help support these efforts.”
The Council of Forest Industries is the voice of the B.C. interior forest industry. COFI members produce lumber, pulp and paper, panels and engineered wood products at more than 60 facilities across the interior. All share a commitment to a future based on employee safety, sustainable forestry and manufacturing practices, and innovative product development.