#Ontario; #VirtualMission; #Japan, #SouthKorea; #AutomotiveManufacturing; #LeadingEdgeTechnology
Toronto/Canadian-Media: Ontario government's mission to showcase the "Ontario Made" virtual mission to Japan and South Korea that advantage in both automotive manufacturing and leading-edge technology, was successfully completed today.
Vic Fideli. Image credit: Facebook page
“The mission was a fantastic opportunity to connect with our friends and partners across Japan and South Korea and build upon our extensive track record of industrial collaboration and technology partnership,” said Vic Fedeli, Minister of Economic Development, Job Creation and Trade in a news release and added that Ontario being the economic engine of Canada, our ‘Team Ontario’ approach puts our has an opportunity for any company seeking to excel in North America as a leader in manufacturing, zero-emissions vehicles, and advanced technologies.
A delegation of eight Ontario autotech companies showcased their technologies at the Society of Automotive Engineers of Japan (JSAE) conference to decision-makers from the global auto industry and to coordinate business-to-business meetings for the delegate companies, in addition to providing exhibitor space in the virtual Ontario pavilion and market intelligence.
Keynote presentations were delivered by Minister Fedeli at two major events focussng on the global auto industry’s transition to zero-emissions: EV Trend Korea/Interbattery Exhibition 2021 and the Japan auto industry webinar organized by the Canadian Embassy in Tokyo.
Ontario’s Trade and Investment Offices in Seoul and Tokyo, respectively were responsible for Ontario's representation at these events.
The Minister also met with executives in the automotive, artificial intelligence and technology sectors to highlight Ontario’s strengths as an innovation and growth partner and investment location at the heart of North American markets.
Recently announced investments of almost $6 billion in Ontario assembly operations include $4 billion in transformative investments in electric vehicle production.
“Ontario’s unique strengths as a manufacturing hub for electric vehicles and EV batteries, combined with the increased regional content requirements of NAFTA 2.0, make Ontario a value-added destination for automotive and technology investment. With our new Invest Ontario agency, the welcome mat is truly out for companies to quickly become fully integrated into one of the world’s most skilled and dynamic economies,” said Minister Fedeli in the news release.
Gatineau (Quebec)/Canadian-Media: A new ground-breaking legislation was introduced June 22 by Carla Qualtrough, the Minister of Employment, Workforce Development and Disability Inclusion to ensure establishment of a framework for a new Canada Disability Benefit to supplement, not replace, existing federal and provincial-territorial supports with a goal of lifting hundreds of thousands of persons with disabilities out of poverty leaving no one behind.
Carla Qualtrough. Image credit: Facebook page
With the Govt of Canada's recent launch of the Disability Inclusion Action Plan, and in recognition of the leading role that provinces and territories play in providing supports and services to Canadians with disabilities Federal, Provincial and Territorial (FPT) Ministers responsible for Social Services and Disability intend to meet this summer for an initial discussion on the proposed new benefit.
“When the pandemic struck, Canadians with disabilities were hit hard...financial insecurity and hardship. By proposing to create the new Canada Disability Benefit...help people to rebound and to fully participate in all aspects of our society and economy...Canadians with disabilities continue to be at the center of our country’s inclusive recovery,” said Carla Qualtrough in a news release June 22.
#StatisticsCanada; #CanadaInflationRate; #BankOfCanada
Ottawa/IBNS: Canada's inflation rate rose to 3.6 percent in May, the fastest pace in a decade, Statistics Canada said.
Image: Statistics Canada. Image credit: Twitter handle
The current rise in the inflation rate of 3.6, said the economists was higher than their expected rate of 3.5 percent.
In a news release Wednesday, Statistics Canada said that the cost of just about everything is rising at a much faster pace than usual, from shelter and vehicles to food, energy, and consumer goods.
The Bank of Canada is already making ongoing adjustments to its asset purchase program and expects the inflation rate to be around three percent over the summer, but it would ease later this year, then returning toward the bank’s two-percent target.
The increase in year-over-year price growth in May said Statistics Canada was caused by rising prices for housing and passenger vehicles.