Mr. Speaker, it is a great pleasure to rise in the House today to talk about Bill C-24, which will implement Canada's obligations under the softwood lumber agreement. I ask all members of the House to recognize and support this bill.
Clearly, this softwood lumber agreement is good for industry, good for lumber communities and good for Canada. The previous member spoke about examples within his riding that speak volumes to how good a deal this is and how it will support local industry. It eliminates punitive U.S. duties. It ends costly litigation which has gone on for far too long.
I have listened to many members in the House during this debate talk about how close we were to an agreement, that with one more judge's ruling we would have it beat. My argument to that is that I have met lawyers whose entire careers have been based on negotiating softwood lumber.
Under this agreement the U.S. will immediately dismiss all trade actions against our companies. It takes our lumber producers out of the courts and puts them back where they belong, in communities across this country, growing their enterprises and contributing to Canada's economy.
It provides stability for an industry hit hard by years of trade action and drawn out litigation. For the next seven to nine years no border measures will be imposed when lumber prices are above $355 per thousand board feet.
When prices drop below this threshold, the agreement gives provinces the flexibility to choose the border measures most beneficial to their economic situation. I should add that all export charge revenues collected by the Government of Canada through these border measures will stay in Canada, in direct contrast to what these lumber companies have been facing up until now.
The agreement returns more than $4.4 billion U.S., a significant infusion of capital for the lumber industry and the workers and communities that rely on it. We have even developed a unique deposits mechanism to ensure that lumber companies receive their money as quickly as possible, within four to eight weeks of filling out and returning the necessary legal and administrative documents after the agreement enters into force.
This is an agreement to be proud of. It is a practical and flexible agreement that ends this long-standing dispute on terms that are highly favourable to Canada. Moreover, it directly responds to the specific issues and concerns raised by industry and the provinces. For instance, it recognizes provincial market based reforms and preserves provincial authority to manage their forest resources as they see fit.
It also excludes from border measures the Atlantic provinces and the territories and 32 companies, including Quebec border mills that were found by the U.S. Department of Commerce not to be subsidized. It ensures that independent lumber remanufacturers do not have to pay an export charge on the value added component of their products. It establishes a process for Canada and the U.S., in consultation with the provinces, to determine the steps regions can take to qualify for exemption from the border measures.
I am pleased to say that the agreement has the support of two national governments and all the key lumber producing provinces, as well as an overwhelming majority of industry players. The next step belongs to parliamentarians.
Bill C-24 will implement Canada's commitments under this agreement. In particular, it provides authority to impose export charges when lumber prices are below $355 per thousand board feet and it gives provinces the flexibility they need to choose the right border option for their economic situation.
The bill also seeks to amend parts of the Export and Import Permits Act to bring into operation the mechanisms we need to meet our commitments under the agreement.
I am happy to be part of a government that has done, in short order, what no other government could: put an end to this dispute and start directing our full attention to building a stronger, more competitive North America. I would ask all members of the House to join me in supporting this bill and putting this dispute behind us.