Mr. Speaker, I would like to begin by thanking my colleague.
This government absolutely believes in Alberta. There are many opportunities and jobs there. We approved three pipelines in Alberta, and that is a very good thing for Albertans.
I am pleased to respond to the comment made by the hon. member for Peace River—Westlock about the recent announcement of a strategic partnership between Bombardier and Airbus.
Canada is one of the largest aerospace manufacturing countries in the world. This industry contributes over $28 billion to our GDP and accounts for over 200,000 jobs in every part of the country.
As Canada's aerospace anchor firm, Bombardier is responsible for approximately one-third of Canadian aerospace manufacturing GDP, and has been Canada's top manufacturing R and D spender since 2012.
The proposed partnership by Bombardier with Airbus combines innovation with increased market access for a state-of-the-art Canadian plane that is world class. On the surface, we think it is a very positive step. Airbus and Bombardier's proposed partnership presents an opportunity to increase the ability of the C Series to access markets, meaning more production and more jobs right here in Canada, including in Alberta.
I can say further to the hon. member for Peace River—Westlock that any potential investment requires review by the minister of ISED under the Investment Canada Act to ensure that it will be of overall economic benefit to Canada, and the approval of competition authorities. Our government has been clear from the beginning that any strategic partnership between Bombardier and Airbus would be expected to bring measurable benefits to Canada, and strengthen ties between the Canadian and European aerospace industries.
In reviewing the proposed strategic partnership under the Investment Canada Act, the minister will consider the following factors, among others: the effect on the level of economic activity in Canada, including the utilization of parts and services produced in Canada; the degree and significance of participation by Canadians in the Canadian business; the effect of the investment on productivity, industrial efficiency, technological development, product innovation, and product variety in Canada; the effect of the investment on competition within any industry in Canada; the compatibility of the investment with national industrial, economic, and cultural policies; and, finally, the contribution of the investment to Canada's ability to compete in world markets.
It is through these specific factors that the government will ensure that the proposed strategic partnership between Airbus and Bombardier brings concrete, measurable benefits to Canada and Canadians.
Bombardier is, and will remain, an anchor firm for the aerospace sector for Canada moving forward, and we will continue to seek to grow and promote Canada's world-class supply chain in the global industry.