Bloomberg News

Paradis Says Canada Shouldn’t Compete on Weak Currency

October 17, 2012

Canadian manufacturers should take advantage of the increased purchasing power from a strong currency to grow their businesses, Industry Minister Christian Paradis said.

“Canadian manufacturers know that competitiveness based on a low dollar is artificial,” Paradis said in the text of a speech he’s giving today in Hamilton, Ontario. “A high dollar brings challenges but it also brings new opportunities, new purchasing power, and – played right – a strategic advantage.”

To contact the reporter on this story: Katia Dmitrieva in Toronto at edmitrieva1@bloomberg.net

To contact the editor responsible for this story: Greg Quinn at gquinn1@bloomberg.net


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