Earlier this month, Foreign Affairs and International Trade Canada (FAITC) announced the implementation of a new import system for steel and steel products.

As a result of these changes Canadian manufacturers, producers, distributors and purchasers of imported steel and steel products are no longer be required to obtain individual permits. Instead, general import permits (GIP) will be used for all steel imports covered by the Federal Import Control List.

The government estimates the new the new border measure will eliminate the need for some 270,000 permits annually and save Canadian steel companies $10 million a year.

“These new measures to streamline regulations and reduce the cost of import permits help improve the efficiency of North American supply chains and enhance manufacturing competitiveness in Canada,” said Ron Watkins, President of the Canadian Steel Producers Association (CSPA). “We have advocated for such measures through the North American Steel Trade Committee and we welcome this change.”

According to the CSPA, Canada’s $14-billion steel industry generates 25,000 jobs in Canada directly and supports a further 100,000 jobs indirectly. Exports account for over one half of shipments, with imports of steel and steel products totalling $8.5 billion in 2010. An estimated three quarters of all manufactured goods contain steel, the most widely used metal and the most recycled material on earth. In 2011, Canada’s steel industry recycled seven million tonnes of steel.