On the Friday before Labour Day, Industry Canada, Business Development Bank of Canada (BDC) and APMA announced the Purchase Order Financing Program (full details are in this newsletter). Under this program, BDC will finance short-term working capital on the basis of purchase orders and releases. This will allow suppliers to finance raw material purchases, etc. as the demand for their product increases, but before accounts receivables are created. Discussions on this financing began at the APMA Annual Conference in May. APMA and BDC worked intensely on this financing initiative through the summer and APMA will continue to work with BDC in administering the program.

APMA has expended considerable time, effort and funds to implement programs that efficiently assist automotive parts suppliers through the worst recession since WWII. The first two programs were ensuring suppliers were paid in the normal course and that the accounts receivable insurance for GM and Chrysler continued while their viability was still uncertain. All this has come to pass and APMA applauds government for their actions to assist. Governments will be repaid with increased tax revenue when the economy recovers and has helped ensure the sustainability of the automotive parts sector.

Another win for vehicle suppliers was China's recent announcement to reduce tariffs on vehicle parts from 25% to 10%. This was a result of the Canada/EU/USA Challenge at the WTO. APMA worked with the Federal Department of Foreign Affairs and International Trade to formulate Canada's position and marshal the evidence. In May the WTO ruled in our favour and the tariffs are now reduced.

I ask you to note all that APMA has done for our industry's sustainability. It is imperative that your industry association be sustained without which, none of this would have occurred. Even in these difficult times each company must find the resources to do their part to support their industry association-your collective Voice. Please ensure you pay you membership dues. To our non-member colleagues, I ask you to become members of this vibrant association.