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Innovation Minister Navdeep BainsTORONTO - Canada is working closely with automakers to boost financial investment on the market, Innovation Minister Navdeep Bains said on Monday, welcoming an agreement between Canada's Unifor union and General Motors Co.(GM.N)

"We're presently working closely utilizing the automakers to make sure that we check methods to bring investment and I'm really pleased to hear towards contract between GM and Unifor. That's a rather good development, " he told reporters.

Unifor, which presents significantly more than 20, 000 Canadian autoworkers, on Sunday ratified a handle General Motors which will see $554 million purchased neighborhood flowers.

Additionally, it is finding your way through talks over similar deals with Fiat Chrysler Automobiles NV and Ford Motor Co.

GM spokesman Tom Wickham said on Sunday the company is working toward "potential support agreements" with national and provincial governments.

Bains stated the government is talking-to GM about encouraging its Canadian investments and needs to provide further details "in the coming months and months".

"we numerous tools in our toolbox and also the idea is for us to engage with them to improve investment, " Bains stated.

Canada's federal government said with its 2016 budget that it would increase the country's Automotive Innovation Fund, which makes use of federal government funds to encourage business financial investment.

The federal government recently consented to offer automakers funds without loans, which assisted both sides get to a deal, according to a source right involved in the speaks. Bains declined to comment on the give situation.



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