Canada finance minister says Suncor deal important

OTTAWA, March 24 (Reuters) - Canadian Finance Minister Jim Flaherty said on Tuesday Suncor Energy's (SU.TO) proposed takeover of Petro-Canada PCA.TO is an important deal for Canada and for the oil industry.

Speaking to CTV television, Flaherty said it was a "good thing" that regulators were reviewing the deal to ensure fair competition in the oil industry, but added that, "We believe in investment as well in this country. We want to grow this economy."

Suncor has agreed to acquire Petro-Canada for C$18.43 billion ($14.9 billion) to create Canada's largest oil company. ($1=$1.22 Canadian) (Reporting by Louise Egan)