There’s a growing drive for Canada to expand its market access beyond a single trading partner. The reason is our restricted ability to reach more than a single U.S. market.
It’s been the case for decades. The result is that every Canadian pays a price in the form of a weaker economy, fewer jobs, fewer publicly-funded services and less reliable trade.
Now a group of Canadian Premiers is calling for swift and immediate action with some key steps to ensure a more diverse export market and a more prosperous future for Canadian families.
Their message is straightforward: It’s time to build up Canada. That entails:
- Expediting new pipelines, power lines, ports, railways and roads to control our own economic destiny and to diversify our markets.
- Reducing regulatory burdens and attracting new capital investment for our natural resource sectors.
- Recognizing the value of our resource economy.
Natural resources fuel 21 per cent of our economy, 45 per cent of manufacturing, and they provide some three million jobs. This generates tens of billions in government revenues that support vital social programs like healthcare, education and emergency services.
Meanwhile, three quarters of Canada’s exports are destined for U.S. markets, making our economy highly reliant on a single trading partner. If we were to foster new trading partnerships with other nations abroad, we could reduce this dependency and thereby insulate Canada’s economy from tariffs.
According to Alberta Premier Danielle Smith, provinces need to act quickly if they’re to be successful at launching this important rebuilding.
“Now’s the time for us to unite as a province and a country. We must do everything in our collective power to immediately tear down provincial trade barriers and fast-track the construction of dozens of resource projects, from pipelines to LNG facilities to critical minerals projects,” Premier Smith said recently.
Smith stresses the importance of strengthening Canada’s trade ties with Europe, Asia and the Americas “for all our energy, agricultural and manufactured products.”
In addition to Premier Smith, those Premiers who back the new initiative include B.C.’s David Eby, Ontario’s Doug Ford, Quebec’s Francois Legault, Nova Scotia’s Tim Houston, Manitoba’s Wab Kinew, Saskatchewan’s Scott Moe and Andrew Furey of Newfoundland & Labrador.
From my own perspective as a long-time observer and advocate, I continue to believe our nation is so fortunate to have been endowed with abundant natural resources, to have access to Asia, America and Europe together with a productive labour force.
But now is the time for all of us to stand behind Canadian energy, mining, forestry and food workers to help build Canada up.
The sooner we diversify our export markets, recognize resources form the foundation of Canada’s economy, and reduce regulatory barriers to attract investment, then the sooner we can develop our vast wealth of energy, forestry, mining and agriculture resources.
Cody Battershill is a Calgary realtor and founder/spokesperson for CanadaAction.ca, a volunteer-initiated group that supports Canadian energy development and the environmental, social and economic benefits that come with it.
