Agreements signed to reduce interprovincial trade barriers
Leaders say the agreements will cut costs for businesses, open new opportunities for workers and connect markets.
Key Takeaways:
- Ontario has signed memorandums of understanding with British Columbia and the three territories to reduce trade barriers, streamline labour mobility and boost interprovincial commerce.
- The deals make Ontario the first province to secure internal trade agreements with 10 provinces and territories, building on legislation to strengthen cross-country commerce and resist U.S. trade pressures.
- Leaders say the agreements will cut costs for businesses, open new opportunities for workers and connect northern and western markets more closely to the rest of Canada’s economy.
The Whole Story:
Ontario has signed new agreements with British Columbia and Canada’s three territories to reduce trade barriers, improve labour mobility and strengthen economic cooperation, Premier Doug Ford announced Monday.
The two memorandums of understanding, signed alongside B.C. Premier David Eby, Yukon Premier Mike Pemberton, Northwest Territories Premier R.J. Simpson and Nunavut Premier P.J. Akeeagok, are aimed at cutting red tape, lowering business costs and creating freer movement for skilled workers.
“With President Trump’s ongoing threats to our economy, there’s never been a more important time to boost internal trade to build a more competitive, resilient and self-reliant economy,” Ford said. “By signing these MOUs and working together, we’re helping Canada unlock up to $200 billion in economic potential and standing shoulder to shoulder to protect Canadian workers across the country.”
The agreements make Ontario the first province to secure internal trade deals with 10 provinces and territories. The government says the deals build on its recent Protect Ontario Through Free Trade Within Canada Act, which reinforces the province’s ability to expand cross-country commerce and shield its economy from U.S. trade actions. Ontario remains the only jurisdiction to eliminate all party-specific exceptions under the Canadian Free Trade Agreement.
Eby said the B.C. agreement would benefit more than half of Canada’s population by opening economic pathways between the provinces, while the three northern premiers highlighted opportunities for greater connectivity, streamlined certification and new business prospects across the territories.
Ford is hosting Canada’s premiers and their delegations this week for the Council of the Federation’s summer meeting in Toronto.
