BRAMPTON, Ontario — Canadian government officials today have announced the creation of two trade infrastructure funds, backed by Ca$6 billion over seven years allotted, that the government says will double the nation’s non-U.S. exports and create access to new global markets.
In an event at Canadian National Railway’s Brampton intermodal terminal, Transport Minister Steven MacKinnon and International Trade Minister Manider Sidhu said the funds could help generate $300 billion in exports. The funds will be delivered by Transport Canada, in partnership with the Canada Infrastructure Bank, Crown-Indigenous Relations and Northern Affairs Canada, the Canadian Northern Economic Development Agency, and National Defence.
“These infrastructure investments will create skilled, well-paid jobs, strengthen regional economies, and help Canadian businesses get their goods to new markets,” MacKinnon said in a press release. “They’re smart, strategic commitments to Canada’s long-term economic resilience and sovereignty.” Said Sidhu, “By expanding our export capacity and building modern trade corridors, we’re connecting Canadian businesses to fast-growing and reliable global markets. It strengthens the routes that move our critical minerals, clean technologies, agri-food, and manufactured goods, ensuring Canadian products reach the world faster and more competitively — while advancing our climate goals and delivering real economic growth at home.”
The Ca$5 billion Trade Diversification Corridors is intended to improve ports, railways, and roads, while the Ca$1 billion Arctic Infrastructure Fund will support dual-use (civilian and military) transportation projects.
“I can tell you there is a ton of interest out there,” MacKinnon told the Canadian Press, saying the government will outline criteria for the funds and the procedure for proposals in the next few weeks. “We’re going to be building trade-enabling infrastructure all over the country over the next seven years.” Sidhu said details of the government’s trade-diversification plan will be “coming very soon.”
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