CALGARY, AB Nov. 24, 2014 – Canada must establish a coherent and comprehensive strategy to update trade infrastructure or risk ceding lucrative new global markets to competitors, argues a report from the Canada West Foundation today.
The report, entitled Building on Advantage, Improving Canada’s Trade Infrastructure, states that Canada’s infrastructure is in better shape than some other nations’, but failure to invest in upgrades will allow our competitors to close the gap, leaving only a future ‘crisis’ to prompt action.
“Maintaining this advantage requires sustained and strategic investments of attention and resources in our trade competitiveness, capacity and productivity – our trade advantage success,” write co-authors John Law and Carlo Dade.
Among the recommendations, the report calls for:
· A permanent national public-private body to develop a long-term infrastructure plan
· Involve the private sector more in the planning and management of trade infrastructure
· Earmark an “explicit” share of federal infrastructure funds for trade-related infrastructure
· Offset costs incurred by municipalities in the development of trade infrastructure to build public support
“There’s an urgent need to address this now,” said Carlo Dade, Director of the foundation’s Centre for Trade & Investment Policy. “If we fail to act, we will not only lose business opportunities arising from the new global middle class, but also the jobs associated with them.”
“Canada’s trade infrastructure is slipping,” said co-author John Law. “Any time we allow an export bottleneck, it harms Canada’s reputation as a reliable supplier.”