A new Atlantic trade and investment growth strategy has been unveiled by the federal government.
As part of this approach, the federal and provincial governments will co-ordinate resources and activities to support companies across the Atlantic region looking to grow by selling their products and services in markets around the world.
The new trade and growth strategy aims to double the number of exporters in the Atlantic region by 2025, raise the value of exports, increase the number of exporters selling to more than one market, and attract more foreign investment to the region.
Over the next five years, the federal and provincial governments
will also jointly invest $20 million to provide Atlantic firms with competitive intelligence and market analysis, training and skills development, and in-market engagement activities.
“Atlantic Canadian companies that are globally competitive create wealth here at home. By exporting, they tend to be more innovative, pay higher wages and be more productive, creating more better-paying jobs that strengthen the middle-class and raise the living standards of all Canadians,” said federal Minister of International Trade François-Philippe Champagne.
P.E.I. Premier Wade MacLauchlan pointed to the Island’s success in exports, with growth rates that have been
outpacing the region and parts of the country.
“This new investment will help Prince Edward Island companies get their products to global markets and create good jobs here at home.”
The aim of this regional strategy is to create the most favourable conditions for businesses to compete internationally and attract foreign investments.
Through the Atlantic Growth Strategy, the federal government and the four Atlantic provinces are working together to build a strong economic future for the region by focusing their efforts and resources to stimulate the region’s economy and address both longstanding and emerging regional challenges.