Technology trade vital, North Dakota official says
Provides both jurisdictions with a counter to volatile commodity prices
A free flow of ideas and technology between Saskatchewan and North Dakota will fortify both jurisdictions’ economies against volatile commodity prices while boosting their trade relationship, according to the Peace Garden State’s lieutenant-governor.
“The commodity prices, they’re going to vacillate over time, and that’s to be expected,” Drew Wrigley said after addressing the Saskatchewan U.S.A. Trade Summit held Wednesday in Saskatoon. “But you do get a steadier flow when it comes to the technology, plus the technology piece enhances your performance in the commodities.”
Wrigley, a former United States Attorney for North Dakota, was elected alongside governor Jack Dalrymple in 2010. As lieutenantgovernor — a position different from that of Canadian lieutenantgovernors — his responsibilities include presiding over the state’s senate and leading its trade office.
Despite having similar resource-and agriculture-based economies, Saskatchewan and North Dakota can benefit from “cross-pollination” in the high-tech and valueadded sectors, Wrigley said. At the same time, it’s important to remove obstacles, such as border difficulties, that hamper trade between Canada and the U.S., he added.
“Protectionism, at the end of the day, isn’t really protectionism at all. It’s harmful to the economy, local and otherwise.”
Saskatchewan exported about $35 billion worth of goods and services in 2014, of which $22 billion flowed into the U.S., meaning the province’s trade relationship with states like North Dakota is vital, said Chris Dekker, president and CEO of the Saskatchewan Trade and Export Partnership.
“We should always maintain that relationship with our biggest customer, and with the growing economy in the United States and a favourable exchange rate, let’s talk about how we can enhance that,” Dekker said.
Although the province relies heavily on resources such as uranium, potash and oil and gas, as well as agriculture, emerging sectors like manufacturing and technology can compensate for falling resource revenues, Dekker said.
“All of that is growing, and growing exponentially,” he said. “We have to keep that going, and keep that growth going, so that if (the resource sector) ever crumbles to the point that is going to cause us major concerns, those things take up the slack.”
Saskatchewan exported about $35 billion worth of goods and services in 2014, of which $22 billion flowed into the U.S.