Alberta-Ottawa MOU Pushes B.C. to be More Competitive

Originally Published by Bridgitte Anderson, President & CEO of the Greater Vancouver Board of Trade. 

The Memorandum of Understanding (MOU) between Alberta and Canada has signalled a new era of cooperation and a shift in how the federal government views energy development considering the need for trade diversification. There has been much debate over how the B.C. government, and British Columbians view these developments and what it might mean for us. 

The MOU came on the heels of another significant announcement, the signing of the Canadian Mutual Recognition Agreement. This landmark agreement, led by the B.C. government, reduces barriers to the sale of goods across Canada by ensuring that a product that may be lawfully sold in one province or territory may be sold across Canada without having to meet further requirements. While there is still more work to be done on services, food products, and alcohol, this agreement is a significant and meaningful step towards free trade in Canada, something the GVBOT has long advocated for. That is why I was so pleased to take part in the news conference and signing ceremony. 

B.C. is facing myriad challenges including a grim fiscal outlook, slower growth due to the trade war, and the global fight for capital is very challenging. If the government wants investors to Look West, it needs to consider all of the signals it sends. It cannot approve or support a small number of projects and believe that all will be well. We need to set the table in a way that draws investment in and ensures that we can build and grow to the future. 

Whether or not a new pipeline gets built will still depend on a multitude of factors, but what is certain is that to become the economic engine of the nation the provincial government needs to embrace competitiveness in all its policies, support major project development, and make our province a place where companies want to invest.