Canada's nine largest chambers of commerce tried to send locally-produce goods to each other, but the efforts failed because inter-provincial trade barriers prevent these types of transactions from taking place.
Opening this trade up to allow a freer flow within the nation could help speed up Canada's recovery from the COVID-19 pandemic, according to a press release from Toronto Region Board of Trade. The Canadian Global Cities Council (CGCC) highlighted the ways relaxed regulations would do just that in videos on social media.
More than $80 billion each year is lost because of these barriers, CEOs of the nine chambers of commerce said. Internal trade also adds approximately 7% to the cost of the goods. Nine out of10 Canadians support inter-provincial trade, the press release said.
“For decades, Canada has been a champion for global free trade and international partnerships – but it’s time we make ourselves a priority too,” Jan De Silva, president and CEO of the Toronto Region Board of Trade, said in the press release. “For instance, Canada’s inter-provincial trade barriers prevent many businesses from building relationships with domestic partners. The fact that it’s easier to do business with Texas than Alberta just doesn’t make sense – not to our business members and not for our economy.”
The nation's government is trying to reduce regulations to promote recovery and stimulate the economy after the COVID-19 pandemic. In order to do this, inter-provincial trade must have relaxed barriers, advocates say.
“Removing red tape that prevents inter-provincial trade is a great way for Premiers to accelerate economic recovery,” Todd Letts, CEO of the Brampton Board of Trade, said in the press release. “Now is the best time for leadership that lowers costs, boosts competitiveness and attracts new investment across our country.”