Alberta businesses, investors and workers will have easier and increased access to Canada-wide markets, including government tenders in other provinces and territorities, under the new Canadian Free Trade Agreement (CFTA).
Companies and workers from other provinces and territories have long benefited from Alberta’s open markets. The new agreement brings other Canadian jurisdictions in line with Alberta standards, levelling the playing field for Alberta businesses.
“The CFTA is a good deal for Alberta, and we look forward to its implementation. By creating a more open and stable domestic marketplace, we are improving opportunities for Alberta businesses, allowing them to innovate, grow and create jobs.”
Signed earlier today by federal, provincial and territorial trade ministers, the new CFTA establishes a comprehensive framework for internal trade that makes Canada’s domestic market more modern and competitive for all Canadians.
It provides a clear set of trade rules and resolution processes that will make it easier for Alberta businesses to access opportunities from coast to coast to coast. It also includes plans for a single-access web portal for all provincial, territorial and federal government tenders.
“Alberta’s small businesses have a bigger economic impact than small businesses anywhere else in the country. That’s why our focus is to make it even easier for our businesses to get their world-class products and services to Canadian markets as we work together to diversify our economy, create jobs and make life better for Alberta families.”
While simplifying market access across the country for local companies and workers, Alberta officials also worked to ensure fair treatment of Albertans at home. That included negotiating policy flexibility to allow the government to pursue priorities such as investments in renewable and alternative energy and local economic development.
The CFTA will come into effect on Canada’s 150th birthday, on July 1, 2017. It replaces the existing Agreement on Internal Trade (AIT) that has been in force since 1995. Alberta has been a signatory to the AIT for the past 22 years and actively participated in the CFTA negotiations.
Alberta exports to the rest of Canada totalled $63 billion in 2015.