Ontario Moves Forward with New Strategy for U.S. TradePublished on February 07, 2020
Strategic Economic Agreements to Create Opportunities and Jobs for Ontario
On February 7, 2020, Ontario Premier Doug Ford unveiled an important pillar in the government's new U.S. trade strategy that will create more opportunities and jobs on both sides of the border.
As part of the government's new trade engagement strategy, Ontario will pursue Strategic Investment and Procurement Agreements (SIPAs) with U.S. states which, if signed, will give businesses improved access to government procurement opportunities and further promote two-way investment. Ontario is continuing its discussions with Ohio and other states on a potential agreement that will make it easier for businesses in the province and the states to do business with one another.
"With this bold strategy for trade with the U.S., we are delivering on our promise to further open up trade and create jobs for the hardworking people of Ontario and for our neighbours to the south," said Premier Ford. "Anti-trade policies negatively impact businesses and jobs in Ontario and the United States. By pursuing these new strategic agreements, we can build on our strong partnerships and unlock tremendous mutual economic potential."
Premier Ford and Vic Fedeli, Minister of Economic Development, Job Creation and Trade, will discuss the trade strategy at a roundtable hosted by the Canadian American Business Council in Washington, D.C. If finalized, these agreements would create opportunities for businesses in a wide range of sectors and deliver real improvements in market access, job creation and investment.
"Our government must help make it easier for Ontario businesses to compete and succeed globally," said Minister Fedeli. "Open and competitive contracting benefits businesses on both sides of the border. That's the message we brought to Washington, and that's the message we'll continue to bring to our American partners."
"Ontario is the largest province in Canada and has the largest government procurement market in the country after the federal government," said Premier Ford. "Our new approach to trade engagement would create significant job creation and investment opportunities for businesses in Ontario, and in the United States."
- Ontario and the U.S. conducted about CAD$390 billion in two-way trade in 2018.
- Ontario is the #1 trading partner with 19 states and the 2nd largest trading partner with nine others.
- Nearly 1 in 5 jobs in Ontario depend on trade. With over 1.3 million jobs supported by exports, Ontario’s jobs are the most export-reliant across Canada.