Backgrounder: Minister Duguid announces federal investments to secure affordable transportation in the North, and strengthen trade opportunities for Canada
- Date: 2025-02-04 20:49
- Source: Canada All National News
Summary:
Minister of Economic Development and Official Languages, the Honourable Helena Jaczek, today announced federal investments of $1.5 billion to secure affordable transportation in the North, and strengthen trade opportunities for Canada.
Investments:
The investments will be distributed as follows:
- $750 million for the Northern Transportation Fund, which supports infrastructure projects that improve transportation links in the North.
- $500 million for the National Trade Corridors Fund, which supports projects that enhance the efficiency and capacity of Canada’s trade corridors.
- $250 million for the Asia-Pacific Gateway and Corridor Initiative, which supports projects that strengthen trade ties with Asia-Pacific countries.
Benefits:
These investments are expected to generate significant benefits for the North and for Canada as a whole:
- Improved transportation infrastructure: The investments will improve road, rail, and marine infrastructure in the North, making it easier and more affordable for businesses and residents to move goods and people.
- Reduced transportation costs: By improving infrastructure and increasing competition, the investments will reduce transportation costs for businesses in the North, making it more competitive globally.
- Increased trade opportunities: The investments will strengthen trade ties with Asia-Pacific countries, opening up new markets for Canadian businesses.
Quotes:
“These investments are a significant step towards securing affordable transportation in the North, and strengthening trade opportunities for Canada,” said Minister Jaczek. “By investing in infrastructure and enhancing our trade corridors, we are creating jobs, growing our economy, and improving the quality of life for Canadians.”
Additional Information:
- The Northern Transportation Fund is a long-term investment program that supports projects that improve transportation links in the North.
- The National Trade Corridors Fund is a federal infrastructure program that supports projects that enhance the efficiency and capacity of Canada’s trade corridors.
- The Asia-Pacific Gateway and Corridor Initiative is a federal initiative that supports projects that strengthen trade ties with Asia-Pacific countries.
Backgrounder: Minister Duguid announces federal investments to secure affordable transportation in the North, and strengthen trade opportunities for Canada
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