Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.
The Government of Canada invests in a study to improve productivity at the Port of St. John's in Newfoundland and LabradorFriday, May 18, 2018 > 12:45:04
The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors are key to the success of Canadian firms in the global marketplace. The Government of Canada supports infrastructure projects that create quality middle-class jobs and boost economic growth.
Today, the Honourable Seamus O'Regan, Minister of Veterans Affairs and Member of Parliament for St. John's South—Mount Pearl, on behalf of the Honourable Marc Garneau, Minister of Transport, announced an investment of $175,000 for a study to ensure the port continues to meet the emerging and growing needs of port users. St. John's Port Authority, working with an external contractor, will look for ways to expand port operations by addressing increased congestion and capacity limitations.
The Government of Canada is supporting infrastructure projects that contribute most to Canada's continued success in international trade. For example, projects being funded will:
- support economic activity and the physical movement of goods or people in Canada;
- help the transportation system withstand the effects of climate change and make sure it is able to support new technologies and innovation;
- address transportation bottlenecks and congestion along Canada's trade corridors; and
- increase the fluidity of Canadian trade around the world through our ports, airports, roads, railways, intermodal facilities, bridges and border crossings.
Provincial, territorial and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, federal Crown Corporations, Canadian Port Authorities, and National Airport System Airport Authorities are all eligible for funding under the National Trade Corridors Fund.
"St. John's lies at the heart of trade corridors. We offer products that few places can match and understand the importance of transportation and the distribution of goods to our economy. This investment and study announced today will strengthen our transportation system and enhance the long-term prosperity of our community by looking at ways to improve efficiency at the Port of St. John's."
The Honourable Seamus O'Regan
Minister of Veterans Affairs and Member of Parliament for St. John's South—Mount Pearl
"Our government is investing in Canada's economy by making improvements to our trade and transportation corridors. We are supporting projects that will efficiently move commercial goods to market and people to their destinations, stimulate economic growth, create quality middle-class jobs, and ensure that Canada's transportation networks remain competitive and efficient."
The Honourable Marc Garneau
Minister of Transport
"I am pleased that this important study is going ahead. The Port of St. John's is a strategic economic gateway and ensuring that we address transportation bottlenecks and develop strategies to minimize congestion is vital to fostering long-term prosperity in our community".
President and CEO of St. John's Port Authority
Transportation is an important element of Canada's trade with other countries. In 2017, total international merchandise trade amounted to $1.1 trillion. The United States continued to be Canada's top trade partner, with $703 billion in trade ($415 billion exported, $288 billion imported), accounting for 63.5 per cent of total Canadian trade in 2017.
The Government of Canada places a strong emphasis on exports because of the connection between trade and good, well-paying jobs, as industries that are export-intensive pay wages that are, on average, more than 50 per cent higher than industries that are not.