Atlantic Provinces Unite for Economic Growth

Business leaders in Eastern Canada are calling for a 'single economy' to boost economic output and address challenges facing the region. Atlantic Canada's gross domestic product growth has underperformed compared to the national GDP by one percent annually over three decades, according to Mills.

The panel's report recommends creating a 'One Atlantic Canada' agenda to bring provinces together as one economy for its 2.7 million residents. Each province would remove trade and labour mobility barriers, present major investment opportunities through a single platform, and deliver half of all infrastructure projects through regional partnerships.

Other key recommendations include a workforce strategy to recognize workers' credentials across the region, an integrated electricity system managed by a region-wide independent system operator, and increasing exports to Europe. The report also suggests creating a $1-billion private sector Atlantic Prosperity Fund and mobilizing $100 billion in new investment to boost the natural resource economy.

New Brunswick Premier Susan Holt emphasized that collaboration is not about forcing each province to be the same, but rather working together based on shared 'Atlantic values'. She highlighted the recent agreement between New Brunswick, Nova Scotia, and P.E.I. to work together on meeting future energy needs and the importance of expanding exports to Europe.