City Regions Hold Key to Unlocking Trade Deal Potential
Canada has been actively pursuing trade and investment agreements to strengthen its economy and foster international partnerships. These deals invite companies to invest, but it's up to Canada's city regions to close the deal by providing a suitable environment for growth.
The federal government is working to diversify the economy through bilateral agreements in areas like defence, clean energy, life sciences, artificial intelligence, and advanced batteries. This effort aims to create real momentum and drive long-term growth and resilience.
However, the success of these deals relies heavily on regional capacity and coordination. Global capital is essential for advancing major infrastructure, energy, and industrial projects, but it's not guaranteed without a strong local presence.
Nokia's $340-million Ottawa expansion, expected to create over 340 jobs, and AstraZeneca's $820-million expansion, which will generate more than 700 highly skilled scientific positions, are examples of investments that have taken root in Canadian city-regions.