Strong Canadian economy depends on sustainable infrastructure: CCA
November 26, 2014 by STAFF REPORT
The Canadian Construction Association (CCA) applauded the release of a new Canada West Foundation report that reinforced the link between a healthy Canadian economy and reliable infrastructure.
According to the CAC, the Building on Advantage: Improving Canada’s Trade Infrastructure report emphasizes the ongoing need for sustainable and strategic investment in the country’s trade-related infrastructure.
It also showcases that Canada’s current infrastructure assets have served the country well so far, but have seen a steady decline in world rankings. In the 2010 World Economic Forum’s Competitiveness Index, Canada’s infrastructure assets were ranked in ninth place. By 2014, Canada had fallen to 19th place, and behind the U.S.
The report makes several recommendations in order to initiate action on trade-related infrastructure. These include: carving out an explicit portion of existing federal infrastructure funds for trade-related infrastructure, introducing a focus on innovation in the procurement of trade infrastructure projects, and establishing a national public-private body that would develop a long-term investment plan linked to the country’s trade agenda and priorities.
“Canadian commodity sectors rely on the ability to move goods quickly and efficiently, particularly if those sectors are to meet increasing demand from lucrative new global markets,” said Michael Atkinson, CCA’s president.
“This report from the Canada West Foundation highlights that a failure to address our country’s infrastructure needs has the potential to lead to future crisis. Without strategic investment in our trade-related infrastructure, Canada may miss out on the tremendous economic opportunities available to us.”