It is time to unleash Canada’s economic potential

VANCOUVER, B.C. — The Greater Vancouver Board of Trade (GVBOT) has released its latest report, Unleashing local trade & production within Canada, as an integral pillar to achieve The 3% Challenge - Agenda for Economic Growth.

The threat of tariffs leveled by President Trump has created a unique window of opportunity to get our house in order, strengthen our national economy, and unlock Canada’s entrepreneurial spirit by eliminating interprovincial trade barriers and enhancing east-west trade corridors.

Economic growth is the key to prosperity and affordability. Removing internal trade barriers could increase B.C.’s GDP by $7.6 billion and generate an additional $1.7 billion in government revenues.

To drive economic growth and enhance Canada’s real GDP potential, GVBOT urges federal and provincial governments to:
1. Commit to national mutual recognition on all items, including services and labour.
2. Ensure all products that can be sold in one province can be sold across Canada.
3. Open direct-to-consumer beer and alcohol sales nationally.
4. A commitment by Premiers to not implement non-tariff barriers for inter-provincial infrastructure projects.
5. Mitigate regulatory complexities to enhance business competitiveness.

“Removing internal trade barriers will lower costs for Canadian businesses, boost competitiveness and attract both domestic and foreign investment” said Bridgitte Anderson, President and CEO of the Greater Vancouver Board of Trade. “It could increase our national real GDP by 3.8%, translating to a $2,130 increase per person and a higher quality of life for all Canadians, transforming Canada into a true free trade jurisdiction.”

While Section 121 of the Constitution Act, 1867 was intended to support free interprovincial trade, the division of powers has led to a patchwork of regulations that hinder economic growth. For decades, despite commitments from governments across the political spectrum, internal trade barriers remain widespread, creating inefficiencies and unnecessary costs for businesses and consumers, and limiting economic growth.

“We cannot continue to kick this can down the road,” added Anderson. “We must take action on the issues within our control and ready ourselves to respond to external challenges from a position of strength.”

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About the Greater Vancouver Board of Trade:
Since its inception in 1887, the Greater Vancouver Board of Trade has been recognized as Western Canada's leading business association, engaging our members to inform public policy at all levels of government and empowering them to succeed and prosper in the global economy. With a Membership whose employees comprise one-third of B.C.'s workforce, we are the largest business association between Victoria and Toronto. We leverage this collective strength, facilitating networking opportunities, and providing professional development through unique programs. In addition, we operate one of the largest events platforms in the country, providing a stage for national and international thought leaders to enlighten B.C.'s business leaders.

Media contact:
Federico Cerani
Communications Manager
Greater Vancouver Board of Trade
604-640-5450 | media@boardoftrade.com