VANCOUVER, BC, Dec. 10, 2021 /CNW/ – The Government of Canada is committed to strengthening Canada’s trade corridors, which support our supply chains, help grow our economy, ensure its recovery, as well as create good, middle-class jobs.
Today, the Minister of Transport, the Honourable Omar Alghabra, announced $8.7M in funding for four new projects under the National Trade Corridors Fund, which will help to improve operational efficiencies at one of Canada’s major export gateways.
Under the National Trade Corridors Fund, the Government of Canada will contribute $7.4M to three projects to be undertaken by the Vancouver Fraser Port Authority:
The development and implementation of technology to improve the management of containers flagged for inspection, which will increase efficiency and reduce operating costs in the Pacific Gateway.
An engineering study for capacity improvements along a segment of rail that links Canadian Pacific’s intermodal and rail yards in Metro Vancouver with grain and container terminals in the Port of Vancouver’s South Shore Trade Area.
Funding to support ongoing work of the Gateway Transportation Collaboration Forum Secretariat, which brings together a number of governmental and private organizations to identify gateway infrastructure priorities in Metro Vancouver.
The Government of Canada is also investing $1.3M in an additional technology and innovation project:
The development of a digital platform for sourcing and managing empty shipping containers. This project, to be undertaken by TSC Trakking Software Corporation, will improve container management, reduce costs for Canadian importers and exporters, and reduce greenhouse gases due to congestion in Metro Vancouver and potentially other Canadian cities.
Through the National Trade Corridors Fund, the Government of Canada is investing in well-functioning trade corridors to help Canadians compete in key global markets, trade more efficiently with international partners, and to keep Canadian supply chains competitive. It represents a long-term commitment by the Government of Canada to work with stakeholders on strategic infrastructure projects to address transportation bottlenecks, vulnerabilities, and congestion along Canada’s trade corridors.
“With this investment, we can make real headway in improving the flow of goods and container traffic through the Port of Vancouver and support the work of an organization that is helping to grow trade volumes at the port. The investment strongly supports and strengthens supply chains in the Lower Mainland, which has recently been affected by extreme weather challenges.”
The Honourable Omar Alghabra
Minister of Transport
“The events of the last few weeks have highlighted the critical role supply chains and trade corridors play in ensuring a reliable food supply for Canadians. This significant investment into the Port of Vancouver helps to keep our supply chain running smoothly and support the continued recovery of our agriculture and agri-food sector across impacted regions.”
The Honourable Marie-Claude Bibeau
Minister of Agriculture and Agri-Food
- An efficient and reliable transportation network is key to Canada’s economic growth. The Government of Canada, through the National Trade Corridors Fund, is making investments that will support the flow of goods across Canada’s supply chains.
- Transport Canada delivers the National Trade Corridors Fund, which supports improvements to Canada’s roads, rail, air and marine shipping routes to foster domestic and international trade.
- Provincial, territorial, and municipal governments, Indigenous groups, not-for-profit and for-profit private-sector organizations, federal Crown corporations, and academia are all eligible for funding under the National Trade Corridors Fund.
- The National Trade Corridors Fund is a competitive, merit-based program designed to help infrastructure owners and users invest in the critical transportation assets that support economic activity in Canada. A total of $4.2 billion over 11 years (2017-2028) has been allocated for the National Trade Corridors Fund, including over $1 billion in dedicated funding for building and improving transportation networks in Canada’s Arctic and northern regions.
National Trade Corridors Fund Backgrounder
Investing in Canada Plan
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SOURCE Transport Canada