BCBC Statement on Canada-British Columbia Cooperative Prosperity Agreement

Today, the federal government signed a cooperative prosperity partnership with the Government of B.C. This agreement creates momentum around Canada’s ambition to build a stronger economy. It signals that the provincial and federal governments are aligned, improving the odds that major projects move from announcement to construction. 

Here are three reasons we believe this agreement is good for British Columbia and Canada: 

1. Jobs, incomes, and public services 
   These projects support new career opportunities, conditions for people to earn higher wages, and government revenue to fund the key social services British Columbians and Canadians rely on.  

2. A “Team Canada” approach 
   Collaboration between the federal and provincial governments is essential to advancing major projects. It signals to international investors that Canada is open to business.  

3. Trade diversification 
   Investment in ports, transportation corridors, and other trade-enabling infrastructure improves Canada’s ability to ship our natural resources and products to non-U.S. markets. 

“With this week’s decision by the U.S. to forgo an extension of CUSMA, the message to Canada is clear: we must secure our own economic future,” said Laura Jones, President & CEO of the Business Council of B.C. “The Premier has been telling the Prime Minister to look west. Today’s announcement shows that he is listening, and that is great news for all Canadians. I hope every July 2 becomes ‘Canada Strong Day.’” 

While this agreement is an important step, much more will be needed if Canada is serious about rebooting its economy and becoming the strongest in the G7. Moving forward, governments should use the lessons learned here to apply to projects of all sizes across the broader economy.