The Association of Equipment Manufacturers (AEM) is endorsing the recently passed Bill C-5, the One Canadian Economy Act.
This legislation aims to create a stronger, more united Canada by boosting productivity, economic growth and competitiveness.
The One Canadian Economy Act received Royal Assent on June 26.
“The Association of Equipment Manufacturers welcomes the Senate’s passage of Bill C-5, a bold and necessary initiative to foster nation-building infrastructure and reduce interprovincial trade barriers,” said AEM Senior Vice President of Government and Industry Relations Kip Eideberg.
“We look forward to working collaboratively with Ottawa and the provincial governments to ensure smooth implementation of standards and to begin truly building ‘one Canadian economy’.”
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The Bill is designed to expedite national building projects by streamlining federal review and approval processes to increase regulatory certainty, helping attract capital, strengthening Canadian industry and moving towards greater sovereignty.
The One Canadian Economy Act also tackles the removal of provincial trade barriers, accepting comparable provincial or territorial regulations, where they exist, as meeting federal requirements for the movement of goods, services and labour within Canada.
“Canada’s equipment manufacturers stand ready to seize the opportunities Bill C-5 presents, including helping to deliver mass scale infrastructure projects – from energy corridors to mass transit systems, and more – across the country faster and more efficiently,” Eideberg said.
“Streamlined, national standards will help promote a truly integrated domestic supply chain, which will unlock greater interprovincial commerce, strengthen manufacturing capacity, and create more jobs in the equipment manufacturing industry.”
With Royal Assent, the federal government will begin consultations with provinces, territories, Indigenous Peoples and the private sector to identify nation building projects and implement measures to streamline processes for other projects. This includes working with provinces, territories and Indigenous partners to adopt a ‘one project, one review’ approach to reduce duplication.
This work will be led by the Federal Major Projects Office, a new yet-to-be-launched entity.
“With Bill C-5 today becoming law, we are removing trade barriers, expediting nation-building projects, and unleashing economic growth, in close cooperation with Indigenous Peoples,” said Prime Minister Mark Carney.
“We will give ourselves more than any foreign nation can ever take away by building one Canadian economy – the strongest economy in the G7.”
