Ottawa, February 2, 2018 (Updated April 10, 2018)
Canadian Manufacturers & Exporters (CME), is calling on the federal government to immediately take action on the Trans Mountain Expansion Project controversy, as well as develop a strong and effective national framework to support pipeline and energy development across Canada.
“Canada’s economy takes roots in our ability to harness our natural resources by developing new extractive technologies and by transforming them into value-added goods which are exported at a premium to global markets,” stated Dennis Darby, President & CEO of CME. “CME, as part of its ambitious plan (Industrie2030) to double manufacturing output and exports across the country by 2030, had identified resource development as a key component for future growth.”
Manufacturers in all provinces benefit from oil sands development and exports. According to a 2015 Conference Board of Canada study, the Trans Mountain Expansion Project could have the following economic benefits:
- $163 billion increase in Canada’s GDP ($23.2 billion in BC)
- 802,000 person-years in employment effect nationally (190,000 in BC)
- $46.7 billion in fiscal benefits nationally ($5.7 billion in BC)
- $60 billion in addition oil and gas investment ($6.48 billion in BC)
“It is critical for our economy and for the hundreds of thousands of Canadians that are directly and indirectly employed by the sector to continue to develop and export our resources. Without access to foreign markets, Canadian manufacturers cannot capitalize on the significant opportunities of our natural resource sector, including the oil sands,” added Darby. “CME is urging the federal government to intervene in this issue and help get the Trans Mountain Expansion Project built.”
ABOUT CANADIAN MANUFACTURERS & EXPORTERS
Since 1871, Canadian Manufacturers & Exporters has been helping manufacturers grow at home and, compete around the world. Our focus is to ensure manufacturers are recognized as engines for growth in the economy, with Canada acknowledged as both a global leader and innovator in advanced manufacturing and a global leader in exporting. CME is a member-driven association that directly represents more than 2,500 leading companies who account for an estimated 82 per cent of manufacturing output and 90 per cent of Canada’s exports.
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