The territories are understood to create a common commercial area

The three Canadian territories announced Tuesday that they signed an agreement protocol for the creation of a common exchange area. Furthermore, the objective of which is to promote the free movement of goods and workers.

In a joint press release. Nevertheless, the Prime Ministers of Yukon, Mike Pemberton, of the Northwest Territories, RJ Simpsonand Nunavut, PJ Akeeagok, said that the agreement protocol would help strengthen the northern economy as a whole and facilitate the mobility of the workforce.

This protocol. Moreover, which is not binding, provides in particular the establishment of a common register of skills securities which would facilitate the displacement of workers between the three territories.

The agreement was signed last week at Huntsvillein Ontario. Meanwhile, during a meeting of the Council of the Federation in which the three Prime Ministers took part.

Prime Minister Simpson said the laws specific to each province. In addition, territory are ineffective and that they cost money to our economy. Therefore,

We want to be able to offer preferential treatment to northern companies. so that the Northern residents derive benefits from economic activities in the North.

Simpson added that efforts to eliminate these barriers in the North must, however, include other considerations.

What we do not want is to bring down all our barriers. again become a colony, in a way, or the companies of the south of the country will extract the resources and leave without leaving territories understood create common commercial anything to the territoryhe said.

The agreement also allows territorial governments to coordinate lobbying efforts to the federal government. the private sector in order to promote investments.

We also read in the Tuesday press release that any agreement will have to respect the agreements on territorial demands. other agreements concluded between territorial governments and nations and native organizations, while actively supporting the participation of Aboriginal groups in the economy.

Territories understood create common commercial

Cautious optimism in industry

Prime Minister RJ Simpson stressed that he did not expect the residents. of T.N.-O. note immediately the expected repercussions of the agreement. Rather, this is a long -term vision he says.

In Nunavut. Tony Rose, director general of the Baffin Regional Chamber of Commerce, considers that it is territories understood create common commercial still too early to advance on possible repercussions. He ensures that the organization will collect the feedback from its members about the common commercial area offered.

Tony Rose also claims that this fall elections in Nunavut are timely. For us. this is a good opportunity to exchange with the future government about the priorities of companies, both within the Baffin region and throughout the territory.

Elections will also be triggered at the Yukon this fall.

In separate statements, at least two large companies in the North also display cautious optimism.

In a press release. the Agnico Eagle mining says they welcome this agreement, which will help simplify processes and support a stronger Canadian economy.

For its part. the telecommunications company Northwestel consider the exchange zone project as a positive step for private companies operating in the three territories understood create common commercial territories.

The agreement occurs in a context of uncertainty for the Canadian economy, notably due to American customs tariffs.

Negotiations continue between the federal government and the Trump administration, under the threat of new customs tariffs.

With information from TJ DHIR and Lawrence NAYALLY