16 Dec Canada Announces Trade Diversification Corridors Fund
The Canadian government has announced the Trade Diversification Corridors Fund: an initiative which aims to unlock new export opportunities and create a more resilient and diversified economy. This C$5 billion (US$3.55 billion) project aims to lessen the country’s trade dependency on the US and double non-US exports within a decade.
Key priorities include the C$1.6-billion Contrecoeur terminal near Montreal, a new port and rail investments on both coasts and in northern Quebec as well as expanded customs screening capacity at Ottawa via new container entry points along the Great Lakes-St. Lawrence corridor which will enable ports such as Quebec City and Hamilton to handle boxes for the first time.
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