CIAC APPLAUDS THE ANNOUNCEMENT OF NEW INFORMATION SYSTEM UNDER THE TRADE AND TRANSPORTATION CORRIDORS INITIATIVE
July 5, 2017
On July 4, Transport Minister Marc Garneau announced a $2.1 billion Trade and Transportation Corridors Initiative (TTCI) to support Canadian businesses and spur job creation. The fund will be dispersed over 11 years to strengthen Canada’s trade infrastructure, including rail networks, roads, and waterways.
The Chemistry Industry Association of Canada (CIAC) applauds the establishment of a Trade and Transportation Information System to collect information and data on Canada’s transportation network.
“Data is essential in ensuring a fair, competitive, market-driven and commercially based system that supports growth and prosperity in Canada and its trading partners,” said Bob Masterson, CIAC President and CEO. “An efficient transportation network is critical to our industry, and this initiative will lead to improvements in level of service.”
CIAC has long been an advocate for increased funding for Canada’s transportation networks. The chemistry industry makes three-quarters of its annual shipments by rail and chemicals account for over 12 per cent of all Canadian rail traffic. This new fund will help ensure Canada’s railways meet the standards of our industry.
Benefits of the TTCI relevant to the chemistry industry include:
National Trade Corridors Fund (NTCF), $2 billion over 11 years in support of trade infrastructure
Up to $400 million of the NTCF will support movement of goods in Canada’s Northern territories
$50 million over five years towards working with key partners to “stay on top” of new and disruptive transportation technologies, to update rules and regulations for automated vehicles
$50 million over 11 years towards the TTIS, to have access to quality and accessible information on Canada’s transportation system
CIAC looks forward to working with the government on rail safety and ultimately, further efficiency of movement of Canada’s goods to world markets.