2 days ago
Nova Scotia reducing trade barriers with 5 provinces
Amid economic uncertainty in Canada caused in part by U.S. tariffs, Nova Scotia says it has struck deals to reduce trade barriers with five provinces.
Premier Tim Houston introduced the Free Trade and Mobility within Canada Act in February to help create mutual recognition of goods, services and labour mobility between Nova Scotia and other parts of the country.
The act allows the province to remove barriers to trade and investment with others that will do the same for Nova Scotia.
A news release Wednesday said Ontario, Alberta, British Columbia, Manitoba and Prince Edward Island have all taken steps to improve trade and investment opportunities between provinces.
The federal government is expected to do the same. Prime Minister Mark Carney has promised federal legislation targeting barriers under Ottawa's jurisdiction by Canada Day, which could target anything from energy efficiency standards to environmental and regulatory assessments on major projects.
The release said the barriers being removed by Nova Scotia focus on three key areas:
Ending Canadian Free Trade Agreement exemptions that limit interprovincial trade with Nova Scotia.
Allowing goods or services that are legally sold, used or provided in another province to automatically be able to be sold, used and provided in Nova Scotia without having to meet Nova Scotia's labelling, packaging, certification or inspection requirements.
Removing labour mobility barriers by requiring regulators to process equivalent licences within 10 business days and restricting application requirements to evidence of good standing and liability insurance.
Nova Scotia's removal of trade barriers with Alberta and P.E.I. comes into effect immediately, while barriers with the other provinces and federal government will be removed upon proclamation of their equivalent legislation.
In 2023, the value of Nova Scotia's interprovincial exports was nearly $29 billion.
Interprovincial exports make up about half of Nova Scotia's total exports and contribute about 17 per cent of Nova Scotia's gross domestic product.
More than $530 billion worth of goods and services moves across provincial and territorial borders every year — equal to 20 per cent of Canada's GDP.
