How stupid are we that this has ever been an issue?

Canada Moves Closer to New Internal Trade Deal Among Provinces

Canada's Prime Minister Justin Trudeau (6th R) poses with provincial and territorial premiers during the First Ministers' meeting in Ottawa, Canada, November 23, 2015. | Photo: Reuters

Canadian provincial leaders agreed this week to move forward with the implementation a new inter-provincial free trade agreement known as the Canadian free-trade agreement (CFTA). The proposed agreement seeks to deregulate internal trade and would ease restrictions on imports.

"The new [agreement] virtually covers the entire Canadian economy and will have unprecedented transparency on how the federal government, the provinces and the territories will regulate,” Yukon Premier Darrell Pasloski said during a closing press conference of the annual summer Council of the Federation.

Under the proposed deal, barriers and restrictions to trade and labor would be removed, along with transportation, making it easier for companies to expand their operations.

The creation of CFTA would replace the Agreement on Internal Trade (AIT), which is the current framework on internal trade agreements.

During the discussions, Canadian provincial leaders said that they will instruct their respective trade ministers to resolve the pending disagreements around the proposal. In order for the deal to approved, all provincial trade ministers must sign off on the deal.

The new trade initiative could impact a wide range of industries, including energy, dairy, and other consumer good products.

Meanwhile, Canadian officials are currently engaging in talks with their European counterparts as part of the Comprehensive Economic and Trade Agreement, or CETA.

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