How Canada’s political leaders can help the manufacturing sector

Aiding individual sectors or companies should take a back seat to policies that encourage innovation across the economy

 

In this edition of the CB Elevator Pitch, editor James Cowan talks about how Canada’s political leaders can truly help the struggling manufacturing sector. Matt Kwong recently wrote about some measures that are already in the works—but don’t expect any quick fixes:

Reclaiming market share in the U.S. will be tough, but there are some measures the Canadian government and manufacturers can take to strengthen the export sector, beyond amping up plant productivity. Looking outside North America to develop and expand trade agreements may be one way to reverse sluggish exports. The federal government has already made signing trade agreements a priority. Along with 2013’s free-trade agreement in principle with the European Union, large markets such as India and Japan are on the radar. The government is pursuing trade pacts with more than two dozen nations, according to Industry Canada. “These agreements aren’t going to provide any near-term relief, but those are things policy-makers should continue to pursue,” [Capital Economics economist David] Madani says.

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