Ontario’s Minister of Economic Development, Job Creation and Trade says the new memorandum of understanding signed with Michigan is a big deal for the province's future.
On Tuesday, the new Economic Cooperation MOU was signed by Premier Doug Ford and Michigan Governor Gretchen Whitmer, which aims to support joint initiatives in priority areas, like electric vehicles, related supply chains, new post-secondary exchange programs, and efforts to identify opportunities for strategic partnerships.
Speaking on AM800's The Shift with Patty Handysides, Vic Fedeli says Michigan is a hugely important trading partner for the province given that one in five jobs in Ontario depending on exports.
"And you've got your number one export partner right next door to Windsor, it's really, really important that we fully understand each other and work towards smoothing things over for businesses," he continued. "To make sure that we can drive trade, create jobs, and bring more investment to both areas."
Fedeli says one of the big changes as a result of the MOU is the establishment of a Procurement Cooperation Council, where they'll be able to sit at a table and talk about advancing opportunities for businesses.
"We did one of these in Maryland three years ago, and since that time trade between Ontario and Maryland has increased by almost 12 per cent. So this really is to enable more opportunities between Ontario and Michigan."
He says one of the areas they're hoping to make progress on through the MOU is removing trade irritants, like regulations that aren't aligning in certain areas and sectors.
"So what we'll do with Michigan is look to align weight limits, wide load regulations, things like that. These irritants that come up that are just red tape, we want to be able to harmonize some of the regulations. So that's an exact example," he said.
Fedeli says strengthening the relationship with their partners in Michigan will help create the right conditions to ensure that businesses in both jurisdictions, including those in the auto sector, remain globally competitive.
- with files from AM800's The Shift with Patty Handysides