Window of Opportunity: Free Trade Zone

Windows of opportunity are often unpredictable and fast moving in public policy. They are described by policy experts as fleeting moments where the convergence of problems, solutions, and political will creates a rare chance for impactful change. We are at this moment in Atlantic Canada. Last week, both Premier Holt and Premier Houston signalled an openness to free trade in the region and Premier Lantz also noted these discussions are important. Outgoing Newfoundland and Labrador Premier Andrew Furey also made positive comments about internal trade and is taking a more cautious approach of an Atlantic Free Trade Zone.

The Government of Newfoundland and Labrador has raised concerns that the fishery could present complications particularly due to its minimum processing requirements, which safeguard local jobs and economic stability. They’re right to demand a federal fix that doesn’t gut their industry—these are solvable hurdles, not dealbreakers, if leaders act decisively. They are also calling on the Federal Government to remove Marine Atlantic fees while the Premier of PEI, Rob Lantz, recently announced commitments from political parties to eliminate or review tolls on two transportation routes: Confederation bridge and the Wood Island Ferry.

Without resolutions that balances these interests, the window for a unified Atlantic free trade zone could close as quickly as it opened, leaving the region’s economic potential fragmented.
Free trade among the four closest provinces could streamline economies, reduce barriers, and boost regional prosperity, but the concept of it hinges upon courageous leadership. In a recent study, economist Trevor Tombe found that the liberalization of trade could have substantial economic benefits for all provinces in Atlantic Canada.

I applaud the initiative to start to implement free trade across Atlantic Canada. It will not be easy, and I encourage all Premiers to move forward. The threat of tariffs has now become a regular occurrence, and Atlantic Canada has an opportunity to adapt by tearing down barriers with each other and creating economic prosperity. When regions join to unleash the power of free trade, to unlock the power of free enterprise, and when government removes itself from the equation, our economy will flourish.
Governments across the region should have prioritized this years ago, instead policymaking had been more reactionary. What lies at our feet is a window of opportunity for fast-paced meaningful change. We saw governments do this during the pandemic, we know it is possible. It is the time for the four Atlantic provinces to come together and remove barriers and promote economic freedom and prosperity in our region. Anything less, and you’re not just missing an opportunity—you’re picking the slow road to stagnation over the fast track to freedom.

Don’t let the window close.

Read more: Chambers of the Federation: An Agenda for Economic Growth and Stability
 
 
Rhonda Tulk-Lane
CEO
Atlantic Canada of Commerce
 
 
Rhonda Tulk-Lane is the CEO of the Atlantic Chamber of Commerce, a nationally accredited organization representing more than 16,000 businesses in Atlantic Canada through its network 90 Chambers of Commerce and corporate partners.