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Rail News: Federal Legislation & Regulation
10/31/2012
Rail News: Federal Legislation & Regulation
Canadian government to provide more funds through Asia-Pacific Gateway initiative
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Yesterday, Canadian Minister of International Trade Ed Fast announced all funds made available by the federal government under the Asia-Pacific Gateway and Corridor Initiative (APGCI) will continue to support projects that create jobs, spur economic growth and ease the movement of goods, services and people to and from Asia-Pacific regions.
The federal government plans to issue an open call for new funding proposals in the coming weeks because of the reallocation of $50 million under the APGCI Transportation Infrastructure Fund, Fast said in a prepared statement. The fund facilitates projects in British Columbia that support Asia-Pacific trade by reducing transportation bottlenecks, addressing capacity issues and enhancing transportation system efficiency.
Some previously proposed projects in British Columbia are not proceeding for various reasons, but the province, municipalities, Canada Port Authorities and other stakeholders engaged in British Columbia's transportation system will have the opportunity to apply for funding via new proposals, said Fast. Applications will be due Dec. 12 and approved projects must be completed by March 31, 2016.
"Our government is committed to helping our exporters reach fast-growing Asia-Pacific markets by continuing to boost Canada's competitive advantages," said Fast. "That is why we are ensuring that all of the funds committed to helping better facilitate Canadian exports to Asia are utilized."
To date, the federal government has provided about $1.4 billion through the APGCI — in partnership with all four western provinces, municipalities and the private sector — for infrastructure projects valued at more than $3.3 billion. As a result, Canadian exports to the Asia-Pacific region have reached record levels, said Fast. For example, Canadian exports to China jumped 27 percent in 2011.
The federal government plans to issue an open call for new funding proposals in the coming weeks because of the reallocation of $50 million under the APGCI Transportation Infrastructure Fund, Fast said in a prepared statement. The fund facilitates projects in British Columbia that support Asia-Pacific trade by reducing transportation bottlenecks, addressing capacity issues and enhancing transportation system efficiency.
Some previously proposed projects in British Columbia are not proceeding for various reasons, but the province, municipalities, Canada Port Authorities and other stakeholders engaged in British Columbia's transportation system will have the opportunity to apply for funding via new proposals, said Fast. Applications will be due Dec. 12 and approved projects must be completed by March 31, 2016.
"Our government is committed to helping our exporters reach fast-growing Asia-Pacific markets by continuing to boost Canada's competitive advantages," said Fast. "That is why we are ensuring that all of the funds committed to helping better facilitate Canadian exports to Asia are utilized."
To date, the federal government has provided about $1.4 billion through the APGCI — in partnership with all four western provinces, municipalities and the private sector — for infrastructure projects valued at more than $3.3 billion. As a result, Canadian exports to the Asia-Pacific region have reached record levels, said Fast. For example, Canadian exports to China jumped 27 percent in 2011.
