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Canadian Pacific Railway recently reached an agreement with the Fraser River Port Authority (FRPA) to expand Asia-Pacific business by jointly improving rail service and expanding infrastructure.

CPR and FRPA officials will consult on market outlooks and business development opportunities, coordinate investments, and plan port and rail infrastructure projects, such as building or improving terminals and track. FRPA also will improve CPR’s access to Fraser River facilities to help the railroad meet increased traffic demand.

“Our agreement demonstrates further progress in bringing together the players in the supply chain to ensure Canadian businesses, and the Canadian and B.C. economies have what they need to seize the opportunities presented by growing Asia-Pacific trade,” said CPR Chief Executive Officer Rob Ritchie in a prepared statement.

By 2020, British Columbia ports expect container volume to increase to about 7 million 20-foot equivalent units compared with 2 million this year.

“It is imperative that the ports, transportation industries and all levels of government continue to develop capacity improvements across all modes of the Pacific Gateway logistics chain — marine, road and rail — if we are to facilitate the economic growth of this region and of Canada,” said FRPA President and CEO Allen Domaas.

By year end, CPR expects to complete a $160 million project that will expand the railroad’s western corridor capacity by 12 percent (or an additional four trains per day). In addition, the Canadian government recently announced plans to provide $590 million in funding for port and transportation infrastructure projects that help the Pacific Gateway attract more Asia-Pacific trade.