Ontario and Michigan strengthen economic ties, support increased trade, job creation

Economic Cooperation Memorandum of Understanding signing. Image credit Twitter @VictorFidelli

#Ontario; #Michigan; #EconomicCooperationMOU; #SupportIncreasedTrade; #jobCreation

Ottawa/CMEDIA: A new partnership, the new Economic Cooperation Memorandum of Understanding (MOU) was formed between Ontario and Michigan to increase trade, attract investment, encourage job creation in both jurisdictions, and support joint initiatives in priority areas, such as electric vehicles and related supply chains, a news release has said. 

The agreement was signed Jul 25 by Premier Doug Ford, joined by Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade and Governor Gretchen Whitmer, during a virtual ceremony. 

These initiatives could include joint trade promotion and missions, new post-secondary exchange programs, and efforts to identify opportunities for strategic partnerships that will help businesses compete internationally.

“Ontario and Michigan share deep economic ties as partners, neighbours and friends…As we navigate global uncertainty, now is the time to strengthen this important relationship to build our economies, further integrate our supply chains and create good-paying jobs on both sides of the border,” Ford said. 

“As home to the busiest border crossing for goods between the U.S. and Canada…“Canada was the top destination for Michigan exports last year, putting $27 billion into our economy…oday’s Memorandum of Understanding will reaffirm our partnership and foster greater collaboration on trade, technology, cybersecurity, agriculture, and more…and usher in a bright future.”said Governor Whitmer. 

Sharing the busiest border crossing in North America. Ontario and Michigan are each other’s largest trading partner with total trade valued at over CAD $80.6 billion last year. 

Under the new Ontario-Michigan MOU, the two jurisdictions will work together to identify opportunities for strategic partnership and joint trade promotion, improve access to information and facilitate more efficient border crossings, collaborating on electric vehicle adoption and related supply chains, advanced technology, cybersecurity, agriculture and rural development, alternative clean fuels and travel and tourism.

As part of the MOU, Ontario and Michigan will establish a Procurement Cooperation Council to support an open dialogue on government procurement, improving transparency and engagement on government purchasing for businesses from both jurisdictions.

“As we continue to build Ontario’s end-to-end electric vehicle supply chain and other priority sectors, we look forward to working with Michigan on initiatives to help businesses grow and create more good-paying jobs.”  said Vic Fedeli.