Canadian Manufacturers & Exporters (CME) has sent its congratulations to the new federal cabinet announced on Oct. 26, saying it looks forward to working with the new ministers to address Canadian manufacturers’ priorities.
“The manufacturing sector is essential to Canada’s economy. Not only does it produce the essential goods that we use every day, but it is also the basis for regional economic development. However, the sector has been falling behind for several years—it is losing investment, production, and jobs. This is why we must act now by putting in place the necessary measures to ensure the competitiveness of our manufacturing companies and make sure that they have the workers they need,” said CME president and CEO Dennis Darby.
CME says Canada should strive to attract at least two percent of the annual OECD manufacturing investment, or $50 billion annually, into Canada’s manufacturing sector over the next decade.
The association has invited the new ministers to commit to a two percent challenge and to work with manufacturers to implement an effective and comprehensive industrial strategy for Canada that focuses on the following key priorities:
- get the workers that the manufacturing sector needs;
- stimulate investment in innovation and advanced technologies;
- increase Canadian exports; and
- adopt a net-zero strategy.
CME noted that supply chains have undergone many disruptions in recent months and are now more fragile than ever. The association is urging the newly sworn in ministers to work closely with manufacturing and exporting companies to minimize the impacts.
“The erosion of our industrial competitiveness has had a direct impact on the ability of our manufacturing companies to respond to and recover from the crisis. It is now essential to question the type of economy we want to build. This pandemic has clearly demonstrated the importance of investing in our manufacturing capacities right now,” Darby says.
During the last federal electoral campaign, CME unveiled its ‘Manufacturing Now’ platform, which spelled out its main recommendations to ensure the growth of the manufacturing sector in Canada.