Benefits
The New West Partnership Trade Agreement creates a single economic region encompassing British Columbia, Alberta, Saskatchewan, and Manitoba. The implementation of the NWPTA presents a great opportunity for continued economic growth in these provinces.
Some of the benefits of the NWPTA include the following:
- Canada’s most open and competitive economy
British Columbia, Alberta Saskatchewan and Manitoba have a market of over eleven million people and a Gross Domestic Product of more than $720 billion.
- Labour mobility
Labour mobility provisions allow certified workers to practice their occupation in the these provinces without being subject to additional exams or training requirements.
- Business registration
Businesses registrants in one province are now able to seamlessly register in the other provinces at the same time as their original incorporation. All residency requirements are removed (effective for Manitoba as of January 1, 2020).
- Streamlined regulations
Unnecessary differences in business standards and regulations will have been eliminated (effective for Manitoba as of January 1, 2019).
- Enhanced competitiveness
Allowing goods, services, capital and workers to flow freely across the British Columbia-Alberta-Saskatchewan-Manitoba borders boosts trade, makes it easier for businesses to expand into the other provinces, and lowers costs for businesses and taxpayers.
- Best value for public spending
Open procurement policies with low thresholds help ensure best value for tax dollars. This also creates more opportunities for small- and medium-sized businesses to bid on public contracts.
- An accessible bid protest mechanism
The bid protest mechanism enables British Columbia, Alberta, Saskatchewan and Manitoba suppliers to challenge procurements undertaken by a public entity in the NWPTA provinces where the supplier perceives that a procurement has not been conducted in a fair, open, and transparent manner, as required by the NWPTA.
