world-economy

Canada Pursues Export Diversification While Streamlining Project Review

Prime Minister Mark Carney is pursuing aggressive trade expansion to reduce Canada's economic dependence on the United States. Last year, his government set a target to double non-US exports within the next decade. To support this objective, his administration is streamlining federal project approvals, compressing review timelines to one year in response to longstanding criticism that Canada's regulatory processes lag competitors. Carney signaled willingness to deepen trade partnerships with the US and Mexico in select sectors to drive continental economic growth. Additionally, the government is exploring asset monetization strategies, including potential divestment of airport holdings, to redeploy capital toward growth-focused infrastructure initiatives. These coordinated measures represent Ottawa's effort to accelerate commerce while maintaining competitive project approval processes.