CME calls for a concrete plan for the economic recovery

August 30, 2021   Maryam Farag

Canadian Manufacturers & Exporters (CME) unveiled its platform for the 2021 federal election, which outlines a national strategy to restore Canada’s manufacturing sector’s leading position.

According to CME, “the sector has been lagging for several years: with a slow decline in investment since the early 2000s and little growth in exports, the erosion of Canada’s industrial competitiveness has had a direct impact on manufacturers’ ability to respond to and recover from the crisis. Yet, Canadian manufacturers represent over 91,000 businesses, 1.7 million employees, they generate over $690 billion in annual sales, and are asking for government help to get back on their feet quickly.”

CME is presenting its demands to ensure a solid growth for the industry. This strategy will need to be founded on four pillars, with the importance of reducing the overall administrative burden on businesses in this country at its core:

  • Get the workers that manufacturers and exporters need;
  • Stimulate investment in innovation and advanced technologies;
  • Increase Canadian exports; and
  • Adopt an industrial net zero strategy.

For many years, we have been calling for a national industrial strategy and believe that the time has come, after the period we have just experienced, to choose what kind of economy we want for our country in the coming decades,” said Dennis Darby, President and CEO, CME. “The manufacturing sector is critical to Canada. An industrial strategy must include specific and precise measures for our sector to invest in our manufacturing capacity. The time has come for the government to make a long-term commitment and finally support the recommendations of the industry.”