The governments of Ontario and Michigan have entered into a new agreement in an effort to increase trade, attract investment and encourage job creation.
During a virtual ceremony held on Tuesday, Premier Doug Ford and Michigan Governor Gretchen Whitmer signed a new Economic Cooperation Memorandum of Understanding (MOU).
The agreement will support joint initiatives in priority areas, such as electric vehicles, supply chains, advanced technology, cybersecurity, agriculture and rural development, alternative clean fuels, and tourism.
“This agreement will help open even more opportunities to work together and drive further economic growth,” said Ford in a news release. “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.”
The MOU is also expected to improve access to information, facilitate more efficient border crossings, and create strategic business partnerships to help businesses compete internationally.
Part of the agreement also includes the creation of a Procurement Cooperation Council, which will improve transparency and engagement in government purchasing for businesses in both Michigan and Ontario.
Ontario and Michigan share the busiest border crossing in North America, with total trade valued at over $80.6 billion last year. In 2022, over eight per cent of the annual trade between the U.S. and Canada was between Ontario and Michigan.
