At the Senate committee, a Statistics Canada official reported that between 1981 and 2014, the value of interprovincial trade in Canada increased by 4.2 per cent and GDP increased by 5.3 per cent during that period. International imports also increased by 6.2% and international exports by 6.1%. The TYA was signed in 1994 by the federal, provincial and territorial governments (with the exception of Nunavut) and came into force in 1995. The AIT was the first pan-Canadian agreement to remove barriers to the free movement of people, goods, services and investment within Canada. According to the Bank of Canada, the removal of interprovincial trade barriers could affect Canada`s production potential by up to two-tenths of a percentage point each year. The committee said the agreement should also support inter-jurisdiction commerce through mutual recognition. He welcomed the 2010 New West Partnership Trade Agreement between British Columbia, Alberta and Saskatchewan for removing more internal barriers than the AIT. It did so through mutual recognition, which means that a person, good, service or investment that meets the standards of one province or territory is automatically acceptable in any other province or territory. The government says internal trade accounts for about 20 per cent of Canada`s annual GDP and amounts to $385 billion a year. It also accounts for about 40 per cent of provincial and territorial exports. The Bank of Canada has predicted that the removal of internal barriers to trade would have economic repercussions similar to those of Canada`s signing of CETA.
The CPTPP contains many procurement provisions that are similar to Canada`s other commitments in the international trade agreement on non-discrimination, fairness, openness and transparency. Unless otherwise specified by the CPTPP, its procurement obligations apply to the Province of British Columbia and the province`s ministries, bodies, commissions, agencies and committees. . . .