OTTAWA, ON, Oct. 26, 2021 /CNW/ - Canadian Manufacturers & Exporters (CME) congratulates the new cabinet and looks forward to working with new ministers on Canadian manufacturers' priorities.
"The manufacturing sector is essential to Canada's economy. Not only does it produce the essential goods that we use every day, but it is also the basis for regional economic development. However, the sector has been falling behind for several years - it is losing investment, production, and jobs. This is why we must act now by putting in place the necessary measures to ensure the competitiveness of our manufacturing companies and make sure that they have the workers they need," says Dennis Darby, President and CEO of CME.
4 priorities for the manufacturing sector
CME believes Canada's goal should be to attract at least 2% of the annual manufacturing investment into the OECD, or $50 billion annually in Canada's manufacturing sector over the next decade.
The Association therefore invites the new ministers to commit to a 2% challenge and work with manufacturers to implement an effective and comprehensive industrial strategy for Canada that focuses on the following key priorities:
Get the workers we need;
Stimulate investment in innovation and advanced technologies;
Increase Canadian exports; and
Adopt a net-zero strategy.
Disrupted supply chains
In recent months, supply chains have undergone many disruptions and are now more fragile than ever. CME urges the newly sworn in ministers to work closely with manufacturing and exporting companies to minimize the impacts.
"The erosion of our industrial competitiveness has had a direct impact on the ability of our manufacturing companies to respond to and recover from the crisis. It is now essential to question the type of economy we want to build. This pandemic has clearly demonstrated the importance of investing in our manufacturing capacities right now," concludes Dennis Darby.
During the last federal electoral campaign, CME unveiled its 'Manufacturing Now' platform detailing The Association's main recommendations to ensure the growth of the manufacturing.
The manufacturing sector represents more than 10% of Canada's gross domestic product.
Manufacturers directly support more than 1.7 million jobs in Canada.
The total manufacturing sales in 2019 surpassed $685 B.
SOURCE Canadian Manufacturers & Exporters
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