RAW: Chrystia Freeland’s full comments at the WEF

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Canada is an open economy it’s a G7 economy um looking at trade and Investments and and Revival of growth there how important do you think it is what are the measures we can take globally to do better and uh what is Canada’s contribution uh to this and I

Also add those three questions but you probably remember also Christia she was given the task when um Mr Trump was president and there was a new uh trade policies and also the renegotiations of NAFTA and you maneuvered that through and I guess that’s a competence that is also

Possibly useful in the years to come over to you chrisa um well thank you very much boray and um thank you for the friendship between Canada and Norway I know you’re not here in that capacity but it’s a very important partnership for us um look Borg you know Canada well

And Canada is an open economy we are a trading Nation um we’re very proud to be able to say we are the only G7 country that has a comprehensive trade deal with every other G7 country with falis with Brian I see Taro Kono of Japan um if we

Had a Brit here um with the Brits too and we work hard to have strong trading relationships we believe in them it is also the case as MOSI and calun have said the environment in 2024 is very different than it was in 2015 when I became trade Minister and it

Is clear I very much agree with how hun framed it there are sort of two dominant economic trends that have a bearing on trade and investment right now one is a focus on supply chain resilience and and that is just a reality after the shock that we all experienced during covid

With things shut down our people are just going to demand a little more Security in their supply chains and then that was multiplied as falun said by Russia’s illegal invasion of Ukraine and you know valdis can speak much more uh with much greater experience than I can

Um but we all saw in particular how that really delivered a huge shock to Europe the dependency that they had so supply chain resilience it’s a reality and we’re all thinking about it in how we build our own trade relationships and also how we as Canada make a pitch to

Foreign investors the other thing that’s going on and again helun talked about this is this is a hugely transformative moment in the whole global economy uh I think that right now we’re living through through a moment which is comparable only to the Industrial Revolution itself in terms of the energy

Transition and the way we need to retool all of our manufacturing that is huge Canada’s strategy forgay is to say look at these two Trends and let’s see how we can use them to play to Canada’s strengths and our view is there’s a lot that Canada

Can offer to the world in this moment you know we have the critical minerals and metals that you need to build a green economy we have a lot of clean energy 85% of our grid is already clean and we are investing heavily in building more clean energy we are a country that

Believes in manufacturing has manufacturing knowhow and capacity and then you guys spoke about industrial policy you know the thing that is new about industrial policy is we are developing our economies growing our economies at a time when we also need to accomplish the green transition and I spoke yesterday to a very

Significant international business leader who was also a big investor in Canada and he said to me all the countries in in the world need to be very careful that decarbonization does not mean deindustrialization I thought that was an extremely smart comment and Canada is absolutely determined that decarbonization for us will mean more

Jobs more growth more manufacturing and we recognize government needs to play a role to make that happen so we’ve set up a $5 billion government fund run by professional investors from a Canadian pension fund and I hope you know Canadian Pension funds they’re Geniuses the best in the world so we don’t have

My department manage the money sorry you guys are very good too um and the norig are un nor B no but like come on the Canadian Pension funds they’re great um my point is we’re we don’t have government bureaucrats invest these $15 billion we have professional investors

Do it but their job is to fill that gap between what to to Really to drisk for private capital and that 15 billion is being invested alongside private Capital to make projects work and then we have put in place a system of investment tax credits um really to be comparable to

The IRA and we now have a suite of policies for the industrial transformation worth about $120 billion so come invest in Canada we believe that we have to hustle um we think this is a moment that you know the cement is being poured for the new economy and we really

Believe in being out there talking to investors in the world and saying there’s a lot of natural advantages Canada has and we’re going to help those advantages along with government policy and then just to conclude G what I’ll say I liked your introduction I liked the way you said it’s really important

That trade policies work for people and that would be sort of my final comment speaking for Canada um but really I think this applies to the whole world um as we build our economic policies whether they are trade policies or investment attraction policies or Industrial policies at the end of the

Day the question we have to ask ourselves is will this make the life of the people I represent better will it create great jobs that people can build a life on and have hope and optimism for the future with

Help us hold the elite accountable in Davos!
Deputy Prime Minister Chrystia Freeland spoke about Canada’s economy and more at this year’s World Economic Forum in Davos, Switzerland.

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Reference

26 COMMENTS

  1. Rebel News has sent the fearless Ezra Levant, Australia Bureau Chief Avi Yemini, and a support team to Davos, Switzerland to cover the World Economic Forum's 2024 Annual Meeting. Please donate here to support our 100% independent journalism and offset the cost of our economy-class airfare, our shared Airbnb outside the city, car rental, meals and lots of coffee! http://WEFReports.com

  2. We spent thousands to send the witch there for this. We dont have mines. The grid is not 85 %. We have failed manufacturing. We have a destructive manufacturing sector. Decarbonization is hurting Canadians and Canada. Our vurocrats are i competznt and let 15 billion be stolen by consultants. The witch talks a big game but has no substance. She speaks for the WEF, not Canada. What a load of bullshit and its steaming

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