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Premiers of Nunavut, the Northwest Territories, Yukon and Ontario have signed a memorandum of understanding to break down barriers to free trade among the four jurisdictions.

Details of the agreement were announced July 22. The memorandum of understanding (MOU) itself was signed a day earlier in Huntsville, Ont.

鈥淔or the North to reach its full economic potential, we need to reduce the barriers that make it harder for our people and businesses to connect with the rest of the country 鈥� and for them to connect with us,鈥� said NWT Premier R.J. Simpson. 鈥淭his agreement is a step toward that: supporting labour mobility, streamlining certification and opening up new opportunities for 黑料吃瓜网ers.

"It reflects a shared commitment to building a more open, connected and resilient Canadian economy.鈥�

Under the terms of the agreement, all four governments say they will work to align safety regulations to eliminate barriers to moving goods and services, as well as aim to align professional regulations to enable better cross-border employment opportunities.

All parties also agree to strive, "where feasible," to eliminate any unnecessary costs to businesses and workers in moving and trading across jurisdictions. They are also promising to adopt a 30-business-day standard for issuing certifications and licences to regulated professions.

Nothing in the MOU is legally binding. The document also notes all parties recognize that Ontario no longer has any exceptions under the Canada Free Trade Agreement.

鈥淭his MOU is a strategic opportunity for Nunavut to enhance labour mobility, reduce trade barriers and strengthen our economic ties with other jurisdictions,鈥� said Nunavut Premier P.J. Akeeagok. 鈥淚t positions Nunavut to be a more connected and competitive player in Canada鈥檚 economy.鈥�

In 2021, trade between Ontario and Nunavut was estimated at $1.7 billion. Trade between Ontario and the NWT was estimated at $800 million, the same amount value as the province's trade with Yukon.

Making it easier to move goods, services and workers through the country will help shield the economy from outside threats, such as those made by current U.S. President Donald Trump, who has repeatedly stated he wants to annex Canada and turn it into a 51st state in addition to imposing tariffs on various goods.

鈥淭his agreement between Ontario and the territories is about making it easier for people, goods and ideas to move across the country,鈥� said Yukon Premier Mike Pemberton. 鈥淚t鈥檚 an important step in reducing barriers and expanding opportunities for workers, businesses and communities in the North 鈥� building on progress we鈥檝e already made.

"By working together, we鈥檙e helping ensure that the territories, including the Yukon, can fully participate in and contribute to Canada鈥檚 economy,鈥� Pemberton added.