Ontario is open for business and open for jobs, and explored opportunities for greater economic growth, trade and job creation yesterday with Québec.
The Minister of Economic Development, Job Creation and Trade, and the Québec's Minister of Economy and Innovation, held their first official meeting in Toronto. They jointly discussed interprovincial trade opportunities directly with businesses at a fireside chat hosted by the Toronto Region Board of Trade and participated in a roundtable discussion with representatives from across a number of key sectors.
Reaffirming a positive and productive relationship between Ontario and Québec, the ministers discussed progress on the Evolution of Networked Services through a Corridor in Québec and Ontario for Research and Innovation (ENCQOR 5G) — a digital infrastructure project that has built the country's first pre-commercial 5G wireless network for open innovation. Applications are being accepted in both provinces encouraging small- and medium-sized businesses to explore cutting-edge opportunities in 5G.
Ontario and Québec have enjoyed close economic ties as each other's top interprovincial trading partners, and represent the two largest economies in the country. By working together to explore greater economic cooperation, Ontario and Québec will expand their export capacity and cooperate in areas of joint interests.
In 2017, Ontario and Québec accounted for more than 58.2% of Canada's gross domestic product (GDP). Both provinces accounted for less than 60% of most Canadian trade indicators, resulting in 58.4% of total goods and services exports, 57.6% of total goods and services imports, and 58.0% of total goods and services trade.