(OTTAWA) – July 8, 2020 – The economic fallout from COVID-19 has brought into focus the need to strengthen supply chain resiliency. Work by Statistics Canada and the Canadian Chamber of Commerce through the Canadian Survey on Business Conditions found widespread COVID-19 disruptions to supply chains. A key finding was that only 16.8% of companies reported no disruption to their supply chains, while just over half of business reported an inability to move goods due to disrupted supply chains.
However, supply chain resiliency cannot take a monolithic approach. The needs for each sector of the Canadian economy are different. The principle of advancing national interests should be what guides the federal and provincial government’s approach to supply chains in the context of our market-oriented economy, where government does not control supply chains but instead incentivizes private sector behaviour.
Those national interests include the need to have a sufficient base in critical industries, ensure a reliable flow of consumer products and business inputs, and the ability to be involved in global supply chains. Additionally, our approach to supply chains needs to include services alongside the traditional focus on physical goods. The role of services includes not only R&D and engineering, but also after-sales servicing and enablers such as financing and transportation.
Taking tangible steps also requires government to think holistically about domestic and international policy measures to increase supply chain resiliency and ensure our country can weather economic disturbances in order to remain competitive. The attached document outlines actions that need to be undertaken as a matter of urgency to bolster our economic security.
Canadian Chamber of Commerce
Alberta Chamber of Commerce
Atlantic Chamber of Commerce
BC Chamber of Commerce
Fédération des chambres de commerce du Québec
Manitoba Chamber of Commerce
NWT Chamber of Commerce
Ontario Chamber of Commerce
Saskatchewan Chamber of Commerce
Yukon Chamber of Commerce
About the Canadian Chamber of Commerce – Because Business Matters
The Canadian Chamber of Commerce helps build the businesses that support our families, our communities and our country. We do this by influencing government policy, by providing essential business services and by connecting businesses to information they can use, to opportunities for growth and to a network of local chambers, businesses, decision-makers and peers from across the country, in every sector of the economy and at all levels of government, as well as internationally. We are unapologetic in our support for business and the vital role it plays in building and sustaining our great nation.
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