22 April 2005

Vancouver Port Authority, CPR to work on joint capacity development

The following article is extracted from the 22 April 2005 edition of “Canadian Transportation & Logistics”.

The Vancouver Port Authority (VPA) and Canadian Pacific Railway (CPR) have announced they have signed a cooperation agreement to work together on joint capacity development.

The agreement is a significant step forward to more fully capture expanding Asia-Pacific trade opportunities, say the companies….

CPR and the VPA have also committed to ensuring that the Port of Vancouver is the most secure port system on the West Coast of the Americas.

"We have the opportunity to harness the tremendous growth of North America’s trade with Asia. CPR has already made a $160-million commitment this year to expand our network between the Prairies and the Vancouver Gateway and will have new infrastructure in place by this fall. This agreement further provides a framework to plan future infrastructure based on new sources of growth in Asia-North America trade, " Rob Ritchie, CPR President and CEO, said….

Both the VPA and CPR acknowledge that there is a great deal more to do if British Columbia, the Prairie provinces and the rest of Canada are to fully embrace the economic opportunities presented by Asia-Pacific trade.

The two organizations say they will advocate a policy framework in Canada that fosters private sector investment in an integrated transportation system including marine, rail, road and air….