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APEC Sees Fundamental Change in Atlantic Canada's Economy Date: April 8, 2010 Atlantic Canada's industrial structure is transforming as the region emerges from the recession according to the Atlantic Provinces Economic Council's (APEC) latest edition of Atlantic Report. The report also identifies the role that technology and human capital need to play in improving the region's productivity performance. "The seemingly relentless process of globalization is pivotal in reshaping the economy of Atlantic Canada," said APEC President Elizabeth Beale. "Many manufacturers have found it difficult to adjust, especially in industries which are exposed to continual pressure from lower cost competitors."
Although globalization has hit the resource sector hard, many newer industries in Atlantic Canada are finding opportunities in an increasingly global economy including information and communication technologies, biosciences and aerospace and defence.
"Improving productivity performance to meet the challenges of the global economy can be thought of as Atlantic Canada's defining challenge," said Beale. "However in order to raise the bar further, policies need to be strengthened in two crucial areas - investing in new technologies and in human capital."
Continuing concentration of employment in services and the ensuing flow of jobs and population into urban areas are trends that are likely to dominate in Atlantic Canada's evolution over the coming decade.
The Atlantic Provinces Economic Council is an independent think-tank dedicated to economic progress in Atlantic Canada. APEC is a trusted source of analysis and advice on current and emerging trends in the region's economy. Please visit our website for more information: www.apec-econ.ca
For a copy of the Atlantic Report or to arrange an interview, please contact:
Donal Power, APEC Communications Coordinator
902-422-6516 ext. 229
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