The governments of the Northwest Territories and Alberta have signed a memorandum of understanding to collaborate on the creation of economic corridors that will promote growth and development in both regions.

The agreement was announced by the Government of Alberta in a July 3 news release. 

"Today's memorandum of understanding with Alberta marks a key step in our efforts to enhance coordination on economic corridors between our two jurisdictions," NWT Deputy Premier Caroline Wawzonek said. "This collaboration underscores our desire to support regional connectivity, enhance transportation routes, and deliver reliable energy solutions, fostering sustainable growth for our communities. By working together, we can ensure lasting benefits for Northwest Territories and Alberta residents as well as the broader economy."

The hope is that the agreement will benefit both regions in multiple ways. It aims to "enhance critical infrastructure and improve the efficiency of inter-jurisdictional transportation networks." It also aims to "reduce red tape and regulatory hurdles for commercial vehicles travelling between Alberta and the Northwest Territories," the news release states. 

It will also see the two jurisdictions work together to enhance road and bridge networks, with the goal of easing the movement of resources like the NWT's critical minerals and Alberta's energy products. 

In addition, it will "improve AlbertaSA国际影视传媒檚 access to the Arctic" in the hopes of expanding exports, and "identify opportunities to attract private sector investment and partner with Indigenous communities on economic corridor development."

The two jurisdictions will also work collaboratively to encourage the federal government and other transportation stakeholders to advance their mutual transportation priorities.

"Working together with Alberta to improve connectivity and enhance collaboration on economic corridors creates new opportunities to showcase our territory and to contribute our wealth of critical minerals into the North American critical mineral value chain," said Caitlin Cleveland, the NWT's minister of Industry, Tourism and Investment. "Economic corridors are essential to attract investment, create jobs, and promote sustainable development, ensuring a vibrant and prosperous future for all."