Mr. Speaker, the St. Lawrence Seaway is a vital industry not only in my riding of Erie—Lincoln and the Niagara area but also for the entire country. The seaway is one of the world's busiest shipping waterways making Canada a competitive trader in the world economy.
Tomorrow history will be made when plans to establish a not for profit corporation to operate the St. Lawrence Seaway system will be implemented. This necessary step will promote economic growth by modernizing Canada's marine transport system. While the crown retains ownership of all assets, management and operation of the seaway will be assumed by a user group, the St. Lawrence Seaway Management Corporation, pursuant to the Canada Marine Act for an initial 10 year term.
This accord will ensure that the seaway continues to bring benefits to all as Canada heads into the next millennium.