OTTAWA, ONTARIO--(Marketwire - Nov. 16, 2012) - The Canadian Northern Economic Development Agency (CanNor) today signed a Memorandum of Understanding (MOU) with the Kitikmeot Inuit Association (KIA), confirming both parties' commitment to advance responsible resource development while promoting regional benefits in the Kitikmeot region of Nunavut.
Under this MOU, CanNor and the KIA will coordinate their efforts so that Inuit of the Kitikmeot region are best prepared to participate in and benefit from major resource and regional infrastructure projects. CanNor is putting in place MOUs as part of its overall efforts to foster a sustainable and dynamic economy for Northerners. Through its Northern Projects Management Office (NPMO), CanNor and the KIA together will identify the potential opportunities and challenges to participating in major projects, and map out a plan so that the region can grow and prosper as a result of their involvement in major projects.
"CanNor is pleased to be working in partnership with the KIA," said Patrick Borbey, President of CanNor. "This is the first MOU that we have signed, and these types of collaborative tools will help us all to maximize the opportunities flowing from resource development projects."
"Participating with CanNor in this MOU is an exciting development for our region," said Charlie Evalik, President of the KIA. "NPMO will help us accomplish our vision of ensuring Inuit benefit from resource development."
The Kitikmeot region of Nunavut is rich with natural resources. With 4 major projects set to enter the environmental assessment system in the coming 18 months, the success of these projects represents nearly $4 billion in capital investment and over 2,000 long-term jobs for the region.
The NPMO, as part of CanNor, has a mandate to improve the timeliness, predictability and transparency of regulatory processes in the North to help create a more stable and attractive investment climate in the territories. CanNor fosters northern economic development through funding programs, providing project management services, leveraging the federal role in the North, serving as a champion for northern interests, and undertaking policy and research.
For copies of CanNor news releases, visit: http://www.cannor.gc.ca.
For more information on Canada's Northern Strategy, visit: www.northernstrategy.ca.