Canada's federal, provincial, and territorial ag ministers have reached an agreement on the key elements of a new agricultural policy framework.

The Canadian Agricultural Partnership, a five-year, $3 billion investment, will come into effect on April 1, 2018.

Federal Ag Minister Lawrence MacAulay made the announcement Friday morning at the conclusion of Annual Meeting of Federal, Provincial and Territorial Ministers of Agriculture held in St. John’s, Newfoundland.

"The Canadian Agricultural Partnership sets the direction for the future of the sector to help it continue to innovate, grow and prosper, and position Canada as a leader in the global economy," said MacAulay. "Together with provinces and territories, I am committed to expanding business opportunities for our Canadian producers, ranchers and processors, and strengthening the middle class."

The new framework will continue to offer a suite of Business Risk Management (BRM) programs. Governments responded to industry concerns regarding eligible coverage under AgriStability, ensuring a more equitable level of support for all producers. They have also committed to engaging in a review that explores options to improve BRM programming.

“Our government is pleased to enter this new agreement and we look forward to the anticipated growth and advancement of agriculture in Manitoba as a result of this continued partnership,” said Manitoba Agriculture Minister Ralph Eichler.  “The Canadian Agricultural Partnership will strengthen Canada’s position as a leader in the global economy and greatly enhance opportunities for the sector in our province.”

The agreement reached this week sets the stage for federal, provincial and territorial governments to conclude bilateral agreements by April 1, 2018.