Memorandom to the Minister- Water Policy alternatives Essay

Memorandom to the Minister- Water Policy alternatives - Essay Example tegy which can balance the domestic needs of the country as well as ensure that Water can serve as one of the lucrative commodity for the country and a mean to earn foreign exchange. This memorandum therefore will provide a brief discussion on the need for having a new water strategy and what economic options may be set to effectively utilize water resources of the country in most optimal manner. Over the period of time Canada has developed a very good market for its water in international markets. However, despite the benefits which country is availing by exporting its water, there is a growing concern that if same practices are continued, the domestic needs of the country for its agriculture as well as domestic purposes may not be fulfilled. There is therefore a greater need for the development of new water strategy which can balance both the objectives and help utilize the natural resources of the country in most optimal manner. (CBC News) 1. New Policy completely put restrictions on the export of the water out of the country in order to fulfill the domestic needs and ensure sustainable levels of water availability for long run. This will however, restrict the country’s ability to generate sufficient foreign exchange and thus may put adverse impacts on its trade balance. (Raider) 2. It is also possible to discuss the possibility of implementing tariffs or quota on the export of water from the water. Imposition of the quote however may result into higher domestic prices for the water. 3. New policy may set the different price alternatives for both the domestic and export use of the water. Further, export duties shall be applied in order to make the export of Canada’s water more expensive for foreign buyers. Minister shall recommend and lobby for the development of a joint forum which can evaluate the domestic needs for the water and develop set of recommendations which can provide a balance assessment of demand and supply of water and how excess water