ANCHORAGE, Ala. — The province of Alberta has inked a deal with Alaska to work together in the areas of energy and transportation.

A memorandum of understanding was signed by Alberta Premier Ralph Klein, and Alaska Governor Tony Knowles, on June 4.

“This agreement paves the way for Alberta and Alaska to cooperate in a variety of areas,” says Klein. “With Alaska’s northern climate, entrepreneurial spirit, natural resources and vast energy reserves, there are amply opportunities for us to work together.”

Alaska is a significant export market for Alberta, with trade between the two regions averaging $112.7 million a year between 1996 and 2001. Construction and mining machinery, refined petroleum products and prefabricated buildings are among the most heavily traded commodities.

“Both Governor Knowles and Premier Klein recognize the benefits of working together across borders,” says Halvar Jonson, Minister of Alberta International and Intergovernmental Relations. “Alberta has a great track record at creating strong cross-border working relationships with U.S. states and I’m convinced this will be yet another excellent example of cooperation.”

Alberta has memorandums of understandings in place with other states as well, including Montana and Idaho.

The agreement calls on officials from Alberta and Alaska to meet annually to discuss trade opportunities and resolve conflicts before they escalate.

“Avoiding formal methods of dispute resolution saves time and eliminates unwanted costs for everyone involved,” says Klein. The agreement will be reviewed annually.