Politicians from Alberta and British Columbia will spend most of Friday putting together a long-awaited agreement to allow workers, transport trucks and charter buses to travel freely between the provinces.

At a joint cabinet meeting in Edmonton, they will try to remove impediments across all sectors, including investment, energy research, labour mobility, transportation and agriculture.

Premier Ralph Klein, who will take part in the talks along with B.C. Premier Gordon Campbell, said it makes good economic sense.

"Fundamentally, every time we agree to a common standard and a joint initiative, we remove another barrier to trade that costs money and productivity," Klein told CBC News.

International and Intergovernmental Relations Minister Gary Mar agreed the deal would have far-reaching implications.

"This agreement will create a 7.5-million person marketplace – which will be the second largest economic region of Canada," Mar told CBC News.

The two provinces will also start work on harmonizing occupational standards for professionals like engineers and teachers. That will allow workers to travel and work more freely between Alberta and B.C. without having to get new accreditation.

Government officials said new regulations would have to be drafted, and that it would likely be a couple years before the agreement takes effect.