There will be no high-speed rail between Vancouver and its sister Pacific Northwest cities unless the B.C. and Canadian governments finance an improved or new rail corridor north of the border, says an official with the Vancouver Board of Trade.

"It's not a pipe dream," board chief economist Bernie Mangan said of a high-speed rail link between Vancouver, Seattle and Portland.

"It could be done if there is a concerted effort by all the parties to make it happen."

Mangan was responding to a memorandum of agreement signed earlier this week by Vancouver Mayor Gregor Robertson and Portland Mayor Sam Adams, promoting high-speed rail between their cities and Seattle.

The hope is that Washington state and Oregon can get their hands on some of the $8-billion in high-speed-rail funding included in President Barack Obama's stimulus package.

But it would be up to Canadian governments to fund needed rail improvements on this side of the border, funding that would provide a welcome economic stimulus to Metro Vancouver, Mangan said.

"It is an area that needs to be investigated and we need to have both the provincial and federal governments at the table to deal with the dollars-and-cents issues."

The existing rail corridor from the border to Vancouver is built to handle heavy freight trains, Mangan said, adding that freight trains "pound the heck out of a rail line."

High-speed passenger trains such as those in Europe or Japan use dedicated tracks.

The existing corridor has other challenges, including the outdated New Westminster rail bridge and potential opposition from White Rock residents to expanded service on the rail track that cuts through their community, Mangan said.

In the short term, B.C. politicians should pursue securing a second Amtrak train from the U.S. and into Vancouver, he said.

A major roadblock to a second train is a demand by the Canada Border Services Agency to charge a $1,500 daily levy because the train would arrive outside normal CBSA working hours.

"The economic benefits we would derive and the taxes going into the federal coffers from a second Amtrak train would far outweigh the cost to customs," Mangan said.

Robertson said that he would continue lobbying the federal government to drop the $1,500 charge.

"It's such an easy step and would be a big boost for the city during these tough economic times," Robertson said in a news release. "Considering the tourism dollars a second train would bring in, it should be a no-brainer."

Robertson said he will urge city council next Tuesday to support his call for high-speed rail in the Pacific Northwest.

dward@vancouversun.com