| | |  Business News | October 2009 
US, Mexico, Canada Want to Iron Out Regulatory Differences
 Agence France-Presse
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October 20, 2009
Dallas, Texas – The United States, Mexico and Canada agreed Monday to look into streamlining regulatory differences to boost trade under the North America Free Trade Agreement (NAFTA).
The move was part of a workplan for enhancing "competitiveness, strengthening institutions, and communications and transparency" under NAFTA, said a statement issued after a meeting of top trade officials of the three nations in Dallas.
The 1994 NAFTA trade pact created the largest trading bloc in the world by eliminating import tariffs on goods circulating among partners Canada, the United States and Mexico.
"Since all tariff cuts under the agreement have been implemented, we asked officials to pursue cooperation in other areas, including reducing unnecessary regulatory differences to ensure the free flow of goods, services and capital through modern and efficient borders," the statement said.
"This forward-looking workplan should draw upon the work already underway, as well as incorporate new elements, developed in consultation with all relevant stakeholders," it added.
US Trade Representative Ron Kirk, Mexico's Secretary of Economy Gerardo Ruiz Mateos and Canada?s Trade Minister Stockwell Day also agreed to establish an ad hoc working group to explore cooperation on protecting the environment.
"Climate change is one of the most daunting and pressing challenges of our time and a solution requires ambitious and coordinated efforts by all nations," they said.
"Given the integrated nature of our three economies, we underline the importance of working together."
They wanted an agreement "at the working level" by early next year for liberalization of NAFTA rules to step up trade on environmental goods.
Since the free trade agreement, trade among the NAFTA countries has more than tripled, from 297 billion dollars to 946.1 billion dollars in 2008.
"Each day the NAFTA countries conduct nearly 2.6 billion dollars in trilateral trade. We are committed to developing new and creative ways to promote trade," the ministers said.
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