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HIGH LEVEL ECONOMIC DIALOGUE - INITIATIVE FACT SHEETS
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Regulatory Cooperation: Fact Sheet |
Why is Regulatory Cooperation Important?
Regulatory cooperation can increase economic growth in each country; lower costs for consumers, businesses, producers, and governments; increase trade in goods and services across our borders; and improve our ability to protect the environment, health, and safety of our citizens.
Our Current Work
In 2010, the Presidents of Mexico and the United States committed to significantly enhance the economic competitiveness through improved regulatory cooperation, which led to the creation of the High-Level Regulatory Cooperation Council (HLRCC). The council is comprised of senior-level regulatory, trade, and foreign affairs officials from both countries. Its goals include making regulations more compatible, increasing simplification, and reducing burdens, increasing regulatory transparency, and simplifying regulatory requirements through public involvement. Since the creation of the HLED, the HLRCC has worked in the areas of food safety, transportation, and nanotechnology, among others. The U.S.-Mexico High Level Economic Dialogue (HLED) supports the work of the HLRCC.
In addition to the HLRCC, our countries are also working together in the area of standards and regulations. For example, the Standards Alliance, which provides capacity-building assistance to remove technical barriers to trade, has partnered with Mexico to promote good regulatory practice. The Consumer Products Safety Commission signed an agreement with Mexico’s protection agency, PROFECO, to promote toy safety. The U.S. Food and Drug Administration and the government of Mexico’s National Service for Agro-Alimentary Public Health, Safety and Quality (SENASICA) and Federal Commission for the Protection from Sanitary Risks (COFEPRIS) signed a statement of intent forming a partnership to promote the safety of fresh and minimally processed agricultural products.
A key voice in the regulatory cooperation process is the private sector. Stakeholders from industry, commerce, agriculture, and academia are important participants in this process and inform the areas in which the governments work.
Goals for 2015
Given the importance of regulatory cooperation to our bilateral economic relationship, both governments have strengthened their commitment to work together in the HLED on these issues. The HLRCC will adopt a new work plan in 2015, with the commitment to advance in strategic priorities, including energy, which will have an economic impact.
With the HLED, we prosper together.
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