Canada and United States sign Memorandum of Understanding for regulatory cooperation
WASHINGTON, DC, June 4, 2018 /CNW/ – Canada and the United States share a joint commitment to strong regulatory cooperation, promoting economic competitiveness and maintaining and improving high standards for health, safety and environmental protection.
Today, the Honourable Scott Brison, President of the Treasury Board of Canada, and Peter Wallace, Secretary of the Treasury Board, joined with the Honorable Mick Mulvaney, Director of the US Office of Management and Budget, and the Honorable Neomi Rao, US Office of Information and Regulatory Affairs Administrator, to reaffirm this commitment by signing a Memorandum of Understanding (MOU) for the Regulatory Cooperation Council (RCC).
This MOU also establishes a foundation for the ongoing work and growth of the RCC, which is a practical and proven bilateral forum for resolving regulatory barriers and improving business investment between Canada and the United States.
Businesses will continue to benefit from the removal of unnecessary costs and duplicate requirements, as well as better market access. Consumers can benefit from timely access to products with consistent quality and safety standards.
“The economic partnership between Canada and the United States is historic and long-standing. Strengthening that partnership is in both our countries’ interests. Working with stakeholders in Canada and the United States to find solutions to regulatory challenges will improve services and cost-efficiency, and promote innovation.”
The Honourable Scott Brison, President of the Treasury Board
- Canada and the United States share the world’s longest secure border, over which approximately 400,000 people, and goods and services worth CAD$2.5 billion, cross daily.
- Millions of good, middle-class jobs on both sides of the border depend on our partnership. In the United States alone, nearly 9 million jobs are linked to Canadian trade and investment.
- Since 2011, Canada and the US have had a mutually beneficial partnership through the Canada-US Regulatory Cooperation Council (RCC). This supports a practical, regulator-to-regulator working approach to align independent regulatory systems.
- Improving the timeliness and range of products available on the market, as well as consistent safety standards and higher product quality, are key benefits of regulatory cooperation.
SOURCE Treasury Board of Canada Secretariat