The American Chemistry Council (ACC), Chemistry Industry Association of Canada (CIAC) and the Mexican Chemical Industry National Association (ANIQ) have outlined the chemical industry’s priorities for a potential renegotiation of the North American Free Trade Agreement (NAFTA).
Over the past two decades, the North American Free Trade Agreement has provided enormous benefit for the chemical sectors in Canada, Mexico and the United States. NAFTA has facilitated expanded economic growth, job creation and enhanced North American competitiveness in the global marketplace. Since NAFTA entered into force, trade in chemicals between NAFTA countries has more than tripled from $20 billion in 1994 to $63 billion in 2014.
Although NAFTA has delivered important gains for the chemical sector in North America, it could have an even larger impact if it reflected progress in regulatory, customs, transportation, and communication practices and procedures.
In addition to streamlining burdensome customs procedures and upgrading infrastructure and transportation logistics, the North American chemical industry, represented by CIAC, ANIQ and ACC, has advocated for a modernized NAFTA to include enhanced regulatory cooperation commitments from all three jurisdictions. A more efficient and effective North American regulatory environment would provide a significant boost to innovation, growth and jobs while ensuring regulatory objectives are achieved to increase the overall health and safety of end-use products.
The North American region has an opportunity to play a leadership role in demonstrating the value and practicality of new chemical regulatory approaches. A modernized NAFTA could set a global precedent as a model for a riskand science-based approach to chemical regulation.
For more information, visit www.Americanchemistry.com or call (202) 249-7000.