NAFTA Commission Meeting in Washington Issues Statement for Continued Cooperation
Trade has more than tripled from $288 billion to $1 trillion since NAFTA was signed in 1994
The NAFTA Commission Meeting held on April 3rd in Washington DC issued a joint statement that outlines continued cooperation of Canada, the U.S. and Mexico to increase economic competitiveness and trade among the 3 nations. Since NAFTA was signed in 1994 trade has more than tripled from $288 billion to $1 trillion.
Among the significant agreements reached at this meeting are to continue to combat challenges to Intellectual Property Infringement (IPR) to fight piracy and counterfeiting. The U.S. and Canada are among the six countries that have joined the Anti-Counterfeiting Trade Agreement (ACTA). Mexico is in the process of working on comprehensive reform to its legal system to enable it to achieve the high standards pursued under ACTA.
A focus of this meeting was the challenges faced by small and medium enterprises (SMEs), including lack of access to information and reducing unnecessary barriers and costs for these enterprises.The U.S. and Mexico are linking these SMEs for trade opportunities through the Small Business Development Centers (SBDCGlobal.com). Canada will consider joining this network.
The Working Group on Rules of Origin (WGRO) reached agreement on a fourth set of changes to the NAFTA Rules of Origin. These changes will be implemented as soon as possible and will further facilitate trade between the three countries. To further increase trade, the commission agreed to pursue sectoral cooperation in areas such as trade in chemicals. Working committees will address ways to reduce differences in regulations and procedures, which can reduce transaction costs.
Mexico and Canada also indicated their strong interest in joining the Trans-Pacific Trade Partnership (TPP), a move that was welcomed by the U.S. The TPP to date includes Australia, Brunei, Darussalam, Chile, Malyasia, New Zealand, Peru, Singapore, Vietnam and the U.S. As of 2010, Mexico had signed 11 free trade agreements, covering trade with 41 countries.
NAPS is a premier provider of shelter services and ongoing administration for companies from the US, Canada, Europe and Asia which operate in the northwest of Mexico. NAPS performs a comprehensive analysis in November and December of each year to determine NAFTA eligibility and ascertain that all back-up documentation and corresponding Certificates of Origin are in order. NAPS consults with clients to find the optimum solutions for managing their import-export operations, whether it be electing NAFTA or eligibility under programs such as HTS 9802, which allows for duty free entry for repairs and alterations.
Monica Hanono
Industry Liaison & Marketing Analyst
monica.hanono@napsmexico.com
phone: 858-794-7947
toll free: 800-551-8581
About NAPS
NAPS is a premier shelter company in Mexico providing start-up and ongoing administration for companies manufacturing in Mexico. NAPS facilitates the relocation and expansion of labor intensive processes mainly along the border region of Mexico. Since 1991, NAPS has played a key role in ensuring the success of 70 Mexico manufacturing operations including: Esterline, Hewlett Packard, Intuitive Surgical, JAE, Monster Cable, Parker Hannifin, Speck Products, Toyota & Qualcomm. For more info about NAPS and the shelter services in Mexico we offer please visit www.napsmexico.com
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