Canada’s Business Leaders Welcome Progress in Cancun, Applaud Decision to Establish North American Competitiveness Council

March 31, 2006

Senior business leaders from across Canada warmly welcomed today’s decision by the leaders of Canada, the United States and Mexico to establish a North American Competitiveness Council (NACC) that will examine ways to deepen continental cooperation and promote stronger economic growth.

“Our three countries are facing unprecedented competition from large developing economies such as China and India,” said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives(CCCE).

“As business leaders, we are strongly committed to enhancing the competitive position of North American industries in the global marketplace. The establishment of the new North American Competitiveness Council will provide an important means by which private industry can contribute ideas to improve our economies, our prosperity and our way of life.”

The CCCE is Canada’s premier business association, representing the CEOs of 150 leading Canadian corporations. The Council was the private sector leader in the development and promotion of the Canada-United States Free Trade Agreement during the 1980s and of the subsequent trilateral North American Free Trade Agreement. More recently, it has been a strong advocate of closer continental cooperation under the umbrella of the year-old Security and Prosperity Partnership of North America (SPP).

The decision to establish the NACC was among the key outcomes of this week’s North American Summit in Cancun, Mexico, involving Canadian Prime Minister Stephen Harper, United States President George W. Bush and Mexican President Vicente Fox.

In a joint statement, the three leaders said that the new Council will comprise members of the private sector from each country and will provide recommendations to the leaders on issues affecting North American competitiveness in areas such as automotive and transportation, steel, manufacturing, and services. The NACC will meet annually with ministers from each country and will engage with senior government officials on an ongoing basis.

Mr. d’Aquino also welcomed the three leaders’ commitment to deeper cooperation and collaboration in the areas of research and development, public health, energy, the environment, transportation, defence and security, and border management.

“A positive and constructive tone at the top is essential if our three countries are to move forward in defining a new and stronger North America,” Mr. d’Aquino said. “Prime Minister Harper has spoken eloquently of the need for a more mature, productive approach to relations with our southern neighbour, and this week in Cancun he showed that the bilateral relationship rests on a solid foundation of mutual respect, friendship and shared interests.”

At the same time, Mr. d’Aquino emphasized the need to make progress on two issues of great concern to Canada’s business community:  the United States’ plan to impose tougher identification requirements on cross-border travelers, and the long-running dispute over softwood lumber exports from Canada to the United States.

“The free movement of people between Canada and the United States remains a fundamental pillar of the continuing dynamic economic relationship between the two countries,” he said. “Any new impediments to travel should be limited to measures that will provide effective means of combating terrorism and crime.”

Referring to the softwood lumber dispute, Mr. d’Aquino said: “Respect for the rule of law must be a cornerstone of any enhanced relationship that strives to meet the growing demands of global competition.”

Founded in 1976, the CCCE is strongly committed to enhancing Canadian competitiveness within a more secure and prosperous North America. In 2003, the Council launched its North American Security and Prosperity Initiative, which has been credited with helping to establish the agenda for the subsequent Security and Prosperity Partnership of North America. Last month, the Council put forward a broad range of proposals for enhancing Canadian productivity and competitiveness in a paper titled From Bronze to Gold:  A Blueprint for Canadian Leadership in a Transforming World.

Member CEOs of the Council lead companies that collectively administer close to $3 trillion in assets, have annual revenues of more than $650 billion, and are responsible for the vast majority of Canada’s exports, investment, research and development, and training.

In addition to Mr. d’Aquino, the members of the CCCE’s Executive Committee are: Chairman Richard L. George, President and Chief Executive Officer of Suncor Energy Inc.; Honorary Chairman A. Charles Baillie; and Vice-Chairmen Dominic D’Alessandro, Paul Desmarais, Jr., Jacques Lamarre, Gordon M. Nixon and Hartley T. Richardson, the chief executives respectively of Manulife Financial, Power Corporation of Canada, SNC-Lavalin Group Inc., Royal Bank of Canada and James Richardson & Sons, Limited.