Trilateral Security and Prosperity Partnership Will Boost Jobs and Investment, Say Canada’s CEOs

March 23, 2005

The new Security and Prosperity Partnership of North America launched today in Texas by Prime Minister Paul Martin, United States President George W. Bush and Mexican President Vicente Fox is a bold step forward that will produce real gains for people in all three countries, say Canadian business leaders.

“The comprehensive agenda laid out by the three leaders represents a quantum leap forward for the continent, one that will improve the safety and economic wellbeing of Canadians and of our neighbours in North America,” said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE). “The new partnership agreement moves the North American agenda forward in a multitude of concrete and practical ways that add up to an ambitious vision for the future of our continent.”

The CCCE, which is composed of the chief executive officers of 150 leading Canadian enterprises, launched aNorth American Security and Prosperity Initiative in 2003.  In a discussion paper published in April 2004, titledNew Frontiers, the CCCE proposed building a 21st century partnership for North America based on five pillars: reinventing borders, maximizing regulatory efficiencies, enhancing energy and resource security, strengthening the defence and security alliance, and forging new institutions to improve management of the relationship.

All five of these pillars are reflected in the security and prosperity agenda unveiled by the leaders today, Mr. d’Aquino said.  Among the many measures that have been announced, the most important include:
• Increasing the range of goods on which the three countries charge a common external tariff, reducing the impact of cumbersome rules of origin required on many goods to qualify for tariff-free trade under the North American Free Trade Agreement and enhancing trilateral cooperation in key sectors such as autos, steel, transportation, energy and financial services;
• Improving North America’s competitiveness through greater regulatory cooperation, including measures to make rules and standards more compatible and to eliminate redundant testing and certification;
• Strengthening North America’s energy markets and increasing supply by working together to facilitate investment, streamline regulatory processes and develop new technologies for production, energy efficiency and conservation;
• Taking the North American security strategy to a new level that will include the screening of overseas travellers and cargo shipments prior to departure and at first point of entry to North America, improvements to bioprotection, maritime, port and aviation security, greater intelligence sharing, a common approach to critical infrastructure protection and further steps to improve the legitimate flow of people and goods within North America;
• Beefing up the institutional capacity of the North American partnership by setting up minister-led working groups that will report back within 90 days and will meet regularly to ensure a “rolling harvest of accomplishments” in implementing the security and prosperity agenda.

“By working together to improve the safety and competitiveness of North America, our three countries will be able to do far more to improve the lives of their citizens than if they tried to move forward alone.  While a few sceptics may try to downplay today’s accomplishments, I think there is no doubt, as Prime Minister Martin has recognized, that the ambitious agenda laid out in this agreement certainly represents big progress, for Canada and for everyone in North America,” Mr. d’Aquino said.

The CCCE, founded in 1976, was the Canadian 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. 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, Gwyn Morgan and Gordon Nixon, the chief executives respectively of Manulife Financial, Power Corporation of Canada, SNC-LAVALIN Group Inc., EnCana Corporation and Royal Bank of Canada.