Competitiveness chapter summary
A competitive economy can drive a nation’s productivity and prosperity, which can lead to sustainable and inclusive economic growth. By working together, countries within a free trade zone can harmonize and coordinate across key policy areas, including infrastructure, education and training, technological readiness and innovation, in order to maximize regional competitiveness and grow their exports.
The Canada-United States-Mexico Agreement (CUSMA) will include a new chapter on competitiveness, which recognizes North America’s unique commercial ties, extensive trade flows and integrated production platform. This chapter focuses on strengthening regional economic growth, prosperity and competitiveness through the promotion of economic integration and the enhanced competiveness of the region’s exports. The chapter formalizes trilateral cooperation previously undertaken to coordinate policies and projects that advance North American competitiveness.
Note that this summary describes the competitiveness chapter, which formalizes trilateral cooperation to help advance North American competitiveness. A different chapter, known as the competition policy chapter, includes commitments addressing anti-competitive business practices.
Technical summary of negotiated outcomes: Competitiveness
- Establishes a committee on competitiveness that will consult experts and stakeholders outside of government to guide its work. The committee will develop cooperative activities to:
- incentivize production in North America;
- facilitate trade and investment;
- enhance the regulatory environment;
- encourage the swift movement of goods and provision of services; and
- respond to market developments and emerging technologies.
- More specifically, the committee is tasked with:
- information sharing to support trade and investment within North America;
- assisting traders to take advantage of CUSMA;
- providing advice and recommendations to enhance continental competiveness;
- identifying projects and policies to develop modern physical and digital infrastructure;
- considering action to combat market-distorting practices by countries outside of North America; and
- promoting trade and investment in innovation and technology.
- The committee will pay particular attention to enhancing the competitiveness of small and medium-sized enterprises and businesses led by women, Indigenous peoples, youth and minorities.
- Date Modified: