December 12, 2019
The Chemistry Industry Association of Canada (CIAC) is pleased to see that Canada, the United States and Mexico have concluded final negotiations on the CUSMA agreement – an agreement designed to level the playing field and grow the economies of all three nations.
While further study is needed to assess the final arrangements agreed upon today, CIAC believes that common environmental and labour standards between our North American counterparts are vital to a successful trading relationship.
“More than two years of hard work by individuals from all three countries have proved to be a major step forward for trade in North America,” said Bob Masterson, President and CEO of CIAC. “The actions that will be taken to improve regulatory cooperation between Canada, the U.S., and Mexico will deepen the integration that exists in the chemicals supply chains in all three countries which will go a long way to attracting new investment to the continent’s chemistry sector.”
The chemistry industry is one of the most internationally traded sectors in the world; in 2018 CUSMA partners traded approximately $70 billion worth of chemistry products according to the American Chemistry Council (ACC).
A strong and open trading relationship with our North American neighbours is the cornerstone of Canada’s economy and for the continued success of the chemistry sector. The trilateral trade agreement between the three countries will help attract investment and continue to develop an efficient, highly integrated chemicals supply chain across North America.
We would like to thank our Canadian, American and Mexican trade officials and elected representatives for all their hard work over the last two and a half years.