Secretary Pritzker and Canadian Partners Discuss Increasing Investments on Both Sides of the Border

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United States Department of Commerce Nov 04, 2014

During a two day trip to Ottawa and Toronto, Canada, Secretary Penny Pritzker met with Canadian Minister of Industry James Moore and Minister of International Trade Ed Fast to discuss U.S. – Canada trade relations and ways our countries can enhance commercial and economic competitiveness.  

During her stop in Ottawa, Secretary Pritzker also delivered the keynote address at an event hosted by the American Chamber of Commerce in Canada, where she emphasized expanding bilateral and North American growth and competitiveness through increased trade, investment, and innovation. She also reaffirmed North America’s commitment to completing the Trans-Pacific Partnership (TPP), a high-standard trade agreement that opens new markets across the Asia-Pacific to goods and services made in the United States, Canada and Mexico.

Secretary Pritzker also took a moment during her trip to acknowledge the gruesome attack last week in Canada, and offered condolences to the families of Corporal Nathan Cirillo and Warrant Officer Patrice Vincent as well as the people of Canada.

The U.S.-Canada bilateral commercial relationship is the largest and most successful in the world.  In 2013, the United States and Canada generated $736 billion in bilateral trade, which breaks down to more than $2 billion a day, or $23,000 every second, making it one of our most efficient, integrated and dynamic partnerships in the world.

Secretary Pritzker underscored the Administration’s commitment to achieving meaningful progress on increasing U.S.-Canada trade through the Beyond The Border (BTB) initiative and the Regulatory Cooperation Council (RCC). Both the BTB initiative and the RCC would reduce unnecessary barriers to trade which is a critical component to U.S.-Canada trade relations and competitiveness.

Today, Canada and Mexico are the United States’ first and third largest trading partners.  Each day, the United States conducts $3.5 billion in trade with our neighbors to the north and south, comprising the largest free trade area in the world. In the 20 years since the North American Free Trade Agreement (NAFTA) went into effect, there has been great progress.  However, to make North America the strongest economic region in the world and a more attractive place for businesses abroad to grow and invest, we must advance the North American competitiveness agenda and ensure that our governments are creating the conditions to support jobs and promote economic growth.