OTTAWA, ON, May 16, 2024 /CNW/ - Yesterday, the Honourable Anita Anand, President of the Treasury Board, concluded a series of meetings with key businesses and officials in Chicago and Washington to advance regulatory cooperation as part of Team Canada USA.

While in Chicago, Minister Anand met with cross-border businesses and hosted a roundtable with industry executives from U.S. Fortune 500 companies. Discussions provided input into ways we can help reduce red tape through ongoing efforts to revitalize the Canada – U.S. Regulatory Cooperation Council (RCC). Minister Anand also met with key industry players, including World Business Chicago to explore ways that we can work together to help support stability and resiliency in trade between businesses in Chicago and Canada.

At these meetings, Minister Anand underscored the importance of supporting economic competitiveness and prosperity for businesses on both sides of the border to support stability for business and reduce cost for consumers across various sectors.

In Washington, Minister Anand hosted a roundtable with over 20 businesses to hear from them about red tape getting in the way of regulatory cooperation and how that discussion can help strengthen the economies of both countries. As the biggest trading partners with over $3.3 billion worth of goods and services crossing the border each day, Minister Anand reiterated the uniqueness of the trade relationship between Canada and the U.S.

Minister Anand also met with her United States counterpart, Shalanda Young, Director of the Office of Management and Budget (OMB). As Minister Anand reiterated that "business just wants to do business and we need to make it easier for them to get it done," they discussed the need for continued engagement on regulatory cooperation to enhance cross-border trade and investment. Both sides agreed on the need to identify opportunities for further alignment and cooperation between Canada and the U.S. as Director Young expressed her optimism in cooperation with Canada, "We have shared values. And speaking to, and working with, a country like Canada to demonstrate those shared values makes good practical sense. I'm looking forward to making strategic decisions on this."

A bilateral meeting was also held between Minister Anand and Ambassador Kirsten Hillman, where they discussed the overall Team Canada USA strategy to continue fostering economic growth for both countries.

To help further remove red tape and address regulatory barriers, Budget 2024 announced the government's intent to introduce amendments to the Red Tape Reduction Act to broaden the use of regulatory sandboxes across government. The changes will enable innovation by offering limited exemptions to existing legislation and regulations, streamlining the regulatory system, and reforming regulations to modern business realities.

Coming back home to Canada, Minister Anand will redouble our efforts to reduce red tape and to reignite the Canada-U.S. Regulatory Cooperation Council in hopes of saving Canadian businesses billions of dollars and advancing mutual recognition efforts.

• Canada-United States Relations
• Regulatory Cooperation
• Canada-United States Regulatory Cooperation Council

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SOURCE Treasury Board of Canada Secretariat