HIGH LEVEL ECONOMIC DIALOGUE FACT SHEET
The United States of America and United States of Mexico recognize the importance of their economic and strategic partnership and seek to rebalance the relationship by elevating the commercial dimension. We are critical strategic allies and partners, and share a 2,000 mile border. Our deeply integrated economies generated more than $500 billion in two-way trade, which supports millions of jobs in both countries. Our economies reflect a high degree of coproduction and supply chain connectivity as well as significant cross-border investments. The United States and Mexico, together with Canada, comprise one of the most successful economic platforms in the world. Our competitiveness depends on the continuation and deepening of our economic and commercial cooperation. To further elevate and strengthen this dynamic commercial and economic relationship, the United States and Mexico agreed to create a High Level Economic Dialogue (HLED). This mechanism will focus on strategic economic and commercial priorities central to promoting economic growth, job creation, and competitiveness. It will reinforce and avoid duplicating existing bilateral dialogues and will provide a flexible theme-based approach to facilitate the elevation of a range of issues, as appropriate.
Regional and global engagement under the HLED will also help foster greater alignment and cooperation on issues of shared concern and international fora, including in the Trans-Pacific Partnership Agreement, Asia Pacific Economic Cooperation, and the G20.
HLED activities will be organized around three broad themes:
- Promoting Competitiveness and Connectivity
- Fostering Economic Growth, Productivity, Entrepreneurship, and Innovation
- Partnering for Regional and Global Leadership
While the HLED agenda is still under discussion, key issues for consideration include ways to promote competitiveness through enhanced cooperation in specific sectors that connect our economies. Identifying ways to promote entrepreneurship and innovation, and strengthen economic development along are shared borders are critical to fostering economic growth. Creating opportunities for investment in our countries, encouraging innovation, and working with cities and states to help them realize their full economic potential are critical to our economic well-being. Given the integrated nature of our economies, we will partner to address market barriers in third countries and identify ways to cooperate further on standards and regulations to promote trade and eliminate unnecessary barriers.
I. Promoting Competitiveness and Connectivity
- Collaborating on air transportation, telecommunications, and renewable energy
- Promoting tourism to the U.S. and Mexico in overseas markets
- Engaging in trade facilitation and regulatory cooperation efforts
II. Fostering Economic Growth, Productivity and Innovation:
- Working together to promote entrepreneurship
- Cooperating on economic development strategies for the border region
- Pursuing a joint investment strategy
- Enhancing innovation through promoting and protecting intellectual property
III. Partnering for Regional and Global Leadership:
- Promoting development and business growth in Central America
- Addressing market access issues in third countries
- Pursuing regional standards coordination to promote greater competitiveness
The HLED will be led at the cabinet level, meet annually, and be hosted by each government on a rotating basis. The inaugural HLED meeting will be held in the fall of 2013.
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