Leaders of the United States, Canada and Mexico agreed Wednesday to deepen their integrated supply chains and work together to enhance North America's competitiveness.
In a joint statement, US President Barack Obama, Canadian Prime Minister Stephen Harper and Mexican President Enrique Pena Nieto pledged to work closely on matters related to international trade, so that "our integrated supply chains are deepened and strengthened."
The statement, issued at the 7th North American Leaders' Summit here in Mexico, also highlights the development of a North American Competitiveness work plan, which focuses on investment, innovation and increased private sector engagement in the region.
"We seek to set new standards for global trade through the prompt conclusion of a high standard, ambitious, and comprehensive Trans-Pacific Partnership, as we promote further trade liberalization in the Asia -Pacific region," the statement said.
The three leaders also agreed to create a "North American Trusted Traveler Program," which would streamline procedures and harmonize customs data requirements for traders and visitors.
The existing bilateral border mechanisms will also be leveraged to enhance safe border movement of goods across North America and promote trilateral exchanges on logistics corridors.
In the security area, the three heads of state promised to continue to seek "new areas of cooperation to combat drug trafficking, arms trafficking and other illegal businesses."
The three Northern American countries together produce about 30 percent of global goods and services, with their trade volume standing at more than a trillion dollars a year.
The next North American Leaders' summit will be held in Canada in 2015.