NACC Report: Meeting the Global Challenge

Private Sector Priorities for the Security and Prosperity Partnership of North America

2008 Report to Leaders from the North American Competitiveness Council

April 2008

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Introduction

Canada, Mexico, and the United States enjoy one of the most important relationships in the world. We congratulate the Leaders of our three countries for establishing the Security and Prosperity Partnership of North America (SPP) in recognition of this special relationship. We also thank the Leaders for considering the views of the private sector on how to enhance competitiveness and strengthen the well-being of all North Americans. North America faces new challenges with changes in the global economy, and new economic giants such as China and India have become formidable competitors for investment and jobs in the manufacturing and service sectors. As more and more countries open their markets to the global economy, North America must continue to enhance its own competitiveness.

Measures to enhance the competitiveness of the North American economies have always been important even when times were good. The current period of economic uncertainty requires that we accelerate our efforts. With so much at stake, it is vital that we not be complacent. In the short term, we need to make significant progress on practical measures to cut costs, reduce barriers, and ensure that people and goods move smoothly, efficiently, and securely among our three countries. We need to think strategically about how best to reinforce each others' strengths in making North America the best place in the world in which to live, work, and do business.