HOUSTON (ICIS)--The Chemistry Industry Association of Canada (CIAC) along with its US and Mexican counterparts have updated the advice they are providing to the teams renegotiating the North America Free Trade Agreement (NAFTA), CIAC said on Monday.
CIAC said that itself, along with the American Chemistry Council (ACC) and Mexico’s Asociacion Nacional de la Industria Quimica (ANIQ), updated their statements made in March in regards to rules of origin and regulatory cooperation.
The statement for updated rules of origin includes specifics on methods for determining origin, duty drawback and minimal operations not sufficient to confer origin, among others.
The updated statements, which were issued on 7 September, will benefit all three NAFTA countries, the group said.
CIAC CEO Bob Masterson said that the recommendations made by the chemical groups will encourage regulatory harmonisation. This will protect people and the environment throughout the region without stopping innovation or competition in the chemical industry.
Trade in chemicals between NAFTA countries has increased from $20bn in 1994 to $63bn in 2014, the group noted.
CIAC added that representatives from all three trade groups will be meeting with the NAFTA negotiating teams on the margins of the upcoming third round of negotiations, scheduled to be held in Canada in late September.