We, the Leaders of North America, met today in Washington, DC to advance the economic well-being, safety, and security of the United States, Mexico, and Canada. Rooted in deep economic, historical, cultural, environmental, and societal ties, North American cooperation enhances our ability to face global challenges, compete in the international economy, and achieve greater prosperity. We reaffirm our commitment to further develop our thriving political and economic partnership with a consistent and strategic long-term vision, as progress on our common agenda directly benefits the peoples of our region.
Broad-based, sustainable economic growth and job creation remains our top priority. For the first time, in 2011 our total trilateral merchandise trade surpassed USD 1 trillion. Our integration helps maximize our capabilities and makes our economies more innovative and competitive globally. Working together, we strive to ensure that North American economic cooperation fosters gains in productivity for all of our citizens, enhancing our respective national and bilateral efforts to achieve that goal.
To that end, we pledge to introduce timely and tangible regulatory measures to enable innovation and growth while ensuring high standards of public health, safety, and environmental protection. We will continue to reduce transaction costs and improve the existing business environment. We have launched the U.S.-Mexico High-Level Regulatory Cooperation Council and the U.S.-Canada Regulatory Cooperation Council during the past two years, pursuing a shared objective that we commit to complement trilaterally in four sectors: certain vehicle emission standards, railroad safety, the Globally Harmonized System of Classification and Labeling of Workplace Chemicals, and aligning principles of our regulatory approaches to nanomaterials. This is particularly important to small- and medium-sized businesses, which are the engines of growth. By eliminating unnecessary regulatory differences, smaller businesses are better equipped to participate in an integrated North American economy. Success in these efforts opens the way to additional North American regulatory cooperation. MORE