The Presidents also committed to significantly enhance the economic competitiveness and the economic well-being of both the United States and Mexico through improved regulatory cooperation. Such cooperation can increase economic growth in each country; lower costs for consumers, businesses, producers, and governments; increase trade in goods and services across our borders; and improve our ability to protect the environment, health and safety of our citizens. To increase regulatory transparency; provide early warning of regulations with potential bilateral effects; strengthen the analytic basis of regulations; and help make regulations more compatible, the Presidents directed the creation of a High-Level Regulatory Cooperation Council, which will be comprised of senior-level regulatory, trade, and foreign affairs officials from both countries.
Innovation and investment in technology and human capital are keys to sustained economic growth and competitiveness in both Mexico and the United States. The protection of intellectual property rights is essential to promote such innovation and investment. With this in mind, the Presidents charged their administrations to work together to formalize and expand the efforts of the existing bilateral Intellectual Property Rights Working Group. These efforts will include industry training (including of small and medium size enterprises); work between Mexican Institute of Industrial Property (IMPI) and the United States Patent and Trademark Office (PTO) to streamline patent reviews; and collaboration, training and increased intelligence sharing among law enforcement agencies to enforce intellectual property rights more effectively. The Presidents also reaffirmed their commitment to the negotiation of the Anti-Counterfeiting Trade Agreement and charged their administrations to conclude these negotiations soon.