Related News: "North American Security and Prosperity"
Thomas d’Aquino Defends The NAFTA And Calls For Stepped-up Efforts To Enhance North American Competitiveness
Extolling the importance and the achievements of the North American Free Trade Agreement (NAFTA), the Chief Executive of the Canadian Council of Chief Executives, Thomas d’Aquino, said in an Ottawa address today that the NAFTA has had a profoundly positive impact on North American trade and investment flows, and has been a powerful catalyst in enhancing the competitiveness of the continent.
“By reducing barriers to trade, spurring investment, accelerating cross-border business cooperation and efficiencies and advancing innovation and better-paying jobs, the NAFTA has delivered concrete results,” Mr. d’Aquino said.
Since the NAFTA went into effect in 1994, trilateral trade among the three partners has tripled, reaching about $1 trillion annually. The NAFTA has fostered economic growth by encouraging competition in domestic markets and promoting investment from both domestic and foreign sources.
“But despite the hard evidence of the NAFTA’s successes, the pact is being subjected to vitriolic attacks, especially in the United States, by a bevy of protectionists, isolationists and political opportunists who are exploiting the current American economic malaise,” Mr. d’Aquino said.
The CCCE Chief Executive reminded his audience of visiting graduate business students from universities across the United States that business leaders have a responsibility to defend … Read more »
The Chief Executive and President of the Canadian Council of Chief Executives (CCCE), Thomas d’Aquino, today expressed disappointment and dismay at the intensifying attacks in the United States on the North American Free Trade Agreement (NAFTA). A veteran advocate of continental free trade and private sector leader in advancing the Canada-United States Free Trade Agreement, Mr. d’Aquino said that anti-NAFTA rhetoric had reached disturbing levels in the contest for the United States presidency:
“I have observed many American elections and realize that in the run-up to a national vote, candidates sometimes appeal to the more extreme voices in their constituencies. But I detect more than rhetoric at work here. Protectionists in many cases are attacking the fundamentals of liberal economics, which have long been proven to offer the greatest benefits in terms of growth, job creation and improvements in quality of life.
“In the face of this onslaught, some of it based on fear-mongering and disinformation, the beneficiaries of open commerce — in particular, consumers, business people and political leaders — have remained complacent and mute.
“I full well understand the rising concerns in North America and in many parts of the world about the impact of globalization and … Read more »
Canadians Must Look Outward with Confidence, not Inward with Fear, CCCE says in Submission to the Federal Competition Policy Review Panel
Canada suffers from a culture of complacency and must revamp its public policies and intensify its corporate ambitions to be a leading global player, said Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives (CCCE).
“In a world in which people, ideas and money move with incredible speed, Canadians must look outward with confidence rather than inward with fear,” Mr. d’Aquino said in a speech to the Economic Club of Canada. His remarks coincided with the release of the CCCE’s submission to the federal Competition Policy Review Panel, which is considering Canada’s foreign investment and competition policies in light of several recent foreign takeovers of major Canadian companies.
Mr. d’Aquino noted that the recent wave of international mergers and acquisitions had stoked fears about the potential “hollowing out” of corporate Canada, including a loss of head offices and an erosion of economic sovereignty. Those concerns are understandable, yet the most effective way to handle the challenges of globalization is not to hide behind national borders but to seize the opportunities created by an open global economy. “Put simply,” Mr. d’Aquino said, “the best defence against any potential loss of economic sovereignty is … Read more »
Canadian Council of Chief Executives Elects Gordon M. Nixon as new Chair, Sets Ambitious Policy Agenda for 2007
The Canadian Council of Chief Executives (CCCE) has elected Gordon M. Nixon as its new Chair. Mr. Nixon is President and Chief Executive Officer of Royal Bank of Canada, and has served as a member of the CCCE’s Executive Committee since 2003.
At its New Year Members’ Meeting in Toronto, the Council also approved an ambitious agenda for the coming year. The central focus of this agenda will be to enhance the ability of Canadian companies to compete effectively in the global marketplace and to help shape a domestic policy environment that gives primacy to sound economics and good governance.
The CCCE is Canada’s premier business association, with an outstanding record of achievement in matching entrepreneurial initiative with sound public policy choices nationally and globally. It is composed of 150 chief executives of major enterprises and leading entrepreneurs. Member CEOs lead companies that collectively administer $3.2 trillion in assets, have annual revenues of more than $750 billion, and are responsible for the vast majority of Canada’s exports, investment, research and development, and training.
Mr. Nixon succeeds former Chair Richard L. George, President and Chief Executive Officer of Suncor Energy Inc. Mr. George remains on the CCCE’s Executive Committee as Honorary … Read more »
Comments by Thomas d’Aquino, Chief Executive and President of the Canadian Council of Chief Executives, on the federal government’s economic and fiscal update:
“The challenges to the future prosperity of Canadians are daunting and complex. They require a broad strategy that will enable Canadians to compete and win in a rapidly evolving global economy. Today, the government has laid out a bold competitiveness roadmap that is clear, compelling and comprehensive.
“By cutting taxes, debt and red tape, by encouraging enterprises to innovate and grow and by investing in both critical infrastructure and the knowledge and skills of Canadians, the Advantage Canada strategy announced today by Finance Minister Jim Flaherty will enable Canadians to compete more effectively on every front.
“The Canadian Council of Chief Executives heartily endorses in particular the key goals laid out in the government’s competitiveness strategy, which include: making the effective tax rate on new business investment the lowest in the G-7; slashing the administrative burden of regulation by 20 percent; and encouraging more foreign investment, more competition and more business innovation.
“Business leaders also welcome the bold new goal of eliminating total government net debt by 2021. Paying interest is the worst form of public spending. … Read more »