Second, it meets the test of compliance. Our tariff reductions are on schedule. In fact, on two occasions all three members have agreed to implement tariff-phaseouts before the deadline. Third, it is advancing our broader economic interests with respect to the world economy. Fourth, and most important, it is helping the working people, families, farmers, entrepreneurs, investors and consumers of our three countries find new opportunities and enjoy higher living standards.
Much work remains ahead, of course.
The Agreement will not be fully implemented until 2008, and through our trilateral work program we must monitor the process closely and find opportunities to improve it. That is why we put in place last year a new high level oversight and policy coordination mechanism to oversee the work program, strengthening our efforts even beyond the annual Ministerial oversight. Today, we have taken steps to further improve implementation, and directed that additional work begin to make this trilateral project as successful as it should be. This is essential for us not only to take maximum advantage of the opportunities open trade in our continent creates, but to make our economies as competitive as possible with respect to other regions of the world. We must also address our disputes and disagreements forthrightly.