The role of the private sector in these global challenges is vital. I look forward to discussing these and other issues with fellow Environment Ministers from the Americas this week. In the North, we have economies whose consumption of natural resources is at unsustainably high levels. As our economies become more closely linked, we must ensure that our close trading partners have strong, sustainable societies. It is in all our interests both to improve our understanding of the links between the environment and human health and to look for solutions together.
Trade liberalization can provide a foundation for enhanced environmental cooperation.
The many successful cooperative initiatives that have been pursued by Canada, the United States and Mexico are an example to build on. We can use economic levers to benefit the environment, such as removing subsidies that harm the environment, properly valuing our natural assets and the cost of environmental degradation, and creating markets for tradable permits to control emissions efficiently. One lesson learned since the Rio Summit is that the traditional command and control approach to environmental management has not worked in any of our domestic markets. As we build a common market in the Americas, we must ensure that it contains the right mix of sound regulations, economic instruments and voluntary initiatives. By engaging the private sector, we can foster innovation and create a marketplace of ideas and best practices that will improve the lives of people and strengthen competitiveness.