1. The Parties agree that cooperation and information exchange on issues in connection with biotechnology products are of mutual interest. Such cooperation and exchange of information shall take place in the bilateral dialogue on agricultural biotech market access issues of mutual interest which was established by the Mutually Agreed Solution reached on 15 July 2009 between Canada and the European Union following the WTO dispute European Communities – Measures Affecting the Approval and Marketing of Biotech Products WT/DS292. The bilateral dialogue covers any relevant issue of mutual interest to the Parties, including:
(a) biotechnology product approvals in the territory of the Parties as well as, where appropriate, forthcoming applications for product approvals of commercial interest to either side;
(b) the commercial and economic outlook for future approvals of biotechnology products;
(c) any trade impact related to asynchronous approvals of biotechnology products or the accidental release of unauthorised products, and any appropriate measures in this respect;
(d) any biotech-related measures that may affect trade between the Parties, including measures of Member States of the European Union;
(e) any new legislation in the field of biotechnology; and
(f) best practices in the implementation of legislation on biotechnology.
2. The Parties also note the importance of the following shared objectives with respect to cooperation in the field of biotechnology:
(a) to exchange information on policy, regulatory and technical issues of common interest related to biotechnology products, and, in particular, information on their respective systems and processes for risk assessments for decisionmaking on the use of genetically modified organisms;
(b) to promote efficient science-based approval processes for biotechnology products;
(c) to cooperate internationally on issues related to biotechnology, such as low level presence of genetically modified organisms; and
(d) to engage in regulatory cooperation to minimise adverse trade impacts of regulatory practices related to biotechnology products.