Issue link: http://clhia.uberflip.com/i/821274
16 ANNEX: LIST OF CLHIA RECOMMENDATIONS TO PROMOTE TRADE IN LIFE AND HEALTH INSURANCE Domestic regulatory regime 1. When developing regulations, Canada's regulators should be mindful of the need for Canadian insurers to be competitive internationally and ensure that capital and other regulatory requirements are no more onerous than is necessary to meet prudential objectives. International Trade Agreements 2. Canada should ensure that its international trade agreements include a strong focus on the financial services sector. In cases where existing FTAs do not have coverage for the services sector, efforts should be made to update them. 3. Canada should continue to make free trade agreements a priority. Canadian officials should continue to work with their trade partners to ensure that ongoing negotiations such as the TiSA and the Canada-India FTA maintain momentum. In all cases, these agreements should include a significant and robust financial services component. Establishing Cohesive, Transparent and Effective International Trade Rules 4. Aside from the standard elements of FTAs, Canadian FTAs should also cover emerging trade issues such as the cross-border flow of information and rules governing the commercial operations of State Owned Enterprises. Improved Metrics 5. The Canadian government should allocate sufficient resources to ensure that Statistics Canada is able to improve its collection of services sector metrics. Understanding the importance of a coherent international framework for services sector metrics, Canada should continue to work with its main trading partners as well as various international organizations to improve the collection of international trade data for the services sector generally and the financial services sector in particular. Building relationships 6. Initiatives such as FSPDs and trade missions are invaluable tools and should continue to be given high priority. In order to ensure success, the business community should be fully consulted and given advanced notification of upcoming trade missions, state visitors and FSPDs.