An effective regulatory environment ensures safety while encouraging the development and adoption of innovative new products and services. The speed at which our governments responded to the COVID-19 pandemic, whether to create and launch relief programs, simplify and shorten procurement processes or expedite clinical trials, shows us that we can and must aim higher.
A high performing regulatory system should be predictable, efficient, consistent and transparent, so as not to present barriers to business investment, innovation and ultimately, economic growth and values improved outcomes that benefit Canadians.
How can our regulatory system better serve as a catalyst for new products and innovations?
- We have seen the incredible opportunity that new technologies like gene editing, AI, and nanotechnology offer. Canada is also a country of abundant natural resources, providing opportunities to leverage biotechnology in agriculture, aquaculture and forestry to increase efficiency, environmental performance and competitiveness.
How can we adopt these technologies and leverage Canada’s natural advantages?
- Implement modernized regulatory processes that are aligned globally and harmonized to attract technology to Canada in order to ensure Canada has the regulatory capacity to draw the next generation of technologies into use for and by Canadians.
- Measure the performance of regulatory process on commercializing new biotechnologies with metrics of how fast Canadians gain access to these new technologies relative to other jurisdictions. Learn more.