The objectives of regulatory cooperation include to:  

(a) contribute to the protection of human life, health or safety, animal or plant life or health and the environment by:
     (i) leveraging international resources in areas such as research, pre-market review and risk analysis to address important regulatory issues of local, national and international concern; and
     (ii) contributing to the base of information used by regulatory departments to identify, assess and manage risks;

(b) build trust, deepen mutual understanding of regulatory governance and obtain from each other the benefit of expertise and perspectives in order to:
     (i) improve the planning and development of regulatory proposals;
     (ii) promote transparency and predictability in the development and establishment of regulations;
     (iii) enhance the efficacy of regulations;
     (iv) identify alternative instruments;
     (v) recognise the associated impacts of regulations;
     (vi) avoid unnecessary regulatory differences; and
     (vii) improve regulatory implementation and compliance;

(c) facilitate bilateral trade and investment in a way that:
     (i) builds on existing cooperative arrangements;
     (ii) reduces unnecessary differences in regulation; and
     (iii) identifies new ways of working for cooperation in specific sectors; or  

(d) contribute to the improvement of competitiveness and efficiency of industry in a way that:
     (i) minimises administrative costs whenever possible;
     (ii) reduces duplicative regulatory requirements and consequential compliance costs whenever possible; and
     (iii) pursues compatible regulatory approaches including, if possible and appropriate, through:
          (A) the application of regulatory approaches which are technology-neutral; and
          (B) the recognition of equivalence or the promotion of convergence.