International Regulatory Cooperation (IRC)

International Regulatory Cooperation (IRC) refers to the collaboration between countries to harmonize and align their regulatory practices. This cooperation helps ensure that regulations governing areas like trade, safety, health, and the environment are consistent across borders. By working together, countries can reduce trade barriers, share best practices, and address global challenges more effectively. IRC aims to create a more predictable regulatory environment, fostering international trade and investment while safeguarding public interests. Ultimately, it enhances mutual understanding and trust among nations, facilitating smoother interactions in an increasingly interconnected world.