Washington, DC – The National Foreign Trade Council (NFTC) today released the following statement, welcoming an announcement by the U.S. Trade Representative that in the coming weeks the United States will participate in investment and financial services negotiations with Singapore, Chile, New Zealand and Brunei – the “P-4” group of countries.
“As an organization comprised of companies representing a broad cross section of industries that drive the U.S. economy, the NFTC applauds the initiative to deepen ties and expand the scope our economic relations with trading partners in the Asia-Pacific region,” said NFTC President Bill Reinsch. “At a time when it appears the U.S. economy may be taking a downturn, increasing market access in the financial services and investment sectors is essential to curbing this trend and stimulating economic growth both here and around the world.”
“Opening markets in Asia-Pacific nations to investments and services offered by U.S. companies not only benefits the millions of people these industries collectively employ, but the global economy as a whole,” said Chuck Dittrich, NFTC Vice President for Regional Trade Initiatives. “Trade with countries in the Asia-Pacific region accounts for more than half of global GDP, making the expansion of our relations with the P-4 countries all the more vital.”