“The inclusion of Japan – the third largest economy in the world – would be significant to the TPP negotiations, as it would have the potential to further increase U.S. economic engagement in the Asia-Pacific region and expand unprecedented market access for U.S. businesses, workers, farmers and service providers,” said NFTC Vice President for Regional Trade Initiatives Chuck Dittrich. “We welcome today’s news, and we also caution that with Japan’s inclusion, it is critical that efforts to achieve a high-standard final agreement be maintained. For this to happen, Japan must be committed to dismantle deeply-rooted tariff and non-tariff barriers to trade in key sectors, including autos, insurance, pharmaceuticals and agriculture.”
“The TPP partners have a real opportunity to conclude a comprehensive agreement that could be the gold standard for future plurilateral trade agreements. Japan must continue to reorient its engagement with the United States and other TPP partners for the agreement to reach its full potential,” said NFTC President Bill Reinsch. “The Administration has made clear that it would like to see a conclusion of the negotiations this year, so as the United States and other TPP partners seek to expand membership further, it is critical to maintain momentum while still abiding by the core commitment to a comprehensive agreement that precludes no sector and addresses all issues relevant in today’s integrated global economy.”
About the NFTC
Advancing Global Commerce for Nearly A Century- The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.
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