Washington DC – Today, the National Foreign Trade Council (NFTC) welcomed progress made in the Trans-Pacific Partnership (TPP) negotiations between the United States, Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.
“We commend Ambassador Froman and his team of negotiators for continuing to make progress on this historic agreement. For the United States, the prospective long-term benefits of the TPP are numerous, from supporting jobs and economic growth to increasing investment,” said Bill Reinsch, President of NFTC. “With the potential to significantly expand U.S. trade and investment ties with the Asia-Pacific region, each step toward completing this agreement is a step in the right direction.”
The TPP aims to strengthen the U.S. trade relationship with six current free trade agreement (FTA) partners while opening new markets to five non-FTA partners. These 11 countries represent 15 percent of global trade.
“The TPP negotiations set out to build and strengthen trade relationships between the United States and the other 11 participating countries, while creating a new 21st century trade framework,” said Chuck Dittrich, Vice President of Regional Trade Initiatives for NFTC. “This is no easy task, but we are encouraged by the efforts of all the negotiators and trade ministers throughout this process. We urge negotiators to build on the momentum created by this latest ministerial meeting and maintain a high level of ambition to conclude the most comprehensive deal possible.”
About the NFTC
Serving America’s Global Businesses Since 1914 – 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.