US-ABC Applauds Major Step Forward for the TPP

(Honolulu, HI) The US-ASEAN Business Council offered its strong support for President Obama's commitment to the ambitious, high-standard, and forward looking Trans-Pacific Partnership Agreement (TPP). The TPP negotiating partners include four of the ten ASEAN Members, Brunei, Malaysia, Singapore, and Vietnam, and potentially could be a building block for a free trade area of the Asia-Pacific.

"The US-ASEAN Business Council wecomes President Obama's commitment to the TPP and the steps forward that were taken in Hawaii today," said Alexander Feldman, President of the US-ASEAN Business Council. "It's vital that, as negotiations continue, that the US and other negotiating partners continue their support for the orignal framework of the TPP, which sets out to be a comprehensive, high-standards agreement which supports IPR and the continued elimination of barriers to invesmtent throughout the Asia-Pacific."

The TPP aims to create a free trade zone which covers more than 40% of global trade. The TPP is a unique agreement which can benefit every state in the U.S. by expanding exports to 4 key ASEAN partners. ASEAN is currently the 4th largest export market for the United States, supporting over 425,000 American Jobs. The TPP will have a significant, positive impact on continued growth for American companies and additional employment for American workers.

ASEAN Stakeholders including business associations across Singapore, Malaysia and Vietnam share the desire of U.S. business to see a high-standards, comprehensive FTA. The US-ASEAN Business Council looks to work with our counterparts in ASEAN and the US as the agreement moves forward to ensure a successful outcome which creates jobs and economic growth in all nine nations.

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For over 35 years, the US-ASEAN Business Council has been the premier advocacy organization for US corporations operating within the dynamic Association of Southeast Asian Nations (ASEAN). Worldwide, the Council's membership, more than 160 companies, generate over $6 trillion in revenue and employ more than 13 million people globally. Members include the largest US companies conducting business in ASEAN, and range from newcomers to the region to companies that have been working in Southeast Asia for over 100 years. The Council has offices in: Washington, DC; New York, NY; Bangkok, Thailand; Hanoi, Vietnam; Jakarta, Indonesia; Kuala Lumpur, Malaysia; Manila, Philippines; and Singapore.