(Washington, D.C.) The US-ASEAN Business Council today applauded the introduction of the Congressional Trade Priorities Act of 2014 (TPA) by the bipartisan group of Senator Max Baucus of Montana, Senator Orrin Hatch of Utah, and Representative Dave Camp of Michigan.
“The Council strongly supports the Bipartisan Congressional Trade Priorities Act, which reauthorizes trade promotion authority, ensures input from congressional stakeholders, and empowers the executive branch to move the trade agenda forward,” said Council Chairman Evan Greenberg, Chairman and CEO of ACE. “The Obama Administration’s trade agenda, which includes the Trans-Pacific Partnership (TPP), needs both the authority and the congressional oversight that TPA will bring in order to ensure the successful conclusion of agreements, which will substantially expand U.S. exports and help create American jobs.”
“TPA will be a crucial ingredient in the successful passage of the Trans-Pacific Partnership,” said Council President Alexander Feldman. “The TPP will link the United States with 11 other nations, including Singapore, Brunei, Malaysia, and Vietnam, in a high-standards, 21st century free trade agreement which has the potential to serve as the building block of a free-trade area of the Asia-Pacific. Taken together, the TPP countries represent over 40% of total U.S. goods exports, with the potential for that figure to grow substantially with greater access for U.S companies to foreign markets. Moving forward, we call upon the administration to articulate a path for the remaining members of ASEAN to join TPP, or to move towards a US-ASEAN FTA.”