(Washington,D.C.) The US-ASEAN Business Council offered its support today for the successful completion of the Trans-Pacific Partnership (TPP) negotiations.
“We congratulate the TPP member governments for concluding this landmark agreement in Atlanta, GA today,” said Alexander Feldman, President and CEO of the US-ASEAN Business Council. “Almost six years ago, President Obama announced his intention to pursue this landmark agreement and join the P4 (Brunei Darussalam, Chile, New Zealand and Singapore) in the negotiations. Today, the TPP has grown to include nearly 40 percent of the world's GDP under a single high standards trade agreement. It will open opportunities for American companies in 11 important Pacific countries, creating a level playing field for U.S. businesses looking to break into and/or expand their presence in some of the fastest growing markets in the world. This agreement will improve intellectual property, environment, labor and eCommerce standards across the region.”
“ASEAN (Association of Southeast Asian Nations) countries represent over 30 percent of countries negotiating the TPP, including Brunei, Malaysia, Singapore and Vietnam,” Feldman continued. “Forty percent of the ASEAN nations will be signatories of the TPP and others including the Philippines have indicated an interest in joining in the future. The agreement will significantly and positively impact commercial relations between the United States and these important countries and is a critical component of America’s engagement with Southeast Asia in particular and with Asia more generally.”