In response to the announcement today by the Leaders of the nine
Trans-Pacific Partnership (TPP) countries on the broad outlines of an
ambitious TPP agreement, Business Roundtable (BRT) commended this real
progress and reaffirmed its strong support for the TPP negotiations
among the United States and eight of the other 20 Asia Pacific Economic
Cooperation (APEC) economies.
"Business Roundtable appreciates the concrete and meaningful progress
made by the Administration and the other TPP parties and urges a
high-standard and comprehensive agreement as quickly as possible," said
Business Roundtable Chairman Jim McNerney, Chairman, President and CEO
of The Boeing Company. "Such an outcome will promote economic growth in
the United States by expanding trade and export opportunities with the
dynamic APEC region, which represents roughly 44% of international trade
and 2.7 billion consumers."
McNerney added that TPP will create the opportunity to address a range
of important trade issues, including those related to innovation,
behind-the-border barriers, and the efficiency of supply chains for
moving goods and services to market.
BRT also welcomed Japan's expression of interest in joining the TPP and
committed to continuing to work with existing TPP parties toward a
strong TPP agreement. "Nearly half of the APEC countries are already
participating in the TPP. Japan's and other countries' possible
participation in the TPP and their strong commitments to meet its high
standards would make the TPP an even stronger engine for economic growth
and job creation," said Doug Oberhelman, Chairman and CEO of
Caterpillar, Inc., who chairs BRT's International Engagement Committee.
"BRT will continue to work with the Administration, Congress and the
other TPP countries to ensure the expedited completion of an ambitious
agreement to further open the Asia-Pacific region's markets to new trade
and investment opportunities," Oberhelman said.
Business Roundtable (BRT) is an association of chief executive
officers of leading U.S. companies with over $6 trillion in annual
revenues and more than 14 million employees. BRT member companies
comprise nearly a third of the total value of the U.S. stock market and
invest more than $150 billion annually in research and development –
nearly half of all private U.S. R&D spending. Our companies pay $163
billion in dividends to shareholders and generate an estimated $420
billion in sales for small and medium-sized businesses annually.
BRT companies give nearly $9 billion a year in combined charitable
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