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Business Roundtable Commends Progress on Trans-Pacific Partnership and Urges a High-Standard, Expeditious Outcome

Sunday, November 13, 2011 12:51 AM

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 contributions.

Please visit us at www.brt.org, check us out on Facebook and LinkedIn, and follow us on Twitter.

(Source: Business Wire )
(Source: Quotemedia)


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