Six Reasons Why the TPP Is Important

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U.S. Ambassador Craig Allen enumerated to an AmCham audience today six key reasons why the Trans-Pacific Partnership (TPP) is important:

 

  • Mega-regional:  The TPP is mega-regional, encompassing Southeast Asia, North Asia, Latin America, and North America.
  • Diverse:  It embraces countries with very different economies (industrial, services oriented, extractive, labor-intensive, etc.).
  • Large:  The deal is very large, representing 40 percent of global trade.
  • Deep:  The commitments in the deal are very deep, getting to important behind-the-border issues.
  • New:  The TPP represents a new approach to multilateral trade agreements, covering not just traditional disciplines, but also new fields such as e-commerce, labor, environment, state-owned enterprises, and transparency.
  • Open:  The TPP has a deliberately open architecture that allows other countries to accede.

 

Ambassador Allen, former Deputy Assistant Secretary of Commerce for Asia and current U.S. envoy to Brunei, described the TPP as the most significant trade policy agreement since the conclusion of NAFTA and the Uruguay Round in 1994.

 

AmCham encourages interested members to join our TPP Task Force.  Please drop an email to Jordyn at jarndt@amcham.org.sg if you would like to be on the e-mailing list for updates and meeting announcements.

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