AmCham Singapore Voices Support for TPP-11
AmCham Singapore issued a statement on August 25 urging the eleven members of the TPP to reach a successful conclusion to ongoing deliberations and implement this high-standard agreement as soon as possible. AmCham Singapore believes the TPP as negotiated provides the foundation for implementing the high standards needed to further economic growth and development in the Asia-Pacific region and represents the future of sustainable international trade.
“As Singapore serves as America’s business headquarters for Asia, we see first-hand many competing frameworks for creating the architecture for trade in the region, such as the Regional Comprehensive Economic Partnership,” said Dwight Hutchins, Chairman of AmCham Singapore.
“The TPP is, by far, the best and most strategic trade framework from a business perspective – even without the U.S. government in it – as the high standard elements within it are supportive of U.S. businesses,” said Steven Okun, Chairman of the AmCham Singapore TPP Task Force.
Not only does the TPP-11 provide duty-free access to its members for nearly all goods and all manufactured goods, it also dramatically opens-up opportunities for the flow of services and investment sectors. It enhances protections for intellectual property rights, promotes cross-border data flows, ensures fair competition by state-owned enterprises, and provides new opportunities for many government procurement contracts. Beyond any other trade agreement, it also includes unprecedented protections for the environment and labor.
See full press release here.