Sat. Apr 20th, 2024

Business representatives from Trans-Pacific Partnership (TPP) member
economies, gathered for the on-going 16th round of TPP negotiations in
Singapore, are putting their consolidated efforts in support of the
speedy conclusion of the negotiation.

In a joint statement
issued on March 8 following the TPP Stakeholder Event, which was
attended by business representatives, government negotiators and other
representatives of civil society, the 10 business chambers and leading
business organisations urged negotiators to show flexibility and narrow
the range of differences so that the negotiations can be brought to
conclusion as soon as possible.

“It is to the businesses’
interest that the negotiation should be concluded sooner than later so
that companies could benefit and help their businesses to grow,” the
statement quoted Ho Meng Kit, Chief Executive Officer of the Singapore
Business Federation, as saying.

Business organisations
supporting the call to bring TPP to a substantive conclusion as soon as
possible include the Asia Pacific Chambers of Commerce, Canadian
Agri-food Trade Alliance, Canadian Manufacturers Exporters,
Emergency Committee for American Trade, Foreign Trade Association of
Peru, National Center for APEC, New Zealand International Business
Forum, Singapore Business Federation, US-ASEAN Business Council and
Vietnam Chamber of Commerce and Industry.

“We support TPP
because it can provide the framework which enables business to create
the conditions for growth in the region”, said Calman Cohen, President
of the Emergency Committee for American Trade, in the statement.

“TPP
is about eliminating barriers to trade and investment, reducing the
costs of doing business and enhancing the operation of regional supply
chains,” he said adding that addressing these issues will allow
business to invest, expand and support and create jobs.

The
statement added that Hoang Van Dung, First Vice President of the
Vietnam Chamber of Commerce and Industry, noted that with the high
quality and inclusive nature, the TPP should benefit all participating
parties.

Jayson Myers, President CEO of Canadian
Manufacturers Exporters, said in the statement: “The bottom line
is that businesses need a comprehensive and ambitious TPP that opens up
opportunities, strengthens trade rules and improves business conditions
in the region just as much as the world trading system needs a 21st
century trade agreement that effectively addresses behind the border
issues.”

The 11 TPP members are Australia , Brunei, Canada
, Chile, Malaysia , Mexico , New Zealand, Peru , Singapore,
the United States , and Vietnam.-VNA

By vivian