Signed by 25 American Chambers of Commerce in Asia-Pacific, a letter demonstrating unprecedented unity and urgency was addressed to the Leadership of the U.S. Congress urging them to ratify the TPP agreement before the end of 2016.
APCAC’s collective membership represents more than 15,000 companies, 50,000 overseas American workers, and annual trade and investment volumes exceeding US$600 billion.
The letter highlights five key areas that TPP would address, enabling U.S. companies to compete against formidable Asian and European multinationals in the Asia-Pacific Region:
- Improving market share in Asian markets and supply chains
- Equalizing existing disadvantages from Asian Free Trade Agreements (FTA’s)
- Eliminating barriers that undermine U.S. innovations and standards
- Protecting opportunities in emerging markets
- Enhancing opportunities to shape positive outcomes.