United States - New Zealand Council Welcomes Inclusion of Canada and Mexico in Trans-Pacific Partnership Talks
WASHINGTON, June 20, 2012 /PRNewswire-USNewswire/ -- The United States - New Zealand Council welcomes the decision by nine countries participating in the Trans Pacific Partnership talks, including the United States and New Zealand, to invite Canada and Mexico to join the TPP negotiations.
"Inclusion of Canada and Mexico signals these two countries' readiness to commit to a high-standard, comprehensive agreement, as outlined by the TPP partners in November 2011," said William Maroni , president of the US-NZ Council.
"We commend U.S. Trade Representative Ron Kirk and New Zealand Trade Minister Tim Groser for their continued leadership to ensure that all TPP parties pledge to achieve an all-inclusive, high-ambition trade agreement as quickly as possible," Maroni added.
With the addition of Canada and Mexico, the potential TPP market would increase by more than 150 million people (to more than 650 million) and by $US 3 trillion in Gross Domestic Product (to more than $US 20 trillion). Expanding the TPP by these numbers would create substantially greater opportunities for economic growth, new jobs, innovation and higher standards of living for all parties.
"The North American Free Trade Agreement (NAFTA) has been an important success story for Canada, Mexico and the United States," Maroni said. "It has contributed to significant increases in trade and investment flows among the three countries, thereby promoting greater transparency, better economic integration and more efficient supply chains – some of the same objectives of the TPP."
Canada and Mexico's participation in the TPP also offers the potential to improve outdated North American rules and to address new areas that were not contemplated when NAFTA was negotiated 18 years ago.
"The ultimate goal of a Trans-Pacific Partnership agreement has always been to link Oceania, Asia, Latin America, and North America," Maroni said. "With Canada and Mexico's pledge to embrace the TPP principles, we are a step closer to realizing the power and promise of that worthy ambition."
About the Trans Pacific Partnership (TPP):
The Trans-Pacific Partnership (TPP), also known as the Trans-Pacific Strategic Economic Partnership Agreement, is a proposed high-standard, comprehensive free trade agreement that would address new and emerging trade issues and 21st-century challenges. Nations currently participating in TPP negotiations are: Australia, Brunei Darussalam, Chile, Malaysia, New Zealand, Peru, Singapore, the United States, and Vietnam.
About the United States - New Zealand Council:
The US-NZ Council is the only independent U.S. group dedicated exclusively to advancing the business, strategic, and cultural relationship between the United States and New Zealand. Celebrating its 27th year, the US-NZ Council's unique mission is to expand and strengthen bilateral relations through the free flow of goods, services, investment, people, and ideas. We represent many of America's best global companies, joined by premier New Zealand enterprises, former U.S. diplomats, Asia-Pacific experts, and important opinion leaders.
For more information, visit www.USNZcouncil.org
Contact: William Maroni
SOURCE United States-New Zealand Council
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