WASHINGTON, Aug. 9, 2016 /PRNewswire-USNewswire/ -- The Society of Chemical Manufacturers and Affiliates (SOCMA) today announced its support for the Trans-Pacific Partnership (TPP), which would reduce tariffs and other trade barriers and level the playing field for specialty chemical manufactures in the global market.
The decision to support TPP, which represents 40 percent of world trade, follows a lengthy review of the agreement and deliberation with SOCMA members. Moving forward, the association will actively advocate for passage of TPP during the current Congressional term.
"SOCMA has a long and proud history of supporting free and fair trade, and TPP will allow small, medium and large chemical manufacturers to be more competitive in the global economy," said SOCMA President and CEO Lawrence D. Sloan. "SOCMA acknowledges that the agreement is not perfect, but without it, the United States is resigning economic leadership to other global powers in the Asia-Pacific region. We will continue to work with our members to ensure that any of their concerns about the agreement are addressed."
Since 1921 SOCMA has represented a diverse membership of small, medium and large chemical companies located around the world bringing world-class support uniquely tailored to enhance the operational excellence of our member companies. SOCMA is the only U.S.-based trade association dedicated solely to the specialty chemical industry, making us the leading authority on this sector. www.socma.com.
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SOURCE Society of Chemical Manufacturers and Affiliates