Trans-Pacific Partnership: A unique opportunity to build on the world's strongest trade partnership

OTTAWA, July 10, 2013 /CNW/ - As Canada, the United States and 10 other countries near the conclusion of negotiations for the Trans-Pacific Partnership (TPP), the U.S. Chamber of Commerce, in partnership with the Canadian Chamber of Commerce, is leading a senior business delegation to Ottawa to confer with Canadian government and business leaders on priorities for the negotiations.

"Canada and the United States approach the TPP as a unique opportunity to build on the world's strongest trade partnership. We face similar challenges in the Asia-Pacific region, and the opportunities are vast," said Perrin Beatty, President and CEO of the Canadian Chamber of Commerce. He added: "Canada and the United States have relatively few bilateral trade agreements in Asia. The TPP can ensure that North Americans aren't stuck on the outside, looking in as rapidly growing Asian economies pursue new trade accords among themselves."

"It makes a world of sense for Canada and the U.S. to pursue this bold new trade pact with the Asia-Pacific region together," said John Murphy, Vice President of International Affairs at the U.S. Chamber of Commerce. "After 25 years of free trade, Canada and the U.S. don't just trade with one another—we make things together. This is why the U.S. Chamber welcomed Canada's interest in the TPP, and Americans and Canadians will benefit together as we pursue an ambitious and comprehensive agreement."

This joint mission represents an opportunity to strategize on common objectives and underscore both business communities' strong interest in an ambitious, comprehensive and high-standard agreement that will spur growth and create jobs among all TPP partners.

The 18th TPP negotiations round will be held in Kota Kinabalu, Malaysia, from July 15 to 25, 2013. During the Lima Round, negotiators worked through the outstanding issues in many areas, and significant progress was made in chapters such as sanitary and phytosanitary measures, trade remedies, e-commerce, cross-border trade in services, rules of origin and legal and institutional issues. TPP countries recognize that challenges remain in areas such as intellectual property, environment and competition and that additional time will be required for market access issues for goods, government procurement and services and investment, which will require additional attention from negotiators given the nature and complexity of these issues.

The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than three million businesses of all sizes, sectors and regions, as well as state and local chambers and industry associations. Its international affairs division includes more than 50 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 116 American chambers of commerce abroad.

The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing some 200, 000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.

SOURCE: CANADIAN CHAMBER OF COMMERCE