|Category:||Business Insights, Global Impact|
|Tags:||business growth, global trade, Scott Davis, transportation|
I’m in executive communications at UPS and have been spending a lot of time helping our senior executives discuss the importance of free trade. Recently our chairman was in Singapore addressing business audiences and he made a positive reference to the Trans-Pacific Partnership, or TPP, and how the U.S. would benefit from engagement in this trade alliance linking Australia, Brunei, Chile, New Zealand, Peru, Singapore, the U.S. and Vietnam.
As Scott Davis said, “We believe TPP has the potential to be an agreement that reflects the realities of a changed world. It addresses the needs of both business and government. It covers a region that will be a global growth leader. It moves beyond the strict focus on tariffs. And it’s a major step in a viable direction, as we work to create the next phase of global commerce.” Davis’ full speech and video are available at the UPS Pressroom site.
It’s easy to understand the impact of such an agreement when you consider that total trade between the U.S. and the seven other TPP countries should exceed $110 billion in 2009 ($91 billion through October – U.S. Census Bureau).
Agreements such as TPP enable our customers to grow their businesses in global markets. And they enable UPS to provide better service to our customers because they reduce some of the hurdles associated with managing complex global supply chains.
And in the bigger picture, engagement in the TPP gives the U.S. an opportunity to address gaps in our current trade agreements, and to set the standard for 21st century trade agreements going forward. This will increase U.S. competitiveness in Asia and could help bring home to the American people the jobs and economic prosperity that are the promise of trade.