During remarks to senior officials from the Asia Pacific Economic Cooperation (APEC) Forum in Washington, Hillary Rodham Clinton, the Secretary of State, emphasized the strong commitment of the United States government to free trade in the region, as long as it is fair, transparent and “delivers results to the American people.”

She stressed that the US is seeking free trade partnerships that are governed reasonably, are rules-based, "and that give businesses from all of our economies the chance to compete and that are grounded in shared principles.”

Clinton noted that four principles would guide the US in the on-going negotiations for the expanded Trans-Pacific Partnership (TPP) agreement – that it should be open to other countries so as to maximize opportunities; free for trade and investment by removing tariff and non-tariff barriers; transparent in that all rules are apparent to all; and fair in creating a level playing field on rules and regulations across borders. There is also, she said, a need to ensure that governments enforce and protect intellectual property rights.

She looked forward, in the coming months, to making substantial progress toward agreement on all key issues in the TPP, “which will bring together nine APEC economies (Brunei, Chile, New Zealand, Singapore, Australia, Malaysia, Peru, Vietnam and the United States) in a cutting-edge, next generation trade deal, one that aims to eliminate all trade tariffs by 2015 while improving supply change, saving energy, enhancing business practices both through information technology and green technologies.”

“We hope,” she added, “in time that that number will grow to include all the APEC economies and that the TPP will provide a foundation for an eventual Free Trade Area of the Asia-Pacific (FTAAP).”

Therefore, Clinton concluded, as APEC’s host this year, the US plans “to promote stronger and deeper regional economic integration by advancing common trade and investment interests. In 2011, we want APEC to help define, shape, and address next generation trade and investment issues, and to take steps to help reduce the time, cost, and uncertainty of moving goods through regional supply chains.”

APEC’s Secretariat Executive Director, Muhamad Noor told the Center for Strategic and International Studies in Washington that APEC is, in fact, playing a “vital supportive role” in advancing such regional trade negotiations. It is “working to define, shape and address the next generation of trade and investment issues that potential high-quality trade agreements such as the TPP will contain.” He confirmed that APEC hopes that the TPP will “contribute to our objective of achieving a FTAAP.”

March 11^th, 2011

Source: tax-news.com

 

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