WASHINGTON -- 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," says 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 adds.
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 $3 trillion in gross domestic product (to more than $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 has been an important success story for Canada, Mexico and the United States," Maroni says. "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."
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Canada and Mexico's participation in the TPP also offers the potential to improve outdated North American rules and to address new areas that were not contemplated when NAFTA was negotiated 18 years ago.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 says. "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."
The 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.
Editor's Note: The US-NZ Council is an independent U.S. group dedicated to advancing the business, strategic, and cultural relationship between the United States and New Zealand.
