Kirk Says TPP Would Be a Key to Increasing World Trade, in Singapore Speech
The U.S. "is aiming high with our Asia-Pacific partners once again to advance objectives that address 21st century trade challenges," U.S. Trade Representative Ron Kirk said April 26 at Singapore Management University. "With global supply chains clustered around the Pacific Rim, trade barriers around the region now affect not only the United States and Singapore but all economies worldwide."
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“Today, I will describe how the United States is working with Asia-Pacific trading partners on multiple complementary fronts simultaneously to pursue a shared vision for regional trade and our collective future growth and prosperity.
Kirk called Singapore “an established leader on trade in the Asia-Pacific and globally," citing the U.S.-Singapore trade agreement signed almost ten years ago, and negotiations toward the Trans-Pacific Partnership (TPP). “We are approaching a seminal moment in the construction of a more robust and responsive trade model for the next generation," Kirk said. He cited "new and cross-cutting trade issues with significant implications for enhancing regional trade integration and economic growth":
- TPP partners are working together to develop regional trade arrangements along with smarter and more coordinated regulation. "A regional agreement with more common rules and more seamless regulation will eliminate redundancies and make it easier and more efficient to trade," he said.
- "We are working to put in place accompanying rules, such as state-of-the art customs practices and open services sectors, which provide the infrastructure necessary to encourage efficient trade and investment.
- “With the explosion of computer technology and e-commerce, we are working to promote the growth and vibrancy of the digital economy, including cloud computing, which particularly benefits small- and medium-sized enterprises."
- TPP partners "are actively pursuing initiatives covering a wide range of environmental concerns that have growing relevance for economies at every stage of development."
- The U.S. is pushing to expand the World Trade Organization Information Technology Agreement (ITA) by eliminating tariffs on additional ICT goods. "We must work together to frame an ITA negotiation carefully, in such a way that allows for rapid progress, and tangible deliverables, so that it can garner consensus by all ITA Participants," Kirk said.