US-ASEAN Business Council Supports TPP Leaders' Commitment

KUALA LUMPUR, Nov 14 (Bernama) -- The US-Asean Business Council (US-ABC) has welcomed leaders' commitment to the forward looking Trans-Pacific Partnership (TPP) agreement announced by US President Barack Obama in Honolulu Saturday. "It's vital that, as negotiations continue, the US and other negotiating partners continue their support for the original framework of the TPP, which sets out to be a comprehensive, high-standards agreement which supports IPR (Intellectual Property Rights) and the continued elimination of barriers to investment throughout the Asia-Pacific," US-ABC President Alexander Feldman said in a statement. The TPP negotiating partners include four Asean members namely Brunei, Malaysia, Singapore and Vietnam. Obama, after hosting the first ever leaders meeting of the TPP, said nine leaders had agreed to the completion of a broad agreement of the text for a free trade deal by July 2012. "The US-Asean Business Council looks to work with our counterparts in Asean and the US as the agreement moves forward to ensure a successful outcome which creates jobs and economic growth in all nine nations," the statement said. The US-ABC represents over 100 major US corporations, ranging from those who have been active in Southeast Asia for over 100 years to newcomers looking to expand their presence in one of the world’s most dynamic markets. -- BERNAMA