IPREX Global Perspectives on the Trans-Pacific Partnership
IPREX Global Perspectives is a series of executive insights from our offices around the globe on issues that matter in a dynamic and interconnected world.
AUCKLAND – “New Zealand is not referred to as “down under” for nothing. By its very location on the planet, our nation must trade to survive. It would be naïve of us to believe we can produce everything our citizens need. On the other hand, we have a lot to offer. We produce some of the world’s most wholesome foods – dairy, lamb and salmon, apples and wine are just a few that are shipped world-wide.
“Our creative output rivals the best in the world. Any global alliance that helps to free up trade, reduce tariffs and make markets more accessible to New Zealand must benefit all parties. The Trans-Pacific Partnership is good for New Zealand. We acknowledge there will be winners and losers. But that is the same for every signatory. Without deals such as these we would be even more isolated than our geographical location represents.” – Deborah Pead, Managing Director, Pead PR
BEIJING – “The Trans-Pacific Partnership is a fantastic achievement for Asia trade, especially given the negotiation’s humble beginnings and the widely differing agendas and interests of the parties involved. The 12 countries in the block are already responsible for around 40% of world trade with a collective population of around 800 million.”
“For its part, China welcomes any agreement that further boosts free trade in the Pacific Rim and helps boost investment and economic growth. I hope that once the agreement is ratified that China will have the opportunity to participate too.” – Maggie Chan, Greater China Director, Newell Public Relations
MILWAUKEE – “Consider these facts. More than 90% of the world’s consumers live outside U.S. borders; exporting our products and services is increasingly important to our country’s ability to thrive and grow. Small businesses are the primary drivers of growth in employment and the earnings of our citizens. In the Milwaukee market, where Trefoil Group is located, more than 90% of our businesses are small, with less than 100 employees.
“Trade agreements like the Trans-Pacific Partnership are critical to facilitating international trade. They make it easier for small businesses to both export and import successfully. While the merits of each point of the agreement can be debated, the importance of the fundamental concepts of protecting workers’ rights, preserving the environment, simplifying export rules, protecting a free, open internet and requiring comprehensive anti-corruption regulations cannot be overstated. But, in the end, efforts to facilitate trade should be embraced by all those committed to building a thriving and dynamic economic environment – where they live and around the world.” – Mary Scheibel, Founder and Principal, Trefoil Group
MUMBAI – “The Trans -Pacific Partnership will basically change the landscape of global trade; it is an ambitious idea pushed hard by President Barack Obama’s administration that would address “21st century trade issues” such as intellectual property protections, digital trade rights and protections for investors.
“Although the deal aims at sidestepping China in setting rules of international trade, it is also expected to impact India. The TPP is an economic arm of the US Rebalance to Asia Policy. Since India has been an important part of the Asia policy, and is not a signatory to the TPP, there are speculations as to its impact on India. Indian exports will be adversely impacted more due to the non-tariff measures rather than tariff measures as the tariff measures are already low in larger markets such as the US and EU. There will be a significant diversion in trade and foreign investments from the Indian market. Some of this impact may be mitigated due to a combination of inclusion in RCEP and other bi-lateral agreements.” – Rahat Beri, Chief Operating Officer, Percept Profile