KUALA LUMPUR – The American Malaysian Chamber of Commerce (AmCham) has urged the United States (US) to announce its plans to join the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).
The chamber believes that the CPTPP remains the highest-standard multilateral agreement in existence, a result of being drafted when the US served as one of the lead negotiators.
“As US President Joe Biden prepares to attend his first Asia-Pacific Economic Cooperation (Apec) Leaders’ Meeting hosted by New Zealand, we call on him to announce that the US will begin the process of joining the CPTPP,” it said in a statement today.
AmCham said even after the US withdrew from the agreement, the remaining countries kept the cornerstones of the agreement intact by including tough rules of origin, reducing tariffs, making supply chains more resilient, and agreeing on accession procedures for new candidates.
The more the US stands on the sidelines, the more US companies face competitive disadvantages on their exports to this fast-growing consumer market, and the more American workers pay for the products their families need,” it said.
During a visit to Singapore in August this year, US Vice President Kamala Harris announced that the US offered to host the Apec meetings in 2023.
“Our business associations, based in countries which have all hosted Apecs, recognise this rare opportunity for the US to set the Apec agenda and build consensus on issues that affect US growth, exports, and jobs, as well as influence the region’s trade and sustainability agenda,” it said.
AmCham called on Biden to announce that the US will join the CPTPP, with a goal of achieving the necessary domestic and international consensus to do so by the time the country hosts Apec in 2023. – Bernama, November 5, 2021
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