This week, trade representatives from across the globe will meet in Bali for the World Trade Organization’s Ninth Ministerial Conference. While the four day meeting’s agenda will cover a variety of trade-related topics, representatives from the 12 Trans-Pacific Partnership (TPP) countries plan on meeting on the sidelines to work to wrap up their negotiations by the end of this year.
The TPP represents an important opportunity for over 40% of the global economy to lay the framework for shared economic growth. Participating nations hope to achieve such growth through strong intellectual property IP protections and mutually beneficial partnerships among the participating nations. The U.S., along with our partner countries, stands to gain a lot from the TPP. With high-standard protections of IP and data exclusivity rights, the agreement could spur innovation and economic development domestically and abroad. As the negotiations reach their final stages, member nations will need to continue to shore up domestic support for this investment incentivizing agreement.
Earlier this fall Representatives Dave Reichert (R-WA), Ron Kind (D-WI), Charles W. Boustany Jr. (R-LA) and Gregory Meeks (D-NY) demonstrated their support for the agreement by forming the Friends of the Trans-Pacific Partnership Congressional Caucus. Check out the slideshow below for a closer look at why this bipartisan caucus of Representatives supports this agreement:
The work of these founding caucus members substantially improves our chances of developing the right kind of agreement that can lead to huge breakthroughs in innovative medicines. As the negotiations continue, I hope that other representatives will join their colleagues in supporting a gold-standard trade agreement in the Asia-Pacific region.