THE Global Trade Professionals Alliance has given a vociferous endorsement of the TPP-11 trade agreement, saying it is an important step forward in an uncertain time for global free trade.
GTPA CEO Lisa McAuley said increasing trade and investment is absolutely crucial to unlocking the opportunities for the 11 countries involved in the agreement.
“The TPP-11 is an important step forward at a time when the benefits of international trade are currently the subject of debate in various contexts,” she said.
A statement from GTPA pointed to new modelling undertaken by economists from Brandeis International Business School and Johns Hopkins University, which highlighted that Australia is forecast to see $15.6bn in net annual benefits to national income by 2030 and increases in exports of $29.9bn as a result of the TPP-11.
The GTPA said it supported the bipartisan support for the ratification of the agreement.
“Australia has a proud history of bipartisan support for trade on what has been good for Australia over partisan politicking,” the GTPA statement read.
“Now more than ever we need bipartisan support in Australia to support free and fair trade that will deliver growth and investment to Australia. The TPP-11 is about providing even further market access and international trade potential to Australian businesses.”
“As with any new agreement or regulatory reform, all businesses need to conduct thorough research and invest in the right skills to build their knowledge,” Ms McAuley said
“The GTPA, as an organisation connecting individuals and organisations to a trusted network with recognised capabilities that power supply chains and their communities around the world, will be able to assist the 11 countries to build their professional capabilities to demystify the agreement to the benefit of all businesses engaged in global trade.”