US-ASEAN business group backs initiative for Trans-Pacific FTA

Washington, Sep 23 (UNI) The US-ASEAN Business Council has announced support for the US decision to commence negotiations to join Singapore, New Zealand, Chile and Brunei in a Free Trade Agreement (FTA) that could result in a broader Asia-Pacific free trade area.

The Business Council announced this last night. The Council is a non-profit association of leading US businesses that works with the 10-state ASEAN regional organisations as well as government and private sector players in each country.

'' The Council supports US entry into the Trans-Pacific Strategic Economic Partnership,'' said Council President Matthew Daley in a statement today.

He said, '' Membership in this high quality FTA will stimulate and enable exports by thr US companies into an area that accounts for nearly 60 per cent of the world GNP and is growing faster than the world average. Free Trade Agreements with Singapore and Australia substantially increased the US exports to those countries.'' '' We hope that US participation in the Trans-Pacific Agreement will encourage other countries in Asia to participate as well,'' said Daley.

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