WASHINGTON, Aug. 3, 2015 /PRNewswire-USNewswire/ -- The
Society of Chemical Manufacturers and Affiliates (SOCMA) today
congratulates the hard work of U.S. Trade Representative (USTR)
Michael Froman and his team during
the latest round of Trans-Pacific Partnership (TPP) negotiations in
Maui.
During negotiations, Froman and his team worked tirelessly to
secure market access for U.S. companies, create protections around
intellectual property, such as trade secrets, and increase the
resources for small and medium-sized enterprises (SMEs). With
roughly 85 percent of SOCMA members considered SMEs and innovators
by trade, passage of the TPP is crucial in helping them compete in
the global marketplace.
"We understand the size and complexity of this undertaking,
knowing that substance will drive the timeline, and have confidence
in our negotiators," said William E.
Allmond, SOCMA Vice President for Government and Public
Relations. "This deal needs to live up to the expectations of
industry, the American public, and meet the objectives laid out by
Congress in Trade Promotion Authority. We look forward to seeing
the details."
Throughout the negotiations, there has been an extraordinary
effort by the USTR and other government agencies. "We appreciate
their effort, talking with partners on a near continuous basis to
wrap up some of the most critical and contentious issues in the
trade talks," Allmond said.
TPP will set a high standard in growing the Asia-Pacific region. For chemicals in 2014,
Canada, Japan and Mexico were among our largest trading
partners, making up 37 percent of chemical exports.
About SOCMA
Since 1921, SOCMA has represented a
diverse membership of small, medium and large chemical companies
located around the world. Collectively, SOCMA members are key
drivers to a successful economy, contributing $24 billion annually to the U.S. GDP. Our
members play an indispensable role in the global chemical supply
chain by producing intermediates, specialty chemicals and
ingredients used to develop a wide range of industrial, commercial
and consumer products, essential to the well-being and lives of
people everywhere. For more information, visit www.socma.com.
Contact:
Jenny Gaines
Senior Manager, PR &
Communications
(202) 721-4123
gainesj@socma.com
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SOURCE Society of Chemical Manufacturers and Affiliates