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SBF applauds the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (TPP) and calls for its speedy conclusion

11 November 2017 [Da Nang, Vietnam] - After almost a year since the U.S. withdrawal from the TPP, the remaining 11 parties are moving forward on a Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This Agreement will probably retain core elements of the original TPP which enables companies, especially SMEs, to do business across the eleven countries.

“After the disappointment last night when there was no agreement at the TPP 11 Leaders’ Summit, I am happy that the 11 parties are pressing ahead with a Comprehensive and Progressive Agreement for TPP. It will provide a solid framework for our companies to sell their goods and services to these 11 markets under a more sophisticated and business-friendly set of rules and regulations,” said Mr S. S. Teo, Chairman of the Singapore Business Federation (SBF) and head of the APEC Business Advisory Council (ABAC) Singapore delegation to the 2017 APEC Economic Leaders’ Meeting.

“I congratulate the officials and trade negotiators for their determination to lock in this deal. The business community deeply appreciates their tremendous effort. I look forward to the speedy conclusion and subsequent implementation of the restructured Agreement. I hope the U.S. and other interested countries will also join this modern trade pact in the future. SBF will provide the necessary support that our Government needs from the business community to put the Comprehensive and Progressive Agreement on TPP into fruition,” said Mr Ho Meng Kit, CEO of SBF and ABAC’s Champion for Services.

Representing the Singapore business community, both Mr S S Teo, Chairman of SBF and Managing Director of Pacific International Lines, and Mr Ho Meng Kit, CEO of SBF, together with Ms Jeanette Wong, Group Executive at DBS Bank, participated at this year’s APEC Business Advisory Council (ABAC) Dialogue with Leaders that was held today in Da Nang, Vietnam.

The 2017 APEC Ministerial Meeting (AMM) is available here.

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