- THE MAGAZINE
UPS commended President Obama on announcing in his 2013 State of the Union address the launch of talks regarding a comprehensive Transatlantic Trade and Investment Partnership with the European Union.
According to a statement from the parcel delivery company, a transatlantic partnership would open up “new dynamic trade opportunities” for small, medium, and large enterprises on both sides of the Atlantic, while “boosting U.S. exports and creating new U.S. jobs.”
Additionally, the President's commitment to conclude the 2013 Trans-Pacific Partnership negotiations will be “equally significant” in unleashing economic growth through trade and it will “send a strong message of confidence” to the global economy and markets.
"UPS sees strengthening and deepening the U.S.-EU trade relationship as a cornerstone of our own success," said Scott Davis, UPS Chairman and CEO. "A stronger partnership in trade between the U.S. and the EU will bring tremendous benefits for U.S. and European exporters alike. UPS is excited about the possibilities of what a U.S.-EU free trade agreement means to our customers and how it will improve the position of our economies."
The U.S. and the 27 European Union member states share a common outlook and a similar determination to maintain open markets and benefit from liberalized services trade regimes. As the world's largest economic relationship, it accounted for $4.5 trillion in investment and trade in 2011.
U.S.-EU services trade accounted for $300 billion, one-third of total U.S. services trade, and nearly 10 percent of all world services trade. At this critical point in the global economic recovery, it is essential that the U.S. and EU continue to lead in setting the most modern rules of trade for global markets.