The conclusion of the Trans-Pacific Partnership negotiations in Atlanta take the world a step closer to becoming more prosperous and more food-secure.
Negotiators from 12 Pacific Rim nations including the U.S., Canada and Japan that together make up 40 percent of the world economy reached an accord over what would be the largest trade pact in history. TPP has the potential to set the standard for 21st century international trade, promoting the movement of goods, capital and ideas that spur economic growth, help combat world hunger, and raise labor and environmental standards.
“In many parts of the world, food and agricultural products still face the legacy of high import barriers,” said David MacLennan, Cargill’s chairman and chief executive officer. “We believe the Trans-Pacific Partnership will allow food to move more freely across borders from places of plenty to places of need, which benefits farmers and consumers around the world.”
Cargill encourages the governments of the TPP countries to follow through on the progress made by the negotiators, as TPP would benefit many sectors of the world economy, including food and agricultural production. Farmers in producing countries could potentially reach nearly 500 million new customers in Asia, who would in turn gain access to more affordable, higher quality products. Trade agreements have historically boosted export and import flows between participating nations, leading to higher-paying jobs and improved living standards.
“Over time, the most successful countries have been those that embraced international trade,” MacLennan said. “Modern trade agreements like the TPP will continue that trend, while also setting high standards for labor, human rights and sustainability.”