WASHINGTON D.C.—With the 12th round of negotiations on the Trans-Pacific Partnership (TPP) Agreement now underway  in Dallas, Texas, the U.S. Chamber of Commerce today called on the administration to push for significant progress on core issues in the agreement including intellectual property, investment, competition, state-owned enterprises, and trade facilitation. U.S. Chamber experts will be in Dallas to participate in the stakeholder process and emphasize the benefits of achieving a comprehensive and high standard TPP agreement.

“The TPP has enormous potential for U.S. companies and workers.  If done right, this agreement will not just open up new opportunities, but it will also act as a model for fair and market-based trade and investment practices in the Asia-Pacific,” said Myron Brilliant, U.S. Chamber senior vice president of International Affairs.  “The challenge ahead of us this week is making sure we are moving forward on the right track to reach this level of ambition.  TPP countries, including the United States, must be prepared to put everything on the table and work toward achieving an ambitious and commercially meaningful outcome.”

Earlier today, the U.S. Chamber joined 32 other associations in signing a letter to President Barack Obama highlighting the economic contributions of America’s intellectual property-intensive industries and the crucial role strong IP protection plays in promoting the vitality of these industries.  The letter urges the Obama Administration to not only continue to seek the highest IP standards in the agreement, but to also reject any efforts to weaken IP protections, which could jeopardize innovation, economic growth, and job creation. As noted in the letter, the U.S. approach largely builds upon the recently implemented U.S.-Korea Free Trade Agreement.

“Intellectual property-intensive industries account for approximately one in every four American jobs, 60% of total U.S. exports and over one third of U.S. GDP,” said David Hirschmann, president and CEO of the Global Intellectual Property Center, at the U.S. Chamber. “Pursuing high standard, comprehensive, and commercially meaningful intellectual property obligations will not only benefit U.S. interests, but will also help bring investment, innovation, and jobs to all TPP economies.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.