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NRF, Gap back TPP
06
Oct '15
The National Retail Federation (NRF) in the US has praised the successful conclusion of the Trans Pacific Partnership (TPP). It is now waiting to review the final agreement.

“Trade agreements are vital for American retailers large and small. They help merchants provide high-quality, low-cost goods to US consumers, and provide new overseas market opportunities for American companies and workers. It's taken hard work on the part of US negotiators to conclude this agreement, and we congratulate United States Trade Representative Michael Froman and his team for achieving an agreement,” NRF Senior Vice President for Government Relations David French said in a statement.

“International trade supports millions of jobs in the retail industry, and that number will only grow with passage of TPP. NRF looks forward to reviewing the final agreement with our members to identify the benefits for retailers and their customers,” he added.

NRF's recent report titled 'Trade Matters to American Retailers and Families' found that international trade supports 6.9 million US jobs in the retail and restaurant industries alone. Passage of the TPP and the Transatlantic Trade and Investment Partnership – the other major trade agreement currently being negotiated – could help eliminate nearly $6 billion in tariffs that drive up prices of many imported consumer goods.

NRF is the world's largest retail trade association, representing discount and department stores, home goods and specialty stores, main street merchants, grocers, wholesalers, chain restaurants and Internet retailers from the US and more than 45 countries.

Another American fashion label, Gap has also hailed the TPP.

"International trade is vital to the global competitiveness of Gap Inc.,” said Sonia Syngal, Executive Vice President of Global Supply Chain and Product Operations, Gap Inc. “We employ tens of thousands of Americans who work in a variety of positions and professions across our company, and trade helps to sustain these jobs. We applaud the work of United States Trade Representative Mike Froman and other negotiators to conclude the TPP, which will create new opportunities for trade and investment for Gap Inc. and the retail industry.” (SH)

Fibre2Fashion News Desk – India

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