Kurt Nagle, President and CEO of the American Association of Port Authorities (AAPA) – the recognised and coordinated voice of seaports in the Americas – has released a statement to welcome the completion of negotiations toward the Trans-Pacific Partnership (TPP) agreement.
Mr Nagle said: “As a long supporter of trade policy based on equity and fairness, AAPA endorses the Trans-Pacific Partnership agreement between the US and its trading partners in the Pacific.
“The prosperity of the US is inextricably entwined with that of the rest of the world. We believe this agreement, and others pending, will increase trade and US exports. This increase in trade will provide more jobs in our ports and throughout the nation.
“America’s seaports deliver vital goods, ship US exports, create jobs, and support local and national economic growth. Cargo activity at US ports currently accounts for over a quarter of the US economy and US$650 billion in personal income, supports the employment of over 23 million American workers, and generates over $320 billion in local, state and federal tax revenues.
“These enormous impacts will increase further due to the trade growth anticipated as a result of the TPP agreement. For every additional $1 billion in exports shipped through US seaports, 15,000 US jobs are created. Jobs in export-intensive industries pay up to 18 percent more, on average, than jobs in other industries. The Trans-Pacific Partnership is good for American ports and American jobs.”
Fact File: Founded in 1912, the AAPA represents more than 130 of the leading seaport authorities in the US, Canada, Latin America and the Caribbean and about 300 sustaining, associate and honorary members, firms and individuals with an interest in seaports. As a critical link for access to the global marketplace, each year, Western Hemisphere seaports generate about US$9 trillion of economic activity, support the employment of tens of millions of people and import and export about 8 billion tons of cargo. To meet these demands, the AAPA and its members are committed to keeping seaports navigable, secure and sustainable.