New York - Citi issued the following statement on the Trans-Pacific Partnership agreement reached today between the United States and eleven international countries.
"Citi congratulates the twelve negotiating parties for reaching an agreement in principle on a final text for the Trans-Pacific Partnership (TPP) after five years of intense and complex negotiations.
"The TPP will establish a free trade area in the Pacific Rim that will set comprehensive and enforceable disciplines for trade and investment among its members. These rules will serve to create a more predictable business environment that will facilitate trade and foreign direct investment between the most dynamic and forward-looking economies in the world. This will mean more growth and jobs for these economies. The agreement also is an important expression of the respective governments' confidence in the power of competition, freedom of movement of capital, goods and services.
"In the days ahead, Citi will examine in detail the terms of the agreement that now will be made public and work with all stakeholders as they move forward with the agreement's approval and implementation."
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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