Cargill welcomes the entry of Mexico and Canada into the Transpacific Partnership trade negotiations

WINNIPEG, Manitoba, June 21, 2012 /PRNewswire/ -- It was announced Tuesday that leaders of the current Transpacific Partnership (TPP) have invited Mexico and Canada to join the TPP trade negotiations.  Cargill applauds their entry. 

Currently TPP includes nine countries: Singapore, Brunei Darussalam, United States, New Zealand, Australia, Malaysia, Peru, Chile, and Vietnam.  Among TPP countries, Cargill has existing investments in Australia, Peru, Singapore, Vietnam, Malaysia, the United States, Canada and Mexico.

"Cargill has supported the inclusion of Mexico and Canada in the TPP from the start.  We also support Japan's entry into the negotiations," said Greg Page, Cargill chairman and chief executive officer.  "We have believed all along that in order for the agreement to be commercially meaningful, TPP must include other significant trading partners, and we are pleased with the decision on Mexico and Canada's entry."

The TPP negotiations present an opportunity for greater economic growth through trade and investment liberalization among Pacific economies. The negotiations create the potential to simplify trade in the region, to unravel the complexities of each country's standards and regulations, while setting in place a higher standard of trade and investment provisions and protocols. The agreement will lead to employment growth as well as enhanced economic opportunity.  It is estimated that every $1 billion in agricultural exports supports 9,000 jobs.   

"TPP commitment to free trade supports Cargill's business purpose of addressing the issue of food security.  The agreement will address regional food security concerns.  Trade barriers will be eliminated so that food can move unencumbered from places of surplus to places of deficit," added Page. 

Cargill commends the leaders of the TPP economies for their commitment to open trade in the region.

About Cargill
Cargill is an international producer and marketer of food, agricultural, financial and industrial products and services. Founded in 1865, the privately held company employs 139,000 people in 65 countries. Cargill helps customers succeed through collaboration and innovation, and is committed to applying its global knowledge and experience to help meet economic, environmental and social challenges wherever it does business. For more information, visit Cargill.com and its news center.

SOURCE Cargill

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