Statement By Francine Lamoriello Executive Vice President, Global Strategies On Trade Promotion Authority Legislation Signed Into Law
“The Personal Care Products Council applauds Congress for passage of Trade Promotion Authority (TPA) legislation.
“We now look forward to continued progress and finalization of the Trans Pacific Partnership (TPP) and Trans-Atlantic Trade & Investment Partnership Agreement (TTIP) – these agreements will provide new opportunities for enhancing the global beauty trade. The TPP Agreement is the first trade agreement that will include specific regulatory coherence provisions for cosmetics and personal care products. These commitments will help American cosmetics and personal care products companies deal with technical regulatory trade barriers that impede our industry’s ability to provide safe, innovative products in a timely fashion to consumers around the world.
“We believe trade agreements such as TPP and TTIP will contribute to significant export growth for the U.S. cosmetics and personal care sector, especially by small and medium sized companies.
“As a dynamic sector of our nation’s economy, our industry is a leader in exports and heavily depends on trade – in 2013, exports exceeded $11 billion. In addition to global companies, our industry also is comprised of small and medium-sized companies, and such free trade agreements as TPP and TTIP will offer new opportunities for these companies to expand their global reach while creating more jobs in the United States.”