Statement by Francine Lamoriello, Executive Vice President, Global Strategies Personal Care Products Council In Response to USITC Report on the Importance of the Trans-Pacific Partnership Agreement (TPP)
“The Personal Care Products Council welcomes the United States International Trade Commission (USITC) report, ‘Trans-Pacific Partnership Agreement: Likely Impact on the U.S. Economy and on Specific Industry Sectors’. The report reinforces our belief that the TPP provides a historic opportunity to facilitate international trade of cosmetics and personal care products by aligning regulatory policies.
“With the inclusion of an Annex on cosmetic products, TPP is the first trade agreement to promote regulatory convergence and address technical barriers to trade that impede the personal care products industry. Among other things, potential benefits include addressing divergent labeling requirements among individual markets, eliminating requirements for Certificates of Free Sale, and eliminating dual registration for products that only differ by shade or fragrance. The Annex provides an important framework for international regulatory best practices that will raise standards and allow our industry to continue to provide safe, innovative products in a timely fashion to consumers around the world.
“The report predicts that there will be an increase in exports towards certain TPP markets that currently have high tariffs. In addition, it will level the playing field allowing U.S. companies to enjoy similar benefits to those in the Association of Southeast Asian Nations and Latin American regional agreements.
“The cosmetic and personal care products industry is a global industry that requires open markets and transparent, consistent regulatory environments. International trade is a critical component to the success of our industry, and significantly contributes to our ability to compete globally, to expand manufacturing and employment, and to support other industries such as advertising, packaging and transportation. Our industry also promotes continued technological innovation and supports small and medium sized businesses.
“Passage of this extraordinary agreement will mean a stronger global personal care products industry, a stronger U.S. economy and more U.S. jobs. We urge Congress to recognize this historic achievement and ratify this agreement.”