Trade with Pacific Ocean-zone partners supported about 103,000 Nebraska jobs in 2011, and received 47 percent of Cornhusker exports last year, according to Business Roundtable, a Washington-based association of large U.S. companies.
“The 11 other U.S. Trans-Pacific Partnership countries represent critical markets for U.S. goods and services exports, accounting for a combined population of 482 million people and representing roughly 15 percent of global trade,” said Business Roundtable President John Engler. “The TPP holds significant potential to create new opportunities for Nebraska, all 50 states, and the overall U.S. economy to benefit from increased commercial engagement with these countries.”
In addition to the United States, the TPP countries include Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
Business Roundtable said Nebraska exported about $3.4 billion worth of goods last year to the six TPP countries that are free trade partners – Australia, Canada, Chile, Mexico, Peru and Singapore – accounting for about 35 percent of Nebraska’s exports.
The group said the trade partnership will open new markets for Nebraska with the five countries that are not free-trade partners – Brunei, Japan, Malaysia, New Zealand and Vietnam. Nebraska exported $1.1 billion in goods in 2012 to those countries, Business Roundtable said.