WASHINGTON, DC, Nov. 28, 2011 -- A deal reached during the recent Asia Pacific Economic Cooperation summit in Hawaii will reduce tariffs on environmental goods and services among the 21 Asia Pacific countries, including the United States and China.
The Water and Wastewater Equipment Manufacturers Association (WWEMA) applauded the agreement. "Coming on the back of the free trade agreements signed between the U.S. and Korea, Columbia and Panama, this announcement lent further support for the need to break down barriers to trade and allow companies that manufacture water and wastewater technologies to bring needed solutions to the environmental challenges facing the globe," stated WWEMA President Dawn Kristof Champney.
This commitment by all 21 APEC leaders will result in the elimination of local content requirements by 2012 and the reduction of applied tariff rates to 5 percent or less by 2015.
"We commend the work of the Obama Administration, particularly that of the Office of the U.S. Trade Representative, in helping shepherd this important agreement and turn the tide on what has been a wave of protectionist trade measures which stifle competition, increase costs, delay projects and destroy jobs at a time when we need to repair our infrastructure, reinvest in our workforce, and provide essential water supply and sanitation services to all," Champney noted.
Negotiators have up to one year to develop the list of environmental goods and services that will be covered by this agreement.
Since 1908, WWEMA has informed, educated and provided leadership on the issues that shape the future of the water and wastewater industry. Its members supply the most sophisticated leading products and technology, offering solutions to every water-related environmental problem and need facing today's society.