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AdvaMed Applauds Senate Passage of Trade Promotion Bill
WASHINGTON, D.C. - Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), issued the following statement on passage of bipartisan legislation in the Senate to modernize and renew Trade Promotion Authority (TPA):
“AdvaMed applauds passage by the Senate of bipartisan legislation which will allow America’s medical technology companies to provide life-changing innovations to more patients worldwide while helping one of the drivers of the U.S. economy continue to grow.
“The medical technology sector is one of the few American manufacturing industries that maintains a positive balance of trade, with $42 billion in U.S. exports. International markets offer tremendous opportunities for additional growth: the medical technology markets in India, China, Japan and Europe are already worth more than $150 billion each year.
“Continued industry growth outside the U.S. will depend on the development and approval of trade agreements that provide a level-playing field for U.S. companies and improve access to the global market.
“The U.S. Trade Representative is currently working to advance priority issues for the medical technology industry as part of the Trans-Pacific Partnership (TPP) and the Transatlantic Trade and Investment Partnership (TTIP), both of which will greatly improve market access to medical technology in these regions. The TPA legislation builds a foundation for these agreements and helps to ensure the U.S. has a prominent seat at the table when future free trade agreements are negotiated.
“With passage of TPA in both the House and Senate, we look forward to the president signing this important legislation in the near future.”
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