MetLife Statement on Trans-Pacific Partnership
November 18 2015 - 7:00AM
Business Wire
Steven A. Kandarian, chairman, president and CEO of MetLife,
Inc. (NYSE:MET), issued the following statement today on the
Trans-Pacific Partnership (TPP), a free trade agreement among 12
nations of the Pacific Rim.
“After analyzing the text of the TPP, MetLife will support the
agreement and seek congressional support for its ratification.
“As one of the largest life insurers in the world with
operations in nearly 50 countries, MetLife has four key priorities
in assessing any trade deal: improved market access, a level
competitive playing field, ease of cross-border data flows, and
regulatory transparency. The TPP makes meaningful progress on all
of them.
“We are confident that ratification of the TPP will lead to
faster economic growth, greater choice and lower costs for
consumers in the markets where we do business, and more high-paying
jobs in the U.S.
“The agreement is not perfect – no trade deal is – but on
balance the TPP represents a significant step in the right
direction and deserves to be ratified.”
MetLife has operations in eight of the 12 countries represented
in the TPP: Australia, Chile, Japan, Malaysia, Mexico, Vietnam,
Singapore and the United States. Specific benefits MetLife sees
from the TPP include:
- Increased market access, which will
benefit the region’s growing middle class by providing greater
access to insurance products and financial security.
- Stronger provisions to level the
playing field. The first-ever chapter on state-owned enterprises
will set out new terms for competition in the region.
- Enhanced regulatory transparency, which
will require prior-notice of legal and regulatory changes and the
opportunity for industry to provide comments.
- Assurances that data will be able to
flow freely across borders, an important outcome for MetLife’s
global business.
About MetLife
MetLife, Inc. (NYSE:MET), through its subsidiaries and
affiliates (“MetLife”), is one of the largest life insurance
companies in the world. Founded in 1868, MetLife is a global
provider of life insurance, annuities, employee benefits and asset
management. Serving approximately 100 million customers, MetLife
has operations in nearly 50 countries and holds leading market
positions in the United States, Japan, Latin America, Asia, Europe
and the Middle East. For more information, visit
www.metlife.com.
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MetLife, Inc.Chris Stern, 202-974-5477
MetLife (NYSE:MET)
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