New Report Reveals Enormous Benefits of TPP Only Realized if Strong Protections in Place to Protect Innovation, Spur Job Creation in all Member Countries.
Washington, D.C. (December 17, 2013) – NDP Analytics today released a new study analyzing the substantial economic boost that countries participating in the Trans Pacific Partnership (TPP) stand to achieve from one of the most ambitious free trade agreements in history. The report, titled “The Economic Benefits of Intellectual Property Rights in the Trans-Pacific Partnership,” finds that two-thirds of the total economic benefits of the TPP would come from intellectual property (IP)-related manufacturing industries. The authors argue that stronger protection of IP rights in the TPP leads to greater economic growth and development across all participating countries.
“There is no question that strong intellectual property protections benefit all TPP nations, and that IP is the linchpin to maximizing the full potential of the TPP,” said Nam D. Pham, PhD, Managing Partner of NDP Analytics. “As our latest research shows, critics of IP rights in the TPP both at home and abroad are far off base. Indeed, an agreement that weakens IP rights will significantly dilute any economic benefits for all participating countries, and could cause a backslide in future innovation across all TPP partners.”
The study finds that a TPP agreement including IP protections at least as strong as current U.S. law would have the following effects:
Boost U.S. manufacturing exports by $26 billion and increase U.S. GDP by $11 billion, two-thirds of which would be derived from IP-intensive industries
Create up to 48,000 new jobs in the U.S. economy
U.S. companies’ exports to their foreign affiliates in the TPP result in $6.4 billion combined additional increase in local GDP and over 68,000 new jobs created in those nations