UPS Applauds Landmark WTO Trade Facilitation Agreement

UPS ®, a global logistics provider and leading advocate for global trade, welcomes today’s news of an agreement struck at the World Trade Organization to facilitate global commerce and support growth in developing countries. After years of debate and compromise, the World Trade Organization (WTO) successfully delivered a trade package at the WTO’s 9 th Ministerial Conference, reconfirming the organization’s ability to serve as a forum for negotiation of global trade rules.

“This break-through agreement among 159 nations is a giant step forward for businesses large and small in expediting the movement of goods globally and reducing unnecessary paperwork,” said Scott Davis, UPS chairman and CEO. “While there remain areas where additional progress is necessary, the trade facilitation agreement provides a new base from which we can continue to elevate customs standards. This could further support the pending Trans-Pacific Partnership (TPP) Agreement and Transatlantic Trade and Investment Partnership (TTIP) negotiations.”

The final agreement includes a set of commitments that will help increase global trade, reduce administrative costs and delays at the border as well as help promote economic development among the world’s poorest countries.

UPS wishes to congratulate and extend our thanks to U.S. Trade Representative Michael Froman, U.S. Ambassador to the WTO Michael Punke and the full team of dedicated USTR negotiators, who helped achieve this important milestone.

UPS (NYSE:UPS) is a global leader in logistics, offering a broad range of solutions including the transportation of packages and freight; the facilitation of international trade, and the deployment of advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. The company can be found on the Web at UPS.com and its corporate blog can be found at blog.ups.com. To get UPS news direct, visit pressroom.ups.com/RSS.

Copyright Business Wire 2010

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