AdvaMed supports Senate move to speed along free trade agreements with Asia, Europe

Democrats and Republicans just agreed to send "fast track" Trade Promotion Authority legislation to the Senate for a vote. Granting the president fast-track trade promotion authority allows Congress to vote on free trade agreements on a yes, no basis; if passed, Congress would not have the authority to make amendments to the agreements. That's so other countries have confidence that any agreement with the U.S. will not be tinkered with by lawmakers. President Obama is looking to finalize the Trans-Pacific Partnership with Asian and Latin American countries. The Transatlantic Trade and Investment Partnership with Europe is also being negotiated. AdvaMed came out in support of the legislative initiative. "Of significance in the bipartisan TPA (trade promotion authority) bill is a principle negotiating objective to improve regulatory practices through transparency and procedural fairness in medical technology reimbursement. This provision will aim to increase transparency and opportunity for the participation of stakeholders in the development of regulations and ensure that government regulatory reimbursement regimes are transparent, ensure procedural fairness and provide full market access for U.S. products. Similar provisions are included in the U.S.-Korea Free Trade Agreement," said AdvaMed CEO Stephen J. Ubl in a statement. More on the upcoming vote | Here's AdvaMed's take

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