TMCnet News
UPS Applauds ITC Report on Barriers Facing Express Industry WASHINGTON --(Business Wire)-- April 8, 2004 -- UPS (NYSE: UPS) today commended the International Trade Commission (ITC) for the completion and release of a research report spotlighting the barriers that confront U.S. express companies when they compete overseas.The study illustrates the importance of express delivery services to the U.S. economy and concludes the delivery sector is affected by a wide range of regulatory hurdles related to customs, market access and fair competition with government-granted foreign postal monopolies. In particular, it addresses the issue that postal monopolies sometimes act to impede competition by cross-subsidizing competitive services with profits gained from their monopoly-protected operations. The ITC is an independent, nonpartisan, fact-finding federal agency. The investigation was conducted at the request of Rep. Bill Thomas (R-Calif.), chairman of the House Ways and Means Committee, with the support of Trade Subcommittee Chairman Phil Crane (R-Ill.). UPS applauds the foresight of the Ways and Means Committee in initiating this study as well as the efforts of the ITC commissioners and staff in the timely conclusion of such a complex investigation, said UPS spokesman David A. Bolger. We believe this study, which highlights the importance of reducing foreign barriers to express delivery services, now can be used by U.S. negotiators in ongoing and future trade negotiations to obtain strong commitments for our industry. UPS is the world's largest package delivery company and a global leader in supply chain services, offering an extensive range of options for synchronizing the movement of goods, information and funds. Headquartered in Atlanta, Ga., UPS serves more than 200 countries and territories worldwide. UPS's stock trades on the New York Stock Exchange (UPS), and the company can be found on the Web at UPS.com. |
