Thank you, Bill, for the introduction. Welcome, everyone.
It’s good to be in an audience with so many friends. I see my friend Anne Alonzo is here. Hello Anne. Thank you so much for all you have done to help promote free and fair trade through this organization. I wish you much success in your new role as Vice President of Global Public Policy with Kraft.
The National Foreign Trade Council is an exceptional organization that understands the role of America in the world economy.
Opening markets is a central piece of President Bush’s pro-growth agenda. Total U.S. exports last year were up 12.7 percent to $1.4 trillion, an all-time record. Our second quarter GDP was 3.8 percent and the single biggest contributor to economic growth was exports.
Now is the time to give American exporters the tools they need to continue to expand and grow.
Congressional approval of the four pending FTAs with Peru, Colombia, Panama and South Korea will further open markets of more than 126 million people with a combined GDP of $1.1 trillion.
The economic case is clear. Our exports to Latin American FTA countries are up by nearly 60 percent since 2001, outpacing the growth in exports to the rest of Latin America and the rest of the world.
Our Latin American FTAs have produced results: Passage of these FTAs will level the playing field for U.S. exporters, create better-paying jobs for Americans, and provide new opportunities for American innovators and entrepreneurs.
Last month, I traveled to Peru, Colombia and Panama. I was overwhelmed by the political and economic progress in each country—particularly in Colombia. I have never seen such a turnaround as I did in Medellin.
Colombia is a foreign policy success story: After decades of violence, poverty and instability, the tides have begun to turn. These FTAs are good for democracy and will help Peru, Colombia and Panama on their paths to peace, true social justice and prosperity.
Last week, President Bush sent Congress the U.S.-Peru Trade Promotion Agreement. We look forward to working with in a bipartisan way to pass all four agreements.
Back in 1961, President John F. Kennedy created the Alliance for Progress for Latin America. As President Kennedy said then, we should seek: “To build a hemisphere where all men can hope for a suitable standard of living and all can live out their lives in dignity and in freedom. To achieve this goal, political freedom must accompany material progress...a tribute to the power of the creative energies of free men and women, an example to the entire world that liberty and progress walk hand in hand.” Ladies and gentleman, I wonder what John F. Kennedy would say about our debate today? I believe he would encourage us to move forward and seek greater cooperation with our hemisphere. Thank you and have a great evening.
Source: U.S. Department of Commerce
