Strong Support Shown For US-Peru Trade Promotion Agreement

by Glen Shapiro, LawAndTax-News.com, New York

16 November 2007

A strong show of support has been in evidence in recent days for the new US-Peru trade promotion agreement.

Earlier this month, US Trade Representative Susan Schwab welcomed the House Ways and Means Committee's approval of a draft US-Peru free trade agreement (FTA), which implements language incorporating new labor standards and environmental protection measures.

The US-Peru FTA is the first trade agreement that incorporates the environmental and labor requirements, resulting from the landmark bipartisan trade deal struck between Congress and the administration in May.

Commenting in support of the agreement, David C. Lizárraga, Chairman of the Board, United States Hispanic Chamber of Commerce observed that:

"It is through trade and economic development that Latin American countries will generate employment, ameliorate poverty, control migration, increase wealth, and strengthen the democratic institutions through which our countries can be better allies."

He continued:

"The USHCC is pleased with the approval of this trade agreement and we encourage the Congressional leadership to schedule and pass the upcoming Panama and Colombia agreements as well.

Thomas Donohue, President and CEO of the US Chamber of Commerce also lent his organization's support to the FTA, announcing that:

"A new bipartisan agreement made it possible to approve the US-Peru Trade Promotion Agreement, and those commitments have been included in the trade agreements with Colombia, Panama, and Korea. The Chamber is committed to working with the Congress to see these three vital agreements approved as soon as possible."

Bill Lane, Caterpillar, Co-Chair, Latin America Trade Coalition continued the supportive stance from the business and trade communities, observing that: "The simple fact is that free trade agreements work."

He went on to state that:

"They not only increase economic growth, but raise living standards in both countries as consumers have more choices at lower prices. "This vote is a great step toward restoring the bipartisan consensus on trade, and we congratulate the leadership of both parties for their hard work."

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