Press Release

Commerce Secretary Carlos M. Gutierrez Statement on Senate Finance Committee Moving Forward with Peru Trade Promotion Agreement

WASHINGTON—Today Commerce Secretary Carlos M. Gutierrez issued a statement on the Senate Finance Committee setting September 11, 2007 as the hearing date for the Peru Trade Promotion Agreement.

“I’m pleased the Senate Finance Committee set the hearing date for next week for the U.S.-Peru Trade Promotion Agreement. The agreement would provide economic opportunity and eliminate barriers so American workers, businesses and farmers can compete and win in the Peruvian market.

“Congress already allows ninety-eight percent of imports from Peru to enter the United States duty free, while U.S. exports to Peru currently face significant barriers. This agreement would provide U.S. businesses duty-free access to Peru’s growing market.

“U.S. exports are now at a historically high level. This is the time to give American exporters the tools needed to expand and grow.

“Setting the hearing is a good first step, and I hope Congress will swiftly approve the Peru-FTA, so that it can then move on to helping pass our FTAs with Colombia, Panama and Korea.

“The countries with which we have implemented free trade agreements represent just 7.5 percent of global GDP, yet more than 42 percent of all U.S. exports are headed to our FTA partners. Last year, exports to the 11 countries with which we implemented FTAs between 2001 and 2006 grew faster than U.S. exports to the rest of the world.

“The Administration has worked hard, and in a bipartisan fashion, to promote U.S. exports and looks forward to working closely with Congress to continue this record of success with the assistance of Trade Promotion Authority.”