Free Trade Agreements

President Bush: "Free and fair trade is in our mutual interests. What's interesting about free and fair trade amongst the nations is that the people benefit. ... It's important for the American people to understand that exports benefit workers. Half of our growth last year was the result of trade. And therefore, it's in our interest to continue to open up markets, particularly in our own neighborhood. There are three free trade agreements pending in the Congress today: South Korea, Panama and Colombia. Obviously, two of those are with nations in our own hemisphere. The Colombia free trade agreement will be good for Colombia; it will be good for America." Full Text | Colombia Fact Sheet

Secretary Rice (Sept. 24): "President George W. Bush met this morning with leaders and representatives from eleven countries in the Western Hemisphere with which we have negotiated free trade agreements to launch the Pathways to Prosperity in the Americas initiative. Pathways will deepen existing partnerships and cooperation to ensure that the benefits of free trade and open investment are broadly shared throughout our societies. The leaders recognized the progress that has been made in the hemisphere to reduce poverty, open economies, and strengthen democracies." Statement | Pathways to Prosperity Fact Sheet

Free trade agreements have proven to be one of the best ways to open up foreign markets to U.S. exporters. The U.S. has agreements in force with 14 countries: Australia, Bahrain, Canada, Chile, Dominican Republic, El Salvador, Guatemala, Honduras, Israel, Jordan, Mexico, Morocco,  Nicaragua, and Singapore. Agreements with three countries--Costa Rica, Oman, and Peru--are pending implementation. In 2007, trade with countries that the U.S. has free trade agreements was significantly greater than their relative share of the global economy: although comprising 7.5% of global GDP (not including the U.S.), those countries accounted for over 42% of U.S. exports.

Pending Free Trade Agreements

Colombia	Panama	South Korea
Colombia Free Trade Agreement Documents	Panama Free Trade Agreement Documents	South Korea Free Trade Agreement Documents
Fact Sheet About the Agreement	Fact Sheet About the Agreement	Fact Sheet About the Agreement

Fact Sheets

• Doing Business with Peru, Colombia, and Panama: New World Bank Report Shows Significant Improvement
• Free Trade Agreements and the Environment
• Free Trade with Peru, Colombia, and Panama
• Peru, Colombia, and Panama: Transforming the Future of the Americas

Remarks on Free Trade and Open Markets

• Secretary Rice: Remarks at the World Steel Association (October 7, 2008)
• Assistant Secretary Sullivan: U.S. and Trade Partners Expand Cooperation (September 30, 2008)
• Secretary Rice: Keeping Promises Among Partners (July 24, 2008)
• More remarks

Free Trade Agreement Websites

• TradeAgreements.gov
• U.S. Trade Representative
• U.S. Department of Commerce
• U.S. Department of Agriculture
• U.S. Chamber of Commerce - Trade Roots
• State-by-State Benefits from Trade (Business Roundtable)