[House Document 112-59]
[From the U.S. Government Publishing Office]



112th Congress, 1st Session - - - - - - - - - - House Document 112-59

  LEGISLATION AND SUPPORTING DOCUMENTS TO IMPLEMENT THE UNITED STATES-
                    PANAMA TRADE PROMOTION AGREEMENT

                               ----------                              

                                MESSAGE

                                  from

                   THE  PRESIDENT  OF  THE  UNITED  STATES

                              transmitting

   CONSISTENT WITH THE TRADE ACT OF 2002, LEGISLATION AND SUPPORTING 
    DOCUMENTS TO IMPLEMENT THE UNITED STATES-PANAMA TRADE PROMOTION 
                               AGREEMENT

                                     






   October 4, 2011.--Message and accompanying papers referred to the 
         Committee on Ways and Means and ordered to be printed



112th Congress, 1st Session - - - - - - - - - - House Document 112-59
 
  LEGISLATION AND SUPPORTING DOCUMENTS TO IMPLEMENT THE UNITED STATES-
                    PANAMA TRADE PROMOTION AGREEMENT

                               __________

                                MESSAGE

                                  from

                   THE PRESIDENT OF THE UNITED STATES

                              transmitting

   CONSISTENT WITH THE TRADE ACT OF 2002, LEGISLATION AND SUPPORTING 
    DOCUMENTS TO IMPLEMENT THE UNITED STATES-PANAMA TRADE PROMOTION 
                               AGREEMENT

                                     




   October 4, 2011.--Message and accompanying papers referred to the 
         Committee on Ways and Means and ordered to be printed

                           U.S. GOVERNMENT PRINTING OFFICE

70-545                              WASHINGTON : 2011



To the Congress of the United States:
    I am pleased to transmit legislation and supporting 
documents to implement the United States-Panama Trade Promotion 
Agreement (Agreement). The Agreement is an important part of my 
Administration's efforts to spur economic growth, increase 
exports, and create jobs in the United States, while promoting 
our core values. The Agreement will create significant new 
opportunities for American workers, farmers, ranchers, 
manufacturers, investors, and businesses by opening the 
Panama's market and eliminating barriers to U.S. goods, 
services, and investment.
    The Agreement also represents an important development in 
our relations with Panama, and accords with the goal, as 
expressed by the Congress in the Caribbean Basin Trade 
Partnership Act, to conclude comprehensive, mutually 
advantageous trade agreements with beneficiary countries of the 
Caribbean Basin Initiative trade preference program. The 
Agreement further reflects a commitment on the part of the 
United States to sustained engagement in support of democracy, 
economic growth, and opportunity in Panama and the region.
    Panama is one of the fastest growing economies in Latin 
America. Upon entry into force of the Agreement, Panama will 
immediately eliminate its tariffs on over 87 percent of U.S. 
exports of consumer and industrial goods and on more than half 
of U.S. exports of agricultural goods. Panama will eliminate 
most other duties on U.S. exports within a 15-year transition 
period. Eighty-five percent of U.S. businesses exporting to 
Panama are small and medium-sized enterprises. The elimination 
of duties provided for in the Agreement will help to level the 
playing field for them and for all U.S. exporters, based on 
2010 trade flows, as approximately 98 percent of our imports 
from Panama already enjoy duty-free access to the U.S. market. 
In addition, the Agreement will give American service providers 
greater access to Panama's $20.6 billion services market.
    The Agreement contains state of the art provisions to help 
protect and enforce intellectual property rights, reduce 
regulatory red tape, and eliminate regulatory barriers to U.S. 
exports. The Agreement also contains the highest standards for 
protecting labor rights, carrying out covered environmental 
agreements, and ensuring that key domestic labor and 
environmental laws are enforced, combined with strong remedies 
for noncompliance. Panama has already made significant reforms 
related to the obligations it will have under the labor 
chapter.
    As a part of an ambitious trade agenda, it is important 
that the Congress renew a strong and robust Trade Adjustment 
Assistance Program consistent with reforms enacted in 2009. 
Renewal of the program is necessary to support Americans who 
need training and other services when their jobs are adversely 
affected by trade. As we expand access to other markets abroad, 
we need to ensure that American workers are provided the tools 
needed to take advantage of these opportunities and are not 
left behind in the global economy.
    Approval of the Agreement is in our national interest. The 
Agreement will strengthen our economic and political ties with 
Panama, support democracy, and contribute to further economic 
integration in our hemisphere and economic growth in the United 
States. I urge the Congress to enact this legislation promptly.

                                                      Barack Obama.
    The White House, October 3, 2011.




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