[Congressional Record Volume 140, Number 67 (Wednesday, May 25, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: May 25, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
        PARITY TO CARIBBEAN NATIONS AS PART OF GATT LEGISLATION

  (Mr. BACCHUS of Florida asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. BACCHUS of Florida. Mr. Speaker, today the White House is 
announcing that as part of the GATT implementing legislation, they will 
be seeking parity for the Caribbean Basin nations with the Nation of 
Mexico. This is a very important development and it is one that will be 
of benefit to the nations of the Caribbean and to us here in the United 
States as well.
  In particular, it will be of benefit to my constituents in Florida 
and to our entire State which has a tremendous two-way trade with the 
Caribbean Basin.
  Mr. Speaker, as a nation we have a tremendous trade surplus, a job 
creating trade surplus with the Caribbean Basin. In 1992 our exports to 
those countries exceeded $11 billion, up more than 10 percent from 
1991, creating more than 220,000 American jobs. This extension of 
parity to the Caribbean nations as part of the GATT legislation will 
preserve and protect the recent economic progress of the region, will 
create more jobs there and here, will provide some stability to their 
fragile democracies and do much to improve the chances of peace and 
prosperity in our hemisphere and around the world.

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