[Congressional Record Volume 140, Number 145 (Friday, October 7, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: October 7, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
            HISPANIC BUSINESSES AND HISPANIC HERITAGE MONTH

 Mr. BINGAMAN. Mr. President, I rise today to recognize the 
role of Hispanic businesses in promoting trade and exports. As we are 
currently celebrating Hispanic Heritage Month, it seems a particularly 
good time to recognize this important contribution to our nation's 
economy.
  International trade between the United States and Spanish-speaking 
Mexico was given a tremendous boost last year when Congress approved 
the North American Free-Trade Agreement. This historic agreement, which 
removes trade barriers, tariffs, and other restrictions on the flow of 
goods, services, and investment among the United States, Mexico, and 
Canada, would likely not have been possible without the support of 
Hispanic Americans.
  For Hispanics, NAFTA did not occur in a vacuum nor was it just 
another trade agreement. Although the number of Hispanic Americans has 
increased dramatically, Hispanic economic and political empowerment has 
yet to be fully realized in this Nation. Furthermore, Hispanic 
Americans face discrimination linked in part to antiimmigrant 
sentiments. Many Hispanics saw NAFTA as an opportunity to significantly 
participate in the development of policy that could help rebuild their 
communities, improve quality of life, and combat racism. In an 
increasingly global economic framework, many also saw an opportunity 
for the United States to move beyond its traditional focus of trade 
with Canada and along an East-West axis. For the first time since the 
demise of the Camino Real and other colonial trade routes, the United 
States had the opportunity to look south, toward Latin America, for 
trading partners.
  Hispanics seized upon the opportunity provided by the NAFTA debate to 
not only discuss the economic benefits of improved trade relations with 
Mexico but to ensure that Hispanics and Hispanic communities would 
benefit from the job opportunities and economic development NAFTA would 
spawn. They highlighted the need for sustainable economic development, 
increased resources for border development, and community involvement 
in decisions affecting them. These efforts led to the creation of the 
North American Development Bank, a binational entity that will help 
generate billions of dollars of new resources to meet border needs. 
Hispanics also contributed to calling attention to the underlying 
consequences of immigrant bashing occurring in the United States, 
fueled in part by the ignorance in the United States about Mexico and 
Latin America.
  Leading Hispanic organizations developed a Hispanic consensus on 
NAFTA to present to U.S. policymakers. Mexico, which had earlier 
reached out to develop a long-term working relationship with Hispanic 
Americans, opened its NAFTA process to them to forge an agreement that 
better addressed the vision of Hispanics through conferences and 
seminars, inviting Hispanic leaders to Mexico, and creating 
opportunities to assist Hispanics doing business in Mexico.
  This month, as we celebrate Hispanic Heritage Month, we need to add 
to the long list of Hispanic contributions to our nation this 
contribution to the expansion of trade with Mexico and Latin America 
and the renewed efforts that will be focused on border development. 
These efforts are already paying dividends. Trade with Mexico has 
surpassed that with Japan. Recent studies have shown that Hispanic-
owned businesses are increasing dramatically. There are now 720,000 
Hispanic-owned businesses in the United States, generating more than 
$30 billion in sales. Those involved in international trade are growing 
faster than nonexporting businesses. U.S. companies are also hiring 
record numbers of Hispanics as they expand their export-related 
activities. Furthermore, both Mexico and the United States are focusing 
on improving the infrastructure along the border.
  As a result of contributions of Hispanics and their working 
relationship with Mexico, Americans can look forward to a cleaner 
environment, to more and better jobs, to increased living standards, to 
badly needed border infrastructure, and to improved quality of life on 
both sides of the United States-Mexico border.
  In short, we have one more reason to reflect upon Hispanics' 
contributions to our country. I join in those saluting the Hispanic 
community and its achievements during this Hispanic Heritage 
Month.

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