[Congressional Record Volume 157, Number 160 (Monday, October 24, 2011)]
[Extensions of Remarks]
[Page E1917]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 SUPPORT OF H.R. 3079, THE U.S.-PANAMA FREE TRADE PROMOTION AGREEMENT 
                       IMPLEMENTATION ACT (PFTA)

                                 ______
                                 

                        HON. CAROLYN B. MALONEY

                              of new york

                    in the house of representatives

                        Monday, October 24, 2011

  Mrs. MALONEY. Mr. Speaker, I rise today in support of H.R. 3079, the 
U.S.-Panama Free Trade Promotion Implementation Act.
  At House Democrats insistence, the Panama FTA was renegotiated to 
require Panama to comply with international labor standards and 
environmental agreements.
  Additionally, at the urging of House Democrats, the Obama 
Administration continued negotiations with Panama and ultimately 
achieved completion of the U.S.-Panama Tax Information Exchange 
Agreement (TIEA), ensuring necessary tax transparency and addressing 
concerns about Panama's status as a tax haven.
  This agreement is expected to increase our current trade surplus with 
Panama, which was $5.7 billion in 2010, and level the playing field by 
eliminating Panama's import duties on U.S. goods.
  This renegotiated agreement deserves our support, and that is why I 
vote in favor today.

                          ____________________