[Federal Register Volume 67, Number 99 (Wednesday, May 22, 2002)]
[Presidential Documents]
[Pages 35893-35894]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-13030]


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  Federal Register / Vol. 67, No. 99 / Wednesday, May 22, 2002 / 
Presidential Documents  

[[Page 35893]]


                Proclamation 7564 of May 17, 2002

                
World Trade Week, 2002

                By the President of the United States of America

                A Proclamation

                Trade plays a vital role in encouraging prosperity and 
                improving the lives of people around the world. It 
                fosters economic growth, ingenuity, and innovation. And 
                it builds high-quality jobs and promotes economic and 
                political stability around the world. During World 
                Trade Week, we recognize the importance of trade to 
                building a brighter future for our Nation and for 
                countries throughout the world.

                Over the last decade, U.S. exports have accounted for 
                as much as a quarter of our Nation's economic growth. 
                Most of our exporters are small- and medium-sized firms 
                that have fewer than 100 employees. An estimated 12 
                million U.S. jobs are supported by our export of 
                manufactured products, agricultural goods, technology, 
                and other goods and services. These jobs are high-
                quality, high-paying positions that provide good wages.

                As the world's largest exporter, the United States is a 
                leader in promoting free trade. Free trade and open 
                markets benefit businesses, employees, and consumers by 
                creating a competitive environment with greater choice 
                and lower prices. We must continue to promote an 
                aggressive trade agenda that opens markets and builds 
                economic opportunity. In support of this goal, my 
                Administration has worked to help secure the entry of 
                China and Taiwan into the World Trade Organization. We 
                also completed trade agreements with Vietnam and Jordan 
                and launched new global trade negotiations in Doha, 
                Qatar. But more remains to be done.

                At present, there are about 150 free trade agreements 
                in effect worldwide, nearly 25 percent of which involve 
                countries in the Western Hemisphere. The United States 
                is a party to only three of these pacts. To give U.S. 
                exporters much broader access to markets throughout the 
                hemisphere, our Nation envisions a Free Trade Area of 
                the Americas (FTAA), an area that would be the world's 
                largest open market. The FTAA would include more than 
                800 million consumers in countries with a combined 
                Gross Domestic Product of around $13 trillion. Our 
                Nation would also benefit from renewal of the Andean 
                Trade Preference Act, which would continue to help 
                create economic alternatives to drug production in 
                Andean region countries.

                Economists have calculated that lowering trade barriers 
                by just one-third will strengthen the world's economic 
                welfare by up to $613 billion and that of the United 
                States by $177 billion. For the average American family 
                of four, that amounts to $2500 of annual savings.

                Another critical step for U.S. economic growth is 
                successful passage of Trade Promotion Authority. Under 
                this legislation, the Congress grants the President the 
                authority to negotiate trade agreements. Trade 
                Promotion Authority demonstrates to our trading 
                partners the alliance that exists between the executive 
                and legislative branches to help raise living standards 
                through out the world. This is vital to securing new 
                free trade agreements with potential negotiating 
                partners.

                Fundamental to free trade is competitive fairness. 
                America's support of an aggressive, forward-looking 
                trade agenda requires that government assist 
                industries' interests when they are challenged by 
                unfair trading practices

[[Page 35894]]

                or subsidies. We must insist that our trading partners 
                honor their commitments. As we open markets for 
                American companies competing internationally, we need 
                tools to secure a level playing field for American 
                businesses. And we will remain committed to improving 
                both the environment and worldwide labor standards.

                In the future, trade will continue to play a crucial 
                role in creating economic and political stability, 
                building democracies, reducing poverty, and 
                contributing to an increased standard of living around 
                the world. Open trade will help ensure a more peaceful 
                and prosperous tomorrow for all people.

                NOW, THEREFORE, I, GEORGE W. BUSH, President of the 
                United States of America, by virtue of the authority 
                vested in me by the Constitution and laws of the United 
                States, do hereby proclaim May 19 through May 25, 2002, 
                as World Trade Week. I encourage all Americans to 
                observe this week with events, trade shows, and 
                educational programs that celebrate the benefits of 
                trade to our economy and the global economy.

                IN WITNESS WHEREOF, I have hereunto set my hand this 
                seventeenth day of May, in the year of our Lord two 
                thousand two, and of the Independence of the United 
                States of America the two hundred and twenty-sixth.

                    (Presidential Sig.)B

[FR Doc. 02-13030
Filed 5-21-02; 8:45 am]
Billing code 3195-01-P