    [Public Papers of the Presidents of the United States: George W. Bush (2007, Book II)]
    [November 6, 2007]
    [Pages 1430-1433]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks at the White House Forum on International Trade and Investment
    November 6, 2007

        Thank you all. Please be seated. Thanks for coming. Good morning.
    Thank you for coming by the White House. I'm proud to be with you. I'm
    impressed by the fact that the men and women in this room lead some of
    our finest companies and trade organizations. I appreciate your
    engagement and interest in public policy. I appreciate your creativity
    in making sure our Nation remains the leading economic force in the
    world.
        And I want to share with you some thoughts about an important debate
    that we're engaged in here, and I believe the outcome of this debate
    will determine whether we embrace new opportunities for free and fair
    trade or whether or not we'll become protectionists. My position is
    clear: We will work with Congress to open up new markets for American
    goods and services and farm products to make sure this economy continues
    to grow and our people have a high standard of living.
        I appreciate the members of my Cabinet and team who are here.
    Secretary of the Treasury Hank Paulson
    has joined us--strong believer in free trade and open markets. Mr.
    Secretary, thank you. Ambassador Sue Schwab,
    who is responsible for opening up markets for U.S. goods and services,
    appreciate you coming, Ambassador. I want to thank Acting Secretary of
    the Agriculture Chuck Conner. If you're an
    American farmer or an American rancher, you ought to be supporting
    administrations and people in Congress who understand that your
    livelihood depends upon your capacity to sell overseas. We want people
    eating product grown here in the United States of America. That's what
    we want. I want to thank other administrative officials, and thank you
    all.
        As I understand it, you understand how trade benefits this Nation.
    Free and fair trade allows your companies to sell more goods and more
    services. You understand what I understand: Free and fair trade means
    higher paying jobs for American workers. If you're a worker in a company
    that's selling overseas, you're more likely to be paid more than a
    counterpart.
        Free trade helps provide American consumers with better choices at
    better prices. That's what we want for an American consumer. We want
    people to go in the marketplace and have a variety of choices. We want
    people competing for their dollar, and when people compete for the
    dollar, it means somebody is going to get a better price.
        Trade is also one of the driving forces behind the strength of our
    economy. Last week, we learned our economy created 166,000 new jobs in
    October; that's the 50th straight month of job growth. That's the
    longest period of uninterrupted job

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    growth on record. Interestingly enough, we also learned that our economy
    grew at 3.9 percent in the third quarter. Much of the growth was the
    result of record exports. Our exports now account for a larger
    percentage of GDP than at any other time in our history. We need to keep
    the economy growing. We need to continue to open up markets.
        When I took office, the United States had free trade agreements in
    force with just 3 countries, and now we have agreements in force with 14
    countries. These agreements are expanding opportunities for businesses
    like yours. Take Caterpillar: Since we implemented our free trade
    agreement with Chile in 2004, Cat's exports to that country have more
    than doubled. And that's good if you're a worker at a Caterpillar plant.
    If that plant is selling more product overseas, it means you're more
    likely to get a pay raise and have stability in your job. Consumers
    around the world have a choice. The products they often choose say
    ``Made in the United States of America.''
        Congress needs to open up new markets for trade and investment by
    improving free trade agreements with Peru, Colombia, Panama, and South
    Korea. The first three of these agreements are with vital trade partners
    in our own hemisphere, in our own neighborhood. Together, Peru,
    Colombia, and Panama represent 75 million potential customers with a
    combined GDP of $245 billion. Over the last 5 years, American exports to
    these countries have nearly doubled, yet our products still face
    significant tariffs when they enter these markets. By passing free trade
    agreements, we can eliminate many of the tariffs, we can level the
    playing field for our products, we can provide new legal--new
    opportunities and legal protections for our investors, and we can
    strengthen our friendship with fellow democracies.
        Over the last three decades, most of Latin America has embraced
    democracy. That's positive. Now these young democracies are trying to
    build a better life for their citizens. Leaders like President
    Uribe of Colombia have taken brave steps
    to fight terrorists and drug traffickers, to strengthen the rule of law,
    and to open up their economies.
        These friends of America are waiting to see what Congress will do
    with the trade agreements we have concluded with our neighbors in the
    region. People are watching the actions of the U.S. Congress very
    carefully. Champions of false populism in the region are watching
    Congress. They will use any failure to approve these trade agreements as
    evidence that America will never treat democracies in the region as full
    partners.
        The time has come for Congress to act. We've negotiated fair
    agreements, and now it's up to the Congress. It's time for the Congress
    to pass these trade agreements to help build a hemisphere that lives in
    liberty and trades in freedom and grows in prosperity. These trade bills
    are important economic measures, and they are important national
    security measures as well.
        Last week, the House Ways and Means took a positive step by voting
    39 to 0 in favor of our agreement with Peru. Now the full House and
    Senate needs to follow suit. I urge the Members to pass our agreement
    with Peru quickly, by a large bipartisan majority, and then bring our
    agreements with Colombia and Panama up for votes as soon as possible.
    It's not acceptable to pass one trade agreement and let the others
    languish. It's not fair to pick out one country and not support the
    trade agreement with the other two in our hemisphere.
        As we expand trade in Latin America, we also need to pass a free
    trade agreement with a vital democratic ally in the Far East, and that's
    South Korea. South Korea is the seventh largest trading partner.
    Congress needs to approve this historic deal and make it easier for
    American companies to sell and invest in one of the world's most
    important markets. Opening up the markets

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    in South Korea will be good for American workers. It will mean somebody
    is more likely to have a higher paying job.
        As we work to complete these new free trade agreements, we will also
    work to liberalize policies around the world. We welcome foreign
    investment in our country, and we want to ensure fair treatment for
    American investments abroad. All we ask is to be treated fairly. So we
    are pursuing investment treaty discussions with key emerging markets to
    protect private property rights, to require transparent and
    nondiscriminatory government regulations, to ensure that disputes are
    settled under the protections of international law.
        The best way to advance new opportunities for trade and investment
    is through the Doha round of trade talks. Doha gives us the opportunity
    to lower trade barriers across the world for America's goods and
    services. It also represents an historic opportunity to help millions of
    people climb out of poverty and despair. My administration will continue
    working to bring the Doha round of trade negotiations to a successful
    conclusion, and I appreciate the hard work of Ambassador Schwab. It's not an easy task to convince others to realize
    the benefits of free and fair trade, but we believe it's in the Nation's
    interests to conclude a positive agreement. And we will work tirelessly
    to do so. All we ask is that people treat us fairly.
        In the long run, we know that more trade and investment expands
    opportunity. It raises the standard of living, but for the worker who
    has to change careers, it can be a painful experience. We have a
    responsibility to help workers. When a job goes overseas, somebody--some
    family hurts in America, and I understand that. And we can help, and
    that's why I believe in trade adjustment assistance. I think it's in the
    Nation's interest that we help somebody gain the skills to be able to
    work on an existing job if they happen to lose a job because of trade.
    I'm going to work with the Congress to reauthorize and improve this
    important program. I want the program to focus on workers who have lost
    jobs as a result of trade.
        I also will continue to work to improve Federal job training
    programs. I'm a big believer in community colleges. Community colleges
    are market-driven, economic opportunities. Community colleges enable a
    local community to design a curriculum to meet the needs of local
    businesses. And I know that when somebody gets additional education,
    their productivity goes up. When their productivity goes up, it means
    they're more likely to be able to find a good job at higher pay.
        Some in our country are fearful about our capacities to compete in
    the global economy. I'm not. I believe that so long as the playing field
    is level, we can compete with anybody, anytime, anywhere. But we need to
    do a better job of educating our people about the benefits of free and
    fair trade, and your companies and associations can lead the way. For
    example, at General Electric, employees and plant managers receive
    information packets explaining how pending trade deals with other
    countries will expand business and job opportunities here at home.
    Efforts like this program help build support for free trade policies
    that help us remain prosperous and competitive. And I strongly urge you
    to take up the cause of free trade with your employees.
        I also ask you to take on another important assignment: Help educate
    the Members of the United States Congress. Help them understand that
    free trade is a vital national interest. Help them make the right
    decisions when these votes come up.
        Thanks for letting me come by to say hello and to share with you
    some thoughts about free trade. Thank you.

    Note: The President spoke at 9:45 a.m. in Room 350 of the Dwight D.
    Eisenhower Executive Office Building.

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