    [Public Papers of the Presidents of the United States: George W. Bush (2008, Book II)]
    [September 24, 2008]
    [Pages 1235-1236]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks to Leaders of the Western Hemisphere in New York City
    September 24, 2008

        Listen, thank you all very much for being here. I'm joined by
    leaders throughout our hemisphere to discuss trade and prosperity. I
    know they're going to want to hear about the rescue plan that we have
    submitted to the Congress. They can see our legislative process is full
    of give-and-take, that there's ample debate. But I am confident that
    when it's all said and done, there will be a robust plan, and there
    needs to be.
        Each of the 11 countries here has a free trade agreement with the
    United States or one pending before Congress. Free and fair trade is in
    our mutual interests.
        What's interesting about free and fair trade amongst the nations is
    that the people benefit. For example, the Central American-Dominican
    Republic Free Trade Agreement is in its early stages, but trade between
    participating countries with the United States is up 23 percent. That
    translates to jobs and prosperity. In the 5 years since the free trade
    agreement between the United States and Chile took effect, trade between
    our two nations has increased by more than 180 percent. And that's
    positive. In other words, these agreements are mutually beneficial. And
    most importantly, they help small-business owners and workers and
    farmers and ranchers.
        In the nearly 15 years since NAFTA entered into force, trade between
    the United States, Canada, and Mexico has increased by a combined total
    of more than 200 percent.
        Today our countries are launching the Pathways to Prosperity in the
    Americas Initiative to continue this progress. This initiative will
    provide a forum where leaders can work to ensure that the benefits of
    trade are broadly shared. It will deepen the connections among regional
    markets. It will expand our cooperation on development issues. This is a
    very promising initiative, and I expect positive results when our
    representatives meet on these issues later this year.
        It's important for the American people to understand that exports
    benefit workers. Half of our growth last year was the result of trade.
    And therefore, it's in our interest to continue to open up markets,
    particularly in our own neighborhood. There are three free trade
    agreements pending in the Congress today: South Korea, Panama, and
    Colombia. Obviously, two of those are with

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    nations in our own hemisphere. The Colombia free trade agreement will be
    good for Colombia, it will be good for America. The President and I have worked diligently to make sure this
    is a fair agreement, and Congress needs to pass it.
        The Panamanian agreement, it's good for Panama, it's good for
    America. And Congress ought to pass that agreement too. It's important
    that these agreements be passed as soon as possible.
        I want to thank the leaders for joining us. I'm looking forward to
    our discussion. I appreciate your hard work in working to make sure your
    people and your countries have great opportunities. One such opportunity
    is access to jobs provided by markets.
        Thank you for your vision, and thank you for your leadership. Thank
    you.

    Note: The President spoke at 8:01 a.m. at the Council of the Americas
    Headquarters. In his remarks, he referred to President Alvaro Uribe
    Velez of Colombia. The Office of the Press Secretary also released a
    Spanish language transcript of these remarks.