[Weekly Compilation of Presidential Documents Volume 38, Number 21 (Monday, May 27, 2002)]
[Pages 850-851]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Proclamation 7564--World Trade Week, 2002

 May 17, 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 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

[[Page 851]]

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.
                                                George W. Bush

 [Filed with the Office of the Federal Register, 8:45 a.m., May 21, 
2002]

Note: This proclamation was published in the Federal Register on May 22. 
This item was not received in time for publication in the appropriate 
issue.