[Weekly Compilation of Presidential Documents Volume 40, Number 32 (Monday, August 9, 2004)]
[Pages 1429-1430]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks on Signing the United States-Australia Free Trade Agreement 
Implementation Act

August 3, 2004

    The President. Welcome. Please be seated. I'm honored to welcome you 
all to the White House this morning, as I sign the legislation 
implementing the historic free trade agreement between Australia and the 
United States.
    For nearly a century, our two nations have been allies in war and 
partners in peace. Prime Minister Howard's superb leadership has helped 
ensure that the friendship between our two peoples remains strong, that 
our commitment to political and economic freedom remains firm.
    The U.S.-Australia Free Trade Agreement is a milestone in the 
history of our alliance. It expands our security and political alliance 
by creating a true economic partnership. It will create jobs and 
opportunities in both our nations. It will fuel economic growth 
throughout the Pacific Rim, and it will strengthen our common ties of 
family and friendship.
    I appreciate so very much those in my Cabinet who have worked hard 
to make this agreement come true: Secretary of State Powell, Secretary 
of Agriculture Ann Veneman, Secretary of Commerce Don Evans, and, of 
course, Ambassador Bob Zoellick, who is the U.S. Trade Representative.
    Just as an aside, Zoellick has done heroic work, as has his staff, 
to see to it that the world trades more freely and America is treated 
fairly when it comes to trade.
    I appreciate Ambassador Michael Thawley, the Ambassador of Australia 
to the United States, for his tireless efforts in representing his 
country's best interests as we negotiate this trade agreement. Mr. 
Ambassador, you are a credit to your country.
    I'm also proud that Senator Orrin Hatch is with us. Senator, I 
appreciate you taking time to come and represent the United States 
Congress. This agreement received strong bipartisan support. It 
represents that members of both parties understand the benefits of trade 
to our country. Welcome, Senator, I appreciate you coming.
    We support free and fair trade. I support free and fair trade, 
because it has the power to create new wealth for whole nations and new 
opportunities for millions of people. Sound policy can help unleash the 
initiative and talent of free people. Open trade is sound policy. It has 
a record for creating jobs and raising living standards and lowering 
consumer prices.
    My administration is working with the Congress to extend the 
benefits of free trade throughout the western hemisphere, in Africa, and 
into the Middle East. We renewed the African Growth and Opportunity Act, 
which promotes economic reforms and reduces trade barriers on goods from 
the nations of sub-Sahara Africa. Working with Congress, we entered into 
a new free trade agreement with Morocco and Chile. We're encouraging the 
free flow of trade across the Pacific. Last year I had the honor to sign 
a free trade agreement with Singapore, America's first with an Asian 
Pacific nation. Today I'm honored to sign legislation enacting the 
second.
    The total annual two-way trade in American and Australian goods and 
services stands at $28 billion. Australia is America's 10th

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largest export market. Our trade with Australia is important to every 
American. It is vital to our economy. The U.S.-Australia Free Trade 
Agreement is a recognition of that importance and a commitment by both 
our nations to work in partnership for common prosperity. This agreement 
will immediately eliminate duties on 99 percent of all U.S.-manufactured 
exports to Australia. That is the largest immediate reduction of tariffs 
on manufactured goods ever achieved in an American free trade agreement.
    America's manufacturers estimate that eliminating these tariffs will 
increase the export of manufactured goods by nearly $2 billion per year. 
That will mean new jobs for American workers. This agreement will also 
be good for America's farmers. It will eliminate all duties on American 
agricultural products entering Australia. Today, American farmers export 
almost $700 million worth of goods to Australia. And because of this 
agreement, that total will rise.
    Free and fair trade means more than eliminating tariffs on existing 
trade. We must also work to open up new sectors of our economies to 
competition and trade. This agreement opens important sectors of 
Australia's economy, such as telecommunications, government procurement, 
express delivery, computers, tourism, energy, construction, financial 
services, and entertainment. And the agreement strengthens protections 
for intellectual property and promotes electronic commerce.
    One of the great economic achievements since the end of the cold war 
has been the success of free and fair trade in raising up the world's 
poor, bringing hope to the world's hopeless, promoting freedom among the 
world's oppressed, and creating jobs at home and abroad. The same 
advantages that this agreement will bring to the United States and 
Australia can and should be available to the developing world. Our two 
nations are committed to the reduction of trade barriers and other 
restrictions that are keeping too much of the world from the kind of 
prosperity and opportunity that the developed world takes for granted.
    On Saturday, that commitment yielded an important result that will 
benefit manufacturers and farmers from America, Australia, and the 
world. For the last several days, our trade ministers in Geneva have 
worked tirelessly to achieve an agreed framework for the WTO's Doha's 
negotiation. This framework provides a roadmap for these ongoing talks. 
Among other things, it commits WTO members to the elimination of export 
subsidies on agricultural products. And it commits them to start new 
work on the overhaul, streamlining, and transparency of customs rules. 
There is more work to be done, but Prime Minister Howard and I remain 
committed to the success of the Doha negotiations.
    The United States and Australia have never been closer. We're allies 
in the war on terror. We're partners in the effort to help democracy 
take root in Afghanistan and Iraq and throughout the world. We 
understand that free societies will be peaceful societies. We long for 
peace. I appreciate Prime Minister Howard. He's a strong partner in 
peace. We understand that over the long term, the only way to create a 
safer world is to create a better world. We share a belief in the need 
to help others.
    This trade agreement serves the interests of our countries. It 
serves the interests of the United States and Australia. It serves the 
interests of citizens with ambition and initiative and entrepreneurial 
instincts in both our countries. It advances the principle of free and 
fair trade. I am grateful to the Prime Minister, John Howard, for his 
good work and his vision and his friendship.
    And it's now my honor to sign the U.S.-Australia Free Trade 
Implementation Act.

 [At this point, the President signed the bill.]

    The President. Thank you all for coming.

Note: The President spoke at 9:27 a.m. in the Rose Garden at the White 
House. In his remarks, he referred to Prime Minister John Howard of 
Australia. H.R. 4759, approved August 3, was assigned Public Law No. 
108-286.