[Weekly Compilation of Presidential Documents Volume 43, Number 45 (Monday, November 12, 2007)]
[Pages 1479-1480]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on House of Representatives Approval of a Free Trade Agreement 
With Peru

November 8, 2007

    I am pleased that the House of Representatives today approved the 
free trade agreement with Peru with a strong bipartisan vote.

    Expanding markets for our goods and services is crucial to continued 
economic growth and job creation here in America. Through free trade 
agreements, we establish rules that ensure the opportunities and 
benefits of trade are available to our workers, ranchers, farmers, and 
service providers.

    For more than 14 years, Peru has benefited from broad access to our 
markets under the Andean Trade Preference Act. This U.S.-Peru Trade 
Promotion Agreement will help level the playing field for American 
exporters and investors. Approval of this agreement will also send a 
strong signal that we are willing to support those who share our values 
of economic freedom and democracy.

    By strengthening our trading relationships with important 
neighbors--including through our trade agreements with Colombia and 
Panama--we will significantly advance both our economic and national 
security interests. These democracies are trying to improve the lives of 
their citizens. We should embrace the strong commitment to economic 
freedom of countries in our region and the efforts of Colombia to fight 
terrorists and drug traffickers and to strengthen the rule of law.

    Today's vote in the House is the first on a free trade agreement 
since my administration and the leaders of both parties in Congress 
agreed on a new bipartisan way forward.

    I encourage the U.S. Senate to quickly approve this agreement and 
for Congress then to move promptly to consideration of our free trade 
agreements with Colombia, Panama, and South Korea.

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