Free trade with Panama is win-win
Congress should approve this agreement and the critical economic and foreign policy advantages it promises for America.
By Wesley K. Clark and Joe R. Reederfrom the July 5, 2007 edition
Page 1 of 2
little rock, ark.; and washington - The United States and Panama signed a free-trade agreement last week, consummating negotiations that began in April 2004. Many herald this agreement – with its strong protections for labor and the environment on par with commercial considerations – as a bipartisan breakthrough in support of trade. We urge Congress to take the necessary next step, which is to approve this free trade agreement and the critical economic and foreign policy advantages it promises for our country.
For us, it comes as no surprise that such a pioneering agreement could be realized with Panama. During the mid-1990s, one of us served as commander in chief of Forces SOUTHCOM, Latin America, headquartered in Panama, and the other was the undersecretary of the Army and chairman of the Panama Canal Commission's board of directors. That experience with Panama and the Panamanian people leads us to strongly support deeper economic and foreign-policy ties with this extraordinary ally and wonderful country, whose citizens include some of the best friends America has, anywhere in the world.
The century-old geostrategic partnership between the United States and Panama will be strengthened by this agreement. No treaty in this hemisphere has been more historic, or has had greater impact, than the Panama Canal Treaties of 1977 and 1979. And, under Panama's leadership since Dec. 31, 1999, the canal the world's path between the seas – has operated superbly by every efficiency and environmental benchmark.
Today, 15 percent of US trade with the world passes through this engineering wonder. The Manzanillo International Terminal, the most productive container transshipment terminal in Latin America, is owned by US investors.
The commercial potential of this agreement for the United States is significant. US companies already export nearly $3 billion annually in merchandise to Panama – and at $2.3 billion, the US merchandise trade surplus with Panama is our fifth largest in the world.
RSS feed
