World Trade Week, 2002

Proclamation 7564 of May 17, 2002

World Trade Week, 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 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.

(Presidential Sig.)B