Emergency Committee For American Trade

ECAT Welcomes Signing of U.S.-Panama TPA; Urges Swift Passage of All Pending Trade Agreements

Washington, D.C., June 27, 2007: Calman Cohen, President of the Emergency Committee for American Trade (ECAT), issued the following statement on the signing of the U.S.-Panama Trade Promotion Agreement (TPA):

“The U.S.-Panama Trade Promotion Agreement is a strong, comprehensive agreement that will promote significant new economic opportunities for the United States and Panama and solidify our relationship with an important neighbor and ally.

“In particular, the U.S.-Panama TPA will expand opportunities for U.S. farmers, manufacturers, service providers and their companies by opening markets and eliminating key barriers. It will also make important improvements to investment protections and transparency that will promote the rule of law. By providing more secure access to the U.S. market, the agreement will help expand economic opportunities and economic growth in Panama.

“Congressional implementation of this agreement sooner rather than later is particularly important given Panama’s decision to expand the Panama Canal. Once this agreement has entered into force, it will lower the cost of U.S. goods, make U.S. services more competitive and provide important procurement benefits to U.S. firms compared to other foreign competitors in Panama’s market.

“ECAT looks forward to working with all Members of Congress in support of this vitally important agreement and with the Government of Panama to ensure its full implementation in a manner that supports continued U.S. business engagement in Panama and encourages more robust trade and investment ties between our countries. As well, ECAT urges swift consideration and approval by the U.S. Congress of all pending trade agreements.”

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Founded in 1967, ECAT is an organization of the heads of leading U.S. international business enterprises representing all major sectors of the American economy. Their annual worldwide sales total over $2.5 trillion and they employ more than six million persons. ECAT’s purpose is to promote economic growth through the expansion of international trade and investment.

Attached Document(s): 06-27-07 ECAT Welcomes Signing of U.S.-Panama TPA.pdf