United States Chamber of Commerce Calls for Accelerated Trade Negotiations

TORONTO, CANADA – The key to greater economic prosperity in the Western Hemisphere is to make it easier, cheaper and faster to do business, said United States Chamber of Commerce President and CEO Thomas J. Donohue in a keynote speech to the Fifth Americas Business Forum today.

"We are poised to reap the first fruits of the Free Trade of Americas Agreement," said Donohue. "We urge the trade ministers to give final approval to measures that will make it easier to do business, such as speed up customs, remove tariffs, and promote greater openness to new investment."

Discussion of the Free Trade of Americas Agreement (FTAA) is scheduled to conclude the three-day American Business Forum meeting this week in Toronto, Canada. Thirty-four trade ministers will meet on November 4, to give final approval to the business facilitation measures tentatively agreed to last summer.

The Chamber submitted comments to the trade ministers and international negotiators meeting in Canada, outlining areas for immediate action. In the comments, the Chamber called for an early conclusion of the final round of FTAA negotiations – a 2003 deadline, instead of 2005.

"Many tough issues are left for the last moment in trade negotiations," Donohue said. "Why not have that moment sooner rather than later? Business leaders are hungry for a substantive deal encompassing all of the major negotiating areas: market access, investment, intellectual property rights, services, agricultural and industrial standards, as well as customs and 'business facilitation' measures."

To combat isolationism and protectionism, the Chamber has created a national trade education program to promote the benefits of international trade. The Chamber's efforts will include earmarking substantial resources to push for pro-trade measures in Congress, including fast-track authority.

The U.S. Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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