Chamber Welcomes Trade Negotiations with Australia

WASHINGTON, D.C. – The United States Chamber of Commerce today expressed its support for the start of bilateral negotiations for a free trade agreement (FTA) with Australia, without prejudicing its position on the final agreement. The Chamber called it a significant step towards advancing trade and economic prosperity.

"Launching free trade negotiations between the two of the most dynamic and open economies in the Pacific is not only in the economic interests of both nations, but should serve to strengthen regional liberalization initiatives," said Chamber Vice President Myron Brilliant.

The FTA should generate expanded commercial and investment opportunities for U.S. companies. The U.S.-Australia bilateral trading relationship has been on a consistent growth curve over the past ten years, totaling over $26 billion in 2001. U.S. merchandise exports to Australia in 2001 were $15.8 billion, a surplus of close to $6 billion. An FTA will lead to even greater bilateral trade.

While the Chamber supports the FTA negotiations, at the end of the day the negotiations must remove trade barriers and increase market access in key industries. "The Chamber looks forward to working with our government and the Australian government to ensure that U.S. corporate priorities are addressed in the negotiations," said Brilliant.

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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