Chamber Calls for Conclusion of U.S.-Australia Trade Deal

WASHINGTON, D.C. – The United States Chamber of Commerce today urged the Bush administration to wrap up the negotiations for a U.S.-Australia Free Trade Agreement (FTA) that promises to bring immediate tangible benefits to American workers, businesses and consumers.

"We should aim for a comprehensive agreement with Australia and resist demands for special treatment for certain industries or products," said U.S. Chamber President and CEO Thomas Donohue. "Let's not lose sight of the significant benefits of the agreement by listening to the narrow demands of special interest groups."

Australia and the United States have a strong economic relationship. Bilateral trade between the United States and Australia reached over $28 billion last year. The U.S. enjoys a $6 billion trade surplus in goods and services with Australia.

The FTA would also further eliminate trade barriers, lower tariffs and provide increased market access for U.S. companies. According to a recent business analysis, the trade agreement with Australia has the potential of increasing our GDP by more than $2 billion by 2006 and boost American exports by $1.8 billion.

"A comprehensive FTA with Australia will send a positive signal that the United States is living up to its responsibility as a global leader on trade," said Donohue.

The Chamber is optimistic there will be bipartisan support for the FTA and pledged to carry the message to Capitol Hill for Congressional approval.

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.

# # #

04-12