USCIB Welcomes Free Trade Agreement With Australia
New York, N.Y., February 9, 2004 – The United States Council for International Business (USCIB) applauded completion of the U.S.-Australia Free Trade Agreement.
“This is by far the most important bilateral free trade agreement we have undertaken in recent years, and by and large it will be a boon to U.S. exporters,” said USCIB President Thomas Niles.
Yesterday the U.S. and Australia announced completion of a comprehensive free trade agreement that would eliminate nearly all tariffs on manufactured goods. It was the second U.S. FTA with an industrialized nation, after Canada in 1988.
Last week, USCIB joined other business groups in pressing for completion
of the agreement despite last-minute complaints from some agricultural sectors.
Australia is the United States’ 9th largest trading partner, with $28 billion in bilateral trade in 2002. The U.S. exported $17.5 billion worth of goods and services, supporting more than 270,000 jobs.
“We understand that not all of our objectives were realized in this compromise agreement,” stated Mr. Niles. “We will examine the text of the agreement before submitting detailed comments on the results.”
USCIB promotes an open system of global commerce. Its membership includes some 300 leading U.S. companies, professional services firms and associations. As American affiliate of the leading international business and employers organizations, USCIB provides business views to policy makers and regulatory authorities worldwide and works to facilitate international trade.
Contact:
Jonathan Huneke, VP Communications, USCIB
(212) 703-5043 or jhuneke@uscib.org
More on USCIB’s Trade Policy Committee
