|
U.S.
Official Urges Economic Reforms in Central America
(14
October 2002)
A
senior Commerce Department official has called on Central American
countries to pursue economic reforms that would help them benefit from
increased trade and investment.
Speaking
October 14 to government officials and business leaders in Managua,
Nicaragua, Under Secretary for International Trade Grant Aldonas said
governments need to create an environment characterized by the rule of
law in which entrepreneurship and the private sector can thrive.
He
urged business leaders to encourage their governments to follow the
principles of good governance and pursue policies that promote growth,
transparency and strong institutions, according to an October 14
Commerce Department press release.
Aldonas
said the U.S. economy remains fundamentally sound, and that Central
America, through strengthened economic ties with the United States, will
help build a future of tremendous economic opportunity, the Commerce
Department said.
Combined
U.S.-Central American trade has more than doubled since 1992, and
totaled more than $20,000 million last year.
Following
is the text of the press release:
(Note:
In the text "billion" means 1,000 million.)
(begin
text)
U.S.
Department of Commerce
International Trade Administration
October 14, 2002
Bush Administration Official Urges Central American Economic Reforms as
Key to Future Free Trade Agreement Stresses Role of Private Sector in
Promoting Growth & Stability Grant Aldonas, U.S. Commerce Under
Secretary for International Trade today urged Central American nations
to pursue economic reforms, and
stressed the importance of the private sector in encouraging the
conditions necessary to harness increased trade and prosperity through a
Central American Free Trade Agreement with the region. Aldonas delivered
his remarks before senior government and business leaders at the
Compromiso CentroAmerica trade and investment forum in Managua,
Nicaragua.
"Trade is a cornerstone of democracy," Aldonas said.
"While trade
promotes the rule of law, it also promotes a free and stable
government that protects the rights of individuals and institutions. It
is the role of government not to create wealth, but to create an
environment in which the entrepreneur can flourish. To do so, government
must enact tax and other regulatory changes that make equity more
enticing than debt, and promote capital formation and investment."
Aldonas said the U.S. economy remains fundamentally sound, and that
Central America, through strengthened economic ties with the United
States, will help build a future of tremendous economic opportunity.
"President Bush and I believe that economic freedom is the
foundation for individual success and prosperity," Aldonas said.
"At its root, trade is about human freedom -- the freedom to
interact, innovate, and exchange goods and services without interference
from the state -- and governments must protect these principles."
Aldonas said the benefits of a Free Trade Agreement involve more than
buying and facilitating goods, but require a commitment to the rules of
engagement for investment and good governance and will cover areas such
as services, investment, and intellectual property.
Speaking
directly to Central American business leaders, Aldonas noted the role of
the private sector in fostering conditions that promote economic growth
and stability. "Each of us, particularly those of you in the
private sector, can be a champion for change -- with your governments,
colleagues and customers. You, as leaders of the Central American
business community, have an opportunity to encourage the enactment of
sound policies that promote growth, transparency and strong
institutions."
Combined U.S.-Central American trade has more than doubled since 1992,
and totaled more than $20 billion last year.
(end
text)
(Distributed by the Office of International Information Programs,
U.S.Department of State. Web site: http://usinfo.state.gov)
|
