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BUSINESS COALITION FOR U.S.-CENTRAL AMERICA TRADE For Immediate Release CROSS-SECTORAL COALITION LAUNCHED TO PROMOTE NEGOTIATION OF HIGH-STANDARD U.S.-CENTRAL AMERICA FREE TRADE AGREEMENT; TESTIFIES BEFORE ADMINISTRATION Washington, D.C., November 19, 2002. A broad-based and cross-sectoral group of companies and associations announced today the formation of the Business Coalition for U.S.-Central America Trade. This Coalition will promote the negotiation and implementation of a comprehensive, high-standard and commercially-strong free trade agreement between the United States and the Central American governments of Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua that opens markets, expands two-way trade, and offers a model for future regional expansion. The Coalition also testified today before the Trade Policy Staff Committee of the U.S. Government on the importance and general objectives of a comprehensive and high-standard agreement. Central America represents an important growth market of nearly 34 million people. It is our 20th largest overall trading partner and our 18th largest export market. U.S. exports to the region account for over 40 percent of Central America's imports and include a wide variety of goods and services - from electrical machinery, computers, motor vehicles, textiles and apparel, chemicals, and agricultural products to financial, retail and energy services. U.S.-Central America free trade negotiations represent a unique opportunity not only for American farmers, business and workers, but also for promoting development, the rule of law and increased regional security along America's border. "A comprehensive and high-standard U.S.-Central America FTA would build upon and expand our longstanding bonds of commerce, culture, and family, the people of to create new economic opportunities for our companies and their workers, while also helping to strengthen democracy, the rule of law and security throughout the region," said James Jacobson, Vice Chairman of the Kellwood Company. "Time is of the essence with the Central America negotiation. This regional negotiation is needed not only to create new opportunities in the Americas, but also to help provide a model for negotiations with other countries in the region, including negotiations to create a Free Trade Area of the Americas," said Jose Perez-Jones, Vice President of Seaboard Marine, Ltd. "The American business community is ready to work with the Administration and Congress and the governments and businesses in Central America on a wide variety of issues to help move forward negotiations on a high standard and comprehensive agreement that will raise living standards," said Jerry Cook, Vice President, International Trade, of Sara Lee Knit Branded Apparel. The Coalition will provide American business community input to the Administration, the Congress, and the broader public, throughout the negotiation of this agreement and its eventual implementation. The Coalition and several of its members presented testimony today before the Administration's Trade Policy Staff Committee. The Coalition is currently preparing detailed, sectoral-specific negotiating objectives to address key issues that will arise in the negotiations. The Coalition will also serve as a source of information for the American business community about the progress of the negotiations. As well, the Coalition seeks to expand the business community's dialogue with the five Central American governments and the Central American business community to emphasize the benefits of a high-standard trade and investment agreement. The Emergency Committee for American Trade will serve as secretariat to the Coalition.
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