Andean Trade Preference Extension Act Signed by President Bush
March 3, 2008On Friday, February 29, 2008, President George W. Bush signed into law H.R. 5264, the Andean Trade Preference Extension Act of 2008, which extends the Andean Trade Preference Act through December 31, 2008.
In a statement responding to President Bush’s action, State Department Deputy Spokesman Tom Casey said, “Today the President signed an extension of the Andean Trade Preference Act (ATPA), continuing our efforts to assist the people of Colombia, Peru, Ecuador, and Bolivia in combating drug production, creating economic opportunity, and alleviating poverty. Almost two million people in these four countries have jobs today as a result of ATPA. The bill’s passage by voice vote in the House Representatives and by unanimous consent in the Senate reflects strong bipartisan support for this program. ATPA contributes directly to the development of a stable and prosperous region, and is in the national security interest of the United States.”
Treasury Secretary Henry M. Paulson, Jr., welcomed the extension as well.
“Today’s signing of the Andean Trade Preference Act is an important bridge as we work with Congress to pass the Colombia Free Trade Agreement and as we implement the Peru Free Trade Agreement,” he said. “I thank all the members of Congress who supported this bipartisan legislation, and I look forward to working with Congress to further enhance opportunities for American workers and American businesses by passing the Free Trade Agreements with Colombia and Panama.”
Likewise, U.S. Trade Representative Susan C. Schwab was pleased with the extension.
“I thank Congress for swiftly approving legislation to extend the Andean Trade Preference Act, which will maintain preference benefits while we work with Congress to approve our FTA with Colombia and work with Peru to implement that agreement,” Schwab commented.
“These are historic agreements that will provide unprecedented access to these strong and growing markets. Both agreements incorporate the labor and environment provisions of the bipartisan agreement reached with congressional leaders last May,” she continued. “Like the Peru agreement, the Colombia FTA will provide U.S. businesses, service providers, farmers, and ranchers with a level playing field — turning one-way duty-free access into our market into a two-way trade partnership. It will also help us support a critical ally and friend in the region. Congress should pass the Colombia FTA as quickly as possible.”
After Senate passage of the Act last Thursday, Senator Max Baucus (D-Mont.), chairman of the Senate Finance Committee, spoke in support of the legislation, although he would have preferred an even longer extension.
“A strong relationship with Latin America is in the best interest of Americans and our economy, as well as the economies and cultures of these key Latin American nations,” said Baucus. “I will keep an eye on this program to make sure that it works effectively for American businesses and that our developing trading partners abide by the program’s conditions as I tackle my top trade priority: moving a robust Trade Adjustment Assistance package in the Senate. In the meantime, I am very pleased that my colleagues have extended these important trade preferences in a timely manner.”
In 1991, the U.S. Congress authorized duty-free benefits for four Andean nations (Colombia, Peru, Ecuador and Bolivia) under ATPA to help in their fight against illegal drug production and trafficking by expanding their economic opportunities. As part of the Trade Act of 2002, Congress renewed and enhanced the trade preferences for all four countries under the Andean Trade Promotion and Drug Eradication Act (ATPDEA), which expired on December 31, 2006. Congress has twice extended the program, most recently until February 29, 2008.
