U.S. CHAMBER ENDORSES U.S./AUSTRALIA FREE-TRADE AGREEMENT
The U.S. Chamber of Commerce voiced support for the start of bilateral free-trade negotiations between the United States and Australia.
“Launching free trade negotiations between two of the most dynamic and open economies in the Pacific is not only in the economic interests of both nations, but should serve to strengthen regional liberalization initiatives,” said Myron Brilliant, chamber vice president.
The Washington-based chamber said bilateral trade between the countries has increased annually over the past decade, totaling more than $26 billion in 2001. U.S. exports to Australia in 2001 were $15.8 billion, a surplus of about $6 billion. “A FTA (free-trade agreement) will lead to even greater bilateral trade,” the chamber said.