| 15,961 Great Reasons
The Trade Promotion Agreements with Peru, Colombia and Panama
are a big deal for small business
More than 19,500 U.S. companies export their products to Peru, Colombia, and Panama, which are among Latin America's most dynamic growth markets. Of this total, an amazing 15,961, or 82%, are small and medium-sized companies. In 2004, these firms exported $3 billion worth of merchandise to Peru, Colombia, and Panama, representing 41% of all U.S. exports to the three countries.
There is a way to further accelerate small business export growth to the region. The trade agreements with Peru, Colombia, and Panama will create opportunities for smaller U.S. firms in ways that go far beyond just cutting tariffs. They will eliminate non-tariff barriers, open services markets, and provide procurement opportunities to America's small businesses. Consider these testimonials from firms that export to Peru:
''Sometimes we lose business to companies from other countries that pay zero duty. For example, Canada has trade agreements with Peru that make Canadian products less expensive. Passage of a free trade agreement with Peru will make us more competitive and allow us to sell more U.S. products.''
Alfredo Sansore; Vice President International
A&K Railroad Materials - Houston, TX and Salt Lake City, UT
Number of U.S. employees: 350
Years of involvement in Peru: 25
Major products sold to Peru: Rails and track materials for railroad, mine, and, crane applications
''Eliminating duties will make us more competitive. All our employees' jobs are dependent upon international trade, and anything that can be done to reduce trade barriers will help our Kentucky-based operations grow.''
Susie Givens; President
Givens International Drilling Supplies - Corydon, KY
Number of employees: 9
Years of operation in Peru: 4
Major products sold to Peru: Drilling equipment and supplies
''Given an even playing field where our products can be sold at reduced tariff rates, I am confident our sales will soar. That translates into more jobs at our factory in Pennsylvania.''
Edward Vlutters; Manager, International Distributors and Director, International Division
Cannondale Bicycle Corporation - Bedford, PA and Bethel, CT
Number of U.S. employees: 450
Years of involvement in Peru: 10
Major products sold to Peru: High-end bicycles and related clothing and accessories
''Passage of a free trade agreement will eliminate enormous hurdles currently in place, open up new opportunities, and allow us to competitively market our products.''
Charles L. Hicks Jr.; President
Interphase Technologies, Inc. - Soquel, CA
Number of employees: 15
Years of involvement in Peru: 10
Major products sold to Peru: Scanning sonar and navigational chart plotters
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|  | |  | | Did you know?
| | | Later this month, the European Union will launch negotiations for an ''association agreement'' with Peru, Colombia, and their Andean neighbors that resembles a free trade agreement. Canada is in exploratory talks for a free trade agreement with Peru, Colombia, and their Andean neighbors. In June, Peru will begin FTA negotiations with the European Free Trade Association. If the U.S. trade agreements with Peru, Colombia, and Panama fail to advance, businesses in Europe and Canada will secure an advantage over their U.S. competitors.
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| | | | Overheard
| | | ''This is truly an historic breakthrough. For decades now, trade has been a polarizing issue in Congress, but today's agreement signals a new direction and a renewed spirit of bipartisanship.''
-House Ways and Means Chairman Charles Rangel, May 10, 2007, on ''A New Trade Policy for America.''
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