Business Roundtable Statement on
U.S.-Colombia Trade Promotion Agreement

Business Roundtable today reiterated its support of speedy bipartisan passage of the U.S.-Colombia Trade Promotion Agreement (TPA) on the heels of President Bush’s announcement this morning that he would be sending the bill before Congress.

John Castellani, president of Business Roundtable:

“Business Roundtable fully supports the Colombia TPA and trade with Colombia in general, as we continue to encourage bipartisan cooperation that puts the best interests of American workers first.  With the opportunity to strengthen American competitiveness and security now at Congress’ doorstep, our policymakers on both sides of the aisle must come together to act swiftly.”

“The 31 million U.S. workers whose jobs depend on trade have the opportunity to be among the many beneficiaries of open entry into Colombia’s budding economy.  Passage of the agreement means that the 8,000 U.S. exporters to Colombia will no longer face unjust tariffs.  This would greatly increase the opportunity for U.S. goods and services, like chemicals, plastics and U.S. agricultural products, to reach the Colombian market, ultimately benefitting U.S. workers.  And, importantly, an agreement with Colombia will also promote economic development and political stability with this important Latin American ally.”

“Business Roundtable knows how important trade agreements, like the one with Colombia, are to the competitiveness of American companies and workers.  And, that programs like trade adjustment assistance are essential for American workers who need help to restore their competitiveness in the job market.  We are committed to working with Congress to achieve swift bipartisan passage of this legislation.”

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Business Roundtable (www.businessroundtable.org) is an association of chief executive officers of leading U.S. companies with $4.5 trillion in annual revenues and more than 10 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and represent over 40 percent of all corporate income taxes paid. Collectively, they returned $112 billion in dividends to shareholders and the economy in 2005. Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with $90 billion in annual research and development spending – nearly half of the total private R&D spending in the U.S.

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