Today, Ways and Means Chairman Dave Camp (R-MI) and Trade Subcommittee Chairman Kevin Brady (R-TX) issued the following statements upon the announcement by U.S. Trade Representative Ron Kirk that the United States and Panama have taken measures necessary to comply with provisions of the U.S.-Panama Trade Promotion Agreement and that the agreement will enter into force on October 31, 2012:
Chairman Camp stated: "Today's announcement is welcome news for U.S. workers, farmers, ranchers and job-creators. Implementing the U.S.-Panama trade agreement will create new jobs and more paychecks here at home. I congratulate the teams in both countries for their diligent work. In these difficult economic times, we must take advantage of every opportunity to spur growth and create jobs here at home. We must build off this success and continue to promote a robust and ambitious trade and investment agenda that will increase American prosperity and allow us to lead again."
Chairman Brady added: "I welcome the announcement that the U.S.-Panama Trade Promotion Agreement will enter into force on October 31, 2012. We can now begin to regain the market share for U.S. goods and services lost in Panama during the years this agreement sat on the shelf. While I am pleased that entry into force will occur soon, finally implementing an agreement that was completed over five years ago is merely treading water. Much more work needs to be done, such as prompt completion of the Trans-Pacific Partnership and exploration of new market access initiatives for U.S. goods and services abroad."